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Occupational Fraud

What is 'Occupational Fraud?'

"It is the use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization’s resources or assets."

The Association of Certified Fraud Examiners (ACFE) 2016 Report to the Nation on Occupational Fraud and Abuse found that U.S. organizations lose five-percent of the value of total operating revenues to fraud. Applied to the City of Albuquerque FY08 revenues of over $900 million, this figure is $45 million in fraud losses.

Despite increased focus on anti-fraud controls, occupational frauds are much more likely to be detected by a tip than by audits, controls or any other means. Over 50 percent of tips come from employees, which is why we are calling on you to report misconduct by employees, managers and public officials. Together, we can become a community that strives to do the right thing.

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