Manufacturing Sector Fraud
Ten percent of fraud cases were reported by businesses in the manufacturing sector. That puts it third behind only banking and financial services (16.7%) and government and public administration (10.3%), according to data reported in the Association of Certified Fraud Examiners’ 2012 Report to the Nations. The median loss for manufacturing companies was $200,000. The most common types of fraud in the sector were:
- Corruption 33.8%
- Billing 31.7%
- Non-Cash 28.1%
- Expense Reimbursements 18.0%
- Check Tampering 11.5%
- Payroll 11.5%
- Financial Statement Fraud 11.5%
We work with manufacturers to reduce the likelihood of being victimized by fraud and to avoid whistleblower cases by encouraging a culture of integrity and establishing anti-fraud hotlines, among other solutions.
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