Outcomes in fraud cases vary depending on the role of the perpetrator, the scheme they carried out, the losses incurred, and how the organization responded.

In ACFE's 2022 Report to the Nations, survey respondents indicated that 29% of occupational fraud cases resulted in civil litigation. The median loss in those cases was $300K. The median loss for those that declined to file civil suits was $70K.

Of the 58% of cases that resulted in a criminal referral, the median loss was $200K. The median loss for those that declined to refer was $50K. The success rate of criminal referrals, where the perpetrator pleaded guilty and was convicted was 66%.

Owners and executives cited in the study were the least likely to be punished for fraud. While 73% of employees and 62% of managers were punished, only 40% of owners or executives were sanctioned.

In 15% of the cases, owners/executives received no punishment, while only 6% of managers and 3% of employees were given a pass.

Before you pursue litigation or a criminal referral contact us. We can conduct the fraud investigation, obtain a confession and even restitution.

"The costs to build and run a company compliance program can run into the millions or tens of millions of dollars," writes Russ Banham in the CFO Newsletter. "The cost of non-compliance can be triple that."

As part of the Biden administration's stance on white-collar crime, the Department of Justice is casting a wider net to "vigorously prosecute criminally capable individuals within companies."

Here are five changes you can expect:

- Diane Geller, Esq., Partner, Fox Rothchild LLP.

IAS can help you identify, deter, investigate and resolve fraud in your company. We can audit your internal controls, create a loss prevention and internal audit program, conduct loss prevention workshops, and most importantly investigate suspected fraud.

Our investigations can obtain signed confessions, restitution and even prosecutions.