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<br />e <br /> <br />The Size of the .Problem in America <br /> <br />According to the Association of Certified Fraud Examirters (1): <br /> <br />Loss in Gross Revenue per Year <br /> <br />6.000/0 <br /> <br />Loss based on Gross Domestic Product <br /> <br />$600,000,000,000 <br /> <br />Loss per Employee per Day in the U.S. <br /> <br />$ <br /> <br />12.33 <br /> <br />Loss per Employee per Year in the U.S. (365 days) <br /> <br />$. <br /> <br />4,500 <br /> <br />Loss for 100 Employees per Year <br /> <br />$ 450,000 <br /> <br />Increase since. 1996 Report ($400 to $600 Billion) <br /> <br />50.000/0 <br /> <br />Classification of Fraudulent Schemes: <br /> <br />Share of Total ( 2) <br />Asset Misappropriation 85.70/0 <br /> <br />Median Loss <br />$ 80,000 <br /> <br />. Financial Statements <br /> <br />5.10/0 <br /> <br />$ 530,000 <br />$ 4,250,000 <br /> <br />Corruption <br /> <br />12.80/0 <br /> <br />Extrapolated by this author frOm the 2002 Report to the Nation on Occupational FraUd and Abuse, also known as <br />The 2002 Wells Report, published by the Association of Certified Fraud Examiners. Increase computed <br />from reported estimates in the Report to the Nation on Frauii and Abuse, also known as The Wells Report, <br />published in 1996. This author as well as the each report cautions you that these are only estimates and no <br />one knows the total fraud in America. These numbers also do not recognize the trillions of dollars of losses <br />in the market value of listed securities due to the loss of investor confidence resulting from alleged false <br />financial statements of severa11arge companies. Both reports can be found in their entirety on the <br />Association's website atwww.cfenet.com <br /> <br />Percentages exceed 100% because some cases in the study involved more than type of fraud. <br /> <br />@ Copyright 1995 - 2002 Charles C. Cummings, Jr. <br /> <br />Chuck@CummingsHouston.com <br /> <br />Page 2 <br />