In this article we are going to explore the fascinating world of Association of Certified Fraud Examiners, a topic that has captured the attention of millions of people around the world. From its impact on society to its possible future implications, Association of Certified Fraud Examiners has generated debates, research and endless conflicting opinions. Throughout these pages, we will delve into its history, explore its different facets, and examine its relevance today. Whether you are familiar with Association of Certified Fraud Examiners or are discovering its importance for the first time, this article invites you to reflect on a topic that undoubtedly continues to leave its mark on our society.
Abbreviation | ACFE |
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Formation | 1988 |
Legal status | Professional organization |
Headquarters | Austin, Texas |
Coordinates | 30°16′19.7904″N 97°45′0.5256″W / 30.272164000°N 97.750146000°W |
Region served | Worldwide (180 countries) |
Membership | More than 92,000 |
Chairman | Joseph T. Wells |
President | John D. Gill |
Main organ | Board of Regents |
Website | www |
The Association of Certified Fraud Examiners (ACFE) is a professional organization of fraud examiners. Its activities include producing fraud information, training and tools. Based in Austin, Texas, the ACFE was founded in 1988 by Joseph T. Wells. The ACFE grants the professional designation of Certified Fraud Examiner (abbreviated CFE).
Joseph T. Wells founded the ACFE and is its chairman. After graduating from the University of Oklahoma, he worked for ten years with the Federal Bureau of Investigation, during which time he investigated the former Attorney General John N. Mitchell's involvement in Watergate.
In addition to his duties as chairman, Wells writes, researches and lectures to business and professional groups on white-collar crime issues. He has written books and articles on fraud prevention and detection. His writings appear in professional journals.
The ACFE runs a fraud museum containing exhibits linked to famous frauds, which is open to the public. America's Guide to Fraud Prevention, written by the famous confidence trickster Steve Comisar, is on display in the ACFE fraud museum. The book is considered a piece of fraud history.
According to a 2014 report, companies lose 5% annually due to fraud, and most often this happens in the accounting department. In a 2018 report, the Association of Certified Fraud Examiners stated that up to 28% of small businesses have been involved in some form of fraud, with the figure ranging from 22% to 26% for larger companies. As a result of research conducted by the ACFE in 2022, it was found that professional fraud leads to losses in excess of $3.6 billion annually, especially as a result of misappropriation of assets.