Canadian and U.S. government agencies underperform on fraud detection and reporting, study finds

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Net Patrol International Inc.  Data Investigation and Forensic Services
Bankruptcy and Insolvency Trustees

Government agencies in Canada and the United States performed significantly worse than the business sector on fraud detection and mitigation, according to a new survey from risk management software provider ACL.

The 2017 Fraud Survey involved a poll of more than 500 audit, compliance and risk management professionals in Canada and the United States on anti-fraud practices. According to a press release on Wednesday from ACL, “less than one-third of government respondents said that the majority of fraud is detected and less than half said fraud that is detected ever gets reported, compared to 42 per cent and 60 per cent of respondents from the commercial sector, respectively.”

Read more at Canadian Underwriter

This article is summarized by Canadian Fraud News Inc.