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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 44 / 352

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© D.L. Crumbley

The Cost of Fraud (cont.)

Over 80% of occupational frauds involve asset misappropriations.

Average length of a fraud scheme is 18 months.

Most common way of detecting occupational fraud is by tips from employees, customers, vendors, or anonymous sources.

Second most common detection: accident.

The most targeted asset is cash.

Source: 2002 Wells Report

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