The 2018 Report to the Nations on Occupational Fraud and Abuse issued by the Association of Certified Fraud Examiners (ACFE) includes 82 cases from Canada that were investigated between January 2016 and October 2017. These cases caused a median loss of US $200,000 per case.
As noted in Exhibit 8.1, corruption is the most common form of occupational fraud committed in Canada; 40% of cases in the region involved some form of corruption, which is twice as frequent as any other type of fraud scheme. Billing schemes are the second most common category of occupational fraud, occurring in 20% of the cases in Canada. In addition, nearly one-third of fraud schemes in Canada are detected by tip, making this the most frequent form of fraud detection in the region (see Exhibit 8.2).
The 2018 Report to the Nations also examines the anti-fraud controls that were present at victim organizations at the time the frauds being analyzed were committed. Exhibit 8.3 shows that a formal code of conduct is the most commonly implemented anti-fraud control among victim organizations ...
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