The Association of Certified Fraud Examiners (ACFE) is a professional organization of fraud examiners. Its activities include producing fraud information, training and tools. Based in Austin, Texas, the ACFE was founded in 1988 by Joseph T. Wells. The ACFE grants the professional designation of Certified Fraud Examiner[2] (abbreviated CFE).
| Abbreviation | ACFE |
|---|---|
| Formation | 1988 |
| Legal status | Professional organization |
| Headquarters | Austin, Texas |
| Coordinates | 30°16′19.7904″N 97°45′0.5256″W / 30.272164000°N 97.750146000°W |
Region served | Worldwide (180 countries) |
| Membership | More than 92,000 |
Chairman | Joseph T. Wells |
President | John D. Gill |
Main organ | Board of Regents |
| Website | www |
| [1] | |
Founder
editJoseph T. Wells founded the ACFE and is its chairman. After graduating from the University of Oklahoma, he worked for ten years with the Federal Bureau of Investigation, during which time he investigated the former Attorney General John N. Mitchell's involvement in Watergate.[3]
In addition to his duties as chairman, Wells writes, researches and lectures to business and professional groups on white-collar crime issues. He has written books and articles on fraud prevention and detection. His writings appear in professional journals.[4]
Fraud museum
editThe ACFE runs a fraud museum containing exhibits linked to famous frauds, which is open to the public.[5] America's Guide to Fraud Prevention, written by the famous confidence trickster Steve Comisar, is on display in the ACFE fraud museum. The book is considered a piece of fraud history.[6]
Reports and statistics
editAccording to a 2014 report, companies lose 5% annually due to fraud, and most often this happens in the accounting department.[7] In a 2018 report, the Association of Certified Fraud Examiners stated that up to 28% of small businesses have been involved in some form of fraud, with the figure ranging from 22% to 26% for larger companies.[8][9] As a result of research conducted by the ACFE in 2022, it was found that professional fraud leads to losses in excess of $3.6 billion annually, especially as a result of misappropriation of assets.[10]
See also
edit- Frankensteins of Fraud, published by the ACFE
- Fraud Advisory Panel charity, corporate member organisations
References
edit- ^ "Association of Certified Fraud Examiners". ACFE. Association of Certified Fraud Examiners, Inc. Retrieved 22 June 2021.
- ^ "About the ACFE". ACFE. Retrieved January 19, 2021.
- ^ "ACFE Leadership". ACFE. Retrieved January 19, 2021.
- ^ "Fraud Crimes". The Kavinoky Law Firmaccess. Retrieved January 19, 2021.
- ^ "The Fraud Museum". ACFE. Retrieved January 19, 2021.
- ^ Scott Patterson (24 March 2011). "Barry Minkow Added to the List of Repeat Offenders". Archived from the original on June 24, 2011.
- "ACFE's Fraud Museum". Accounting Today. June 29, 2012. Retrieved March 4, 2014. - ^ Pavlo, Walter (21 May 2014). "Association Of Certified Fraud Examiners Release 2014 Report On Fraud". Forbes. Retrieved 7 June 2023.
- ^ "Association of Certified Fraud Examiners (2018 report)". Infotracer.com. Retrieved 7 June 2023.
- ^ "ACFE releases 2018 Report to the Nations". Fraud Magazine. May 2018. Retrieved 7 June 2023.
- ^ Abayasingha, Darshana (10 May 2023). "Association of Certified Fraud Examiners to investigate ways to combat corruption". Daily Financial Times. Retrieved 7 June 2023.