The Association of Certified Fraud Examiners (ACFE)

The Association of Certified Fraud Examiners (ACFE)

ACFE reports that fraudsters often display certain warning signs or red flags that they are engaging in illicit activity.

In 76 percent of the fraud cases, the fraudsters were either living beyond their means and/or experiencing financial difficulty.

Internal fraud is usually committed in the form of procurement fraud, colluding with syndicates, paying phantom vendors, conflict of interest and corruption.