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re: Fraud in Public Companies - Enron, WorldCom, etc.
Posted on 7/21/26 at 12:29 pm to W2NOMO
Posted on 7/21/26 at 12:29 pm to W2NOMO
quote:
Just different tactics. But IMO there is more fraud going on in the US than any other time in history.
I agree, however, I don't think it's going on with public companies.
I think with social media etc. fraud is taking place via these online gurus / crowd funding.
This post was edited on 7/21/26 at 12:31 pm
1
Posted on 7/21/26 at 2:30 pm to whodatigahbait
I went looking for data from the ACFE, and couldn't find exactly what I wanted without having access to the raw data. Generally, survey respondents report a somewhat worse fraud environment, but unfortunately there's no distinction between internal/external fraud.
5% of reported internal fraud cases were attributed to financial statement fraud and had a mean loss of $766k. 86% of insider fraud is asset misappropriation with a median loss of 120k. No way to tell if 766k is material (I'd venture no.)
5% of reported internal fraud cases were attributed to financial statement fraud and had a mean loss of $766k. 86% of insider fraud is asset misappropriation with a median loss of 120k. No way to tell if 766k is material (I'd venture no.)
This post was edited on 7/21/26 at 2:39 pm
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