Fraud Report: ACFE 2018 RTTN

 8 December, 2018

Fraud, is it happening in your backyard?

With Christmas just around the corner, do you suspect that someone is getting an unwarranted bonus?

Are you a business owner or an employee of an establishment where you have a niggling gut feeling that there is something not quite right about someone or something in that business ?

Read the latest ACFE Release 2018 Report to the Nations Asia-Pacific Edition it can offer you some insight into the world of fraud and the common processes of fraudulent transactions.

Don’t have time to read the full report right now, here are a few snippets from the report for you to consider;


Understanding and recognising the behavioural red flags displayed by fraud perpetrators can help organisations detect fraud and mitigate losses.

Question; What are the 6 behavioural red flags most common in studies dating back to 2008?


  • Living beyond means,
  • Financial difficulties,
  • Unusually close association with vendor/customer,
  • Unwillingness to share duties,
  • Divorce or family problems; and
  • Wheeler dealer attitudes.

Fraud can be especially devastating to small businesses. These organisations typically have fewer resources to both prevent and recover from a fraud, and they often require an increased level of trust in employees due to a lower ability to implement robust anti-fraud controls.

Question; How are most frauds detected?

  • By a tip off ?
  • Lack of Internal Controls ? or
  • By the Owner or Executive?

Answer; All three are correct with the percentage changing according to the number of employees.

The ACFE is excited to share the newly published 2018 Report to the Nations: Asia-Pacific Edition.

In the report, you will find highlights like:

  • The median loss per case of occupational fraud in the Asia-Pacific region was USD $236,000, (circa AUD $326,000), i.e more than 80% higher than the global median.
  • More than half of the cases in the region involved some form of corruption (bribery, kickbacks, illegal gratuities or conflicts of interest). Corruption was more than twice as common as the most frequent types of asset misappropriation, such as theft of non-cash assets and fraudulent expense reimbursements.
  • The most common detection method was by a tip (47% of cases), with more than half of these tips coming from employees of the victim organisation.

Steven Ponsonby the Director of Forensic Accounting Qld is a Certified Fraud Examiner. He witnesses first hand the domino effect fraud has on businesses, their family members and the communities. He is a strong advocate in the fight to stop fraud, his investigative skills and demonstrative evidence provide compelling reports to assist the Courts in seeking restitution of monies and/or sentencing of criminals for his clients.

Help stop fraud in your community now? IF YOU SEE SOMETHING, SAY SOMETHING!

Steven Ponsonby is a Chartered Accountant FCA, a Certified Fraud Examiner CFE and Insolvency Practitioner RITP and is the founding Director of Forensic Accounting Pty Ltd, a leading independent forensic accounting practice, providing forensic accounting services and expertise to a broad spectrum of clients across Australia.