SAP Concur: Preventing and Detecting Fraud During Times of Economic Uncertainty

SAP Concur states that according to the most recent global study on occupational fraud and abuse, the typical organization loses 5% of annual revenue to white-collar crimes. From 2018 to 2019, this included 2,504 fraud cases, 125 countries, $1.5 million average loss per case, and $3.6 billion total losses. ACFE President James D. Ratley says fraud rises during economic uncertainty. ACFE survey shows 55.4% of respondents said fraud levels increased in the past 12 months; nearly 60% of in-house CFEs reported layoffs, 35% of those companies eliminated some controls, and only 3.2% increased controls. SAP Concur recommends automated internal controls to supplement human oversight.