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Previous courses have outlined the concepts of fraud as defined by the Association of Certified Fraud Examiners (ACFE) within their fraud tree. The tree delineates the three major categories of fraud as:

  • Corruption
  • Asset Misappropriation
  • Financial Statement Fraud

Fraud impacts every person and every organization. Regardless of size, structure, geography, or demographics, every organization is subject to fraud. Many individuals refer to fraud "red flags."

These are signs that indicate there is the potential for fraud to occur. Red flags do not mean a fraud has occurred.

There are many presentations on “top frauds”. Be cognizant of how the presenter is focusing the discussion. Top frauds could relate to various areas. Examples of top fraud schemes include: financial statement, revenue/disclosures/ presentation, cyber and internet/personal frauds, asset misappropriation, and corruption.

In this course, we review information on the top fraud schemes by focusing on the three categories as defined by the ACFE fraud tree. We also evaluate the most common schemes by industry as outlined by the updated ACFE report to the Nations.

Note: Information within this course comes from readily available public domain documents and is utilized by the trainer as a supplement for relaying the course content.

Learning Objectives
  • Explore fraud schemes as defined by ACFE.
  • Explore top corruption schemes.
  • Explore top financial statement schemes.
  • Explore top asset misappropriation schemes.
  • Identify industries with highest number of frauds.
  • Identify industries with highest median dollar loss due to frauds.
Last updated/reviewed: February 13, 2024

Included In Certifications

This course is included in the following Certification Programs:

11 CoursesBusiness Fraud Identification and Prevention Certification

  1. Introduction to Forensic Accounting
  2. The Fraud Triangle
  3. Fraud: Focus on Corruption
  4. Fraud: Focus on Fraudulent Disbursements
  5. Fraud: Focus on Cash And Assets
  6. Fraud: Focus on Inventory
  7. Fraud: Focus on Financial Statement Fraud – Part One
  8. Fraud: Focus on Financial Statement Fraud – Part Two
  9. Fraud and COSO 2013
  10. Top Occupation Fraud Schemes - ACFE Report to the Nations
  11. Fraud Risk Assessments
1 Review (3 ratings)


Anonymous Author
Lynn's use of real-world examples helps solidify understanding and makes the material more engaging.

Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
  Introduction to Top Occupation Fraud Schemes - ACFE Report to the Nations9:30
  Categories of Occupational Fraud3:56
  Fraud Statistics18:50
  Asset Misappropriation Category22:26
  Financial Statement Fraud and Top Industries for Fraud8:08
  Identifying Frauds4:38
  Anti-Fraud Controls18:12
  CPI Index and Fraud Prevention Checklist5:31
  Top Occupation Fraud Schemes - ACFE Report to the Nations1:37:26
  Slides: Top Occupation Fraud Schemes - ACFE Report to the NationsPDF
  Top Occupation Fraud Schemes - ACFE Report to the Nations Glossary/IndexPDF