home / About Us / News

FMSI Publishes Article in ABA Banking Journal

By W. Michael Scott
June 23, 2014
ABA Banking Journal Article: Catching Fraud at the Branch Level

"Despite headlines about cybercriminals stealing money across continents, statistics indicate that old-school, in-branch (employee or visitor) fraud remains a problem for many banks.

In fact, according to the Association of Certified Fraud Examiners' 2014 Report to the Nations on Occupational Fraud And Abuse, the U.S. accounts for more than 48% of all occupational (employee) fraud reported by victim organizations, and the banking and financial services industry has the highest percentage (17.8%) of fraud cases across all industries. Banking and financial services companies also have the tenth-highest median loss, at $200,000 per victim organization (the U.S. median is $100,000)."

Read the full article here.