Fraud costs the average U.S. family between $400 and $700 per year.
1 the financial cost of fraud 2013 rePort 2013 report | the fInanCIal Cost of fraud 2 1 “Counting the costs of crime in australia: a 2005 update” - the ustralian Institue of Criminology 1.1 fraud is a challenging problem. 11 the financial cost of fraud 213 report about the publishing organisations bdo Bdo llP is a leading accountancy and business advisory firm, employing 3,500 people across 24 locations in the uK. All merchant segments are losing more revenue to fraud this year and, in the face of these losses, more merchants believe that the additional costs of mitigation are prohibitive. The upward trend of fraud losses as a portion of revenue for all merchants continues in 2015 at 1.32%, up from 0.68% in 2014. While all merchant segments took a substantial hit on fraud losses as a percentage of revenue, international and mCommerce merchants were hardest hit with 1.56% and 1.68% loss, respectively. Find out what’s driving rising fraud losses and associated costs—and how to protect your bottom line. Online-channel frauds cost merchants $3.10 for each dollar of fraud losses, and the 36% increase in fraud through this channel among merchants accepting online payments is the main contributor to this increase. • Merchants are losing a lower percent of revenue to fraud this year, at 0.51%, compared to 0.54% in 2012. 14 2013 LexisNexis® True Cost of Fraud SM Study Similar to large e-commerce merchants, International merchants also experienced a dip in fraud as a percent of revenue, though not quite as pronounced, having decreased from .74% in 2012 to .69% in 2013. If you do Welker's math, the annual cost of fraud ranges from $75 billion to $250 billion. That's a lot of our hard-earned retirement money. The Government Accounting Office doesn't think this estimate is far wrong. It reported that in 2011, Medicare and Medicaid paid an annual $65 billion in improper payments..  The Cost of Fraud. Workers' compensation fraud has a significant impact on the cost of workers' compensation insurance. Insurance fraud imposes an enormous burden on our national economy. It is estimated that the cost of insurance fraud against workers' compensation insurance carriers alone is over $5 billion each year. Workers' compensation fraud carries a higher price tag than fraud in any other category of property/casualty 1 Corporate Sector: The Association of Certified Fraud Examiners estimates the cost of fraud in U.S. organizations at 7 percent of annual revenues, or $994 billion. 2  Insurance Industry: The National Insurance Crime Bureau estimates the cost of fraud at a total of $20 billion a year. The precise cost of fraud throughout the United States is impossible to measure. However, many experts believe the cost of fraud has climbed will into the high multibillion-dollar range. Below are a few creditable costs of fraud estimates: 1  Mortgage Industry: Cost of fraud is estimated by the FBI at more than $1 billion nationwide. 2  Health-Care: The National Health Care Anti-Fraud Association estimates the health-care industry’s cost of fraud at more than $60 billion
http://www.bdo.co.uk/__data/assets/pdf_file/0004/16942/The-Financial-Cost-of-Fraud.pdf http://www.lexisnexis.com/risk/insights/true-cost-fraud.aspx http://www.lexisnexis.com/risk/downloads/assets/true-cost-fraud-2013.pdf http://www.bankrate.com/financing/retirement/how-big-is-medicare-fraud/ http://ww3.nysif.com/AboutNYSIF/Fraud/CostofFraud.aspx http://preventbusinessfraud.com/related-articles/cost-of-fraud/
cost of fraud