BIN 8 - 5 Visit the Association of Certified Fraud Examiners website at acte . com . Find and open the " 201 4 Report to the Nation . " Read the two-page Executive Summary and fill in the following blanks ." report is under its Fraud Resources tab or use the Search tab . ) 1 The median loss caused by the frauds in our study was . Additionally , of the involved losses of at least $7 million . The typical organization loses of revenues each year to fraud ; this translates to a potential projected global fraud loss of nearly* The median duration - the amount of time from when the fraud commenced until it was detected - for the fraud cases reported to us was 7 Asset misappropriations are the most common fraud , occurring in of the cases in study , as well as the least costly , causing a median loss of 7 Only of cases involved financial statement fraud , but those cases had the greatest financial impact , with a median loss of Corruption schemes fell in the middle in ten of both frequency ( _ of cases ) and median loss ( _ Over of all cases were detected by a tip - more than twice the rate of any other detection method . 7 Owners/ executives only accounted for* of all cases , but they caused a median loss Of Employees committed _ of occupational frauds but only caused a median 10 of . . Managers ranked in the middle , committing* _ of frauds with a median loss Of Approximately* of the frauds in our study were committed by individuals working in of seven departments : accounting , operations , sales , executive / upper management . customer service , purchasing , and finance . The vast majority of occupational fraudsters are first -time offenders ; only* _had been convicted of a fraud- related offense prior to committing the crimes in our study . Furthermore , of fraudsters had never previously been punished or terminated by al employer for fraud - related conduct