Global Fraud: $3.7 TRILLION in 2014 – Who is protecting your clients?

« Back to Blog

In its annual Report to the Nations on Occupational Fraud and Abuse, the Association of Certified Fraud Examiners provides meaningful data on known fraud, and the financial impact on economies. While the numbers reported are staggering, with the median loss caused by a scheme at $145,000, and an estimate of total global fraud at $3.7 trillion, there are also practices that can mitigate the exposure and loss.

According to the report, those companies that implemented proactive data monitoring and analysis experienced a reduction in median loss of $108,000 – a 59.7% reduction in comparison to those that did not have a similar practice. Other practices had similarly high effectiveness in reducing total losses, such as employee support programs (55%), management review (51.9%) and code of conduct (50%). 

Perhaps the most telling of the results from the study, “It takes time and effort to recover the money stolen by perpetrators, and many organizations are never able to fully do so. At the time of our survey, 58% of the victim organizations had not recovered any of their losses due to fraud, and only 14% had made a full recovery.”

Click here to access the full report.

Don’t let your clients fall short of recovering from losses when they do occur, contact of the crime insurance experts at Berkley Crime listed below. We can help you take a bite out of crime-related losses.


(Reprinted with permission.  Copyright ©2014 Association of Certified Fraud Examiners, Inc.)



Contact Berkley Crime

National Practice Leader and East Regional Manager
Sean Missal (860) 466-7377
[email protected]

Patricia Logan (212) 497-3708
[email protected]

Matt McNamara (212) 497-3707
[email protected]


Mid-West Regional Manager
Michael Beranek (501) 707-6548
[email protected]

Amanda VanCauwenberge
(312) 730-1101
[email protected]

Kyna Love (312) 705-1132
[email protected]


West Regional Manager
Jennifer Maggi (925) 472-8217
[email protected]

Steve Nguyen (925) 472-8233
[email protected]


P: 844.44.CRIME
[email protected]

Experts focused on your protection.
We deliver.

Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.

For additional information concerning W.R. Berkley Corporation’s insurance company subsidiaries, please visit:


“News You Can Use” E-Blast

Sign up for the latest news from Berkley Crime.

Let us know how
we can deliver for you!