Fraud takes 5 percent bite out of business revenue
The world economy loses an estimated $3.5 trillion annually to fraud.
Broken down based on gross domestic product, approximately 5 percent of annual revenue of U.S. businesses is lost to fraud, said Tim Bergsma, an accounting professor at Davenport University and an occupational fraud consultant.
Davenport’s accounting programs include fraud examination and forensic accounting tracks.
Bergsma said, as a consultant, he sees increasing attention being brought to occupational fraud and white-collar crimes.