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Introduction

Exhibit 1.16

2006 National Fraud Survey: Median Loss by Years of Tenure

10 yrs or more

$263,000

Tenure with Victim

5–10 yrs

1–5 yrs

1 yr or less

$45,000

$100,000

$205,000

$0

$50,000

$100,000 $150,000 $200,000 $250,000 $300,000 Median Loss

caused median losses of $45,000. Additionally, employees with longer tenure were in- volved in a greater percentage of fraud cases than their more recently hired counterparts. We believe that both of these trends may be linked, at least in part, to the increased trust and organizational familiarity gained by employees with longer tenure. (See Exhibits 1.16 and 1.17.)

Criminal History of the Perpetrators

Only approximately 8 percent of the perpetrators identified in the 2006 study were known to have been convicted of a previous fraud-related offense. Another 4 percent of

Exhibit 1.17

2006 National Fraud Survey: Percent of Cases by Years of Tenure

10 yrs or more

37.7%

Tenure with Victim

5–10 yrs

1–5 yrs

26.3%

25.7%

1 yr or less

10.2%

0.0%

10.0%

20.0% Percent of Cases

30.0%

40.0%

33

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