Cost of Fraud
The typical organization loses five percent of its annual revenue to fraud, with a median loss of $160,000. Frauds committed by owners and executives were more than nine times as costly as employee fraud. The industries most commonly affected are banking, manufacturing, and government.
Read more about this topic: Fraudsters
Famous quotes containing the words cost and/or fraud:
“This people must cease to hold slaves, and to make war on Mexico, though it cost them their existence as a people.”
—Henry David Thoreau (1817–1862)
“Things gained through unjust fraud are never secure.”
—Sophocles (497–406/5 B.C.)