A new report on employee theft and embezzlement reveals that 2012 had both the largest corporate and municipal embezzlement cases in US history.

The 2012 Marquet Report on Embezzlement shows that:

  • The number of major embezzlements increased 11% over 2011;
  • Iowa topped the list of states with highest risk for loss due to embezzlement in 2012. Iowa was followed by Hawaii, Rhode Island, Montana, Nevada, Wyoming, Illinois, Florida and Vermont;
  • The average loss was about $1.4 million for major embezzlement cases in 2012; and,
  • 58% of all incidents involved female perpetrators in 2012.

The study also included a review of 5 years of aggregated data and reported some conclusions Marquet has derived from analysis:

  • Perpetrators typically begin their embezzlement schemes in their early 40s;
  • Major embezzlement schemes span nearly a 5 year period, on average;
  • By a significant margin, embezzlers are most likely to be individuals who hold financial positions within organizations;
  • The Financial Services industry suffers the greatest losses from major embezzlements;
  • Non-profits, including religious organizations, experience the highest frequency of embezzlement of all industry categories, behind only financial institutions;
  • Iowa, Vermont, Rhode Island, West Virginia, Massachusetts, Florida, Montana, Louisiana and Connecticut are among the states with the highest risk for loss due to embezzlement;
  • The most common embezzlement scheme is the forgery or unauthorized issuance of company checks;
  • Women are more likely to embezzle on a large scale than men;
  • Men embezzle significantly more than women in major embezzlement cases;
  • Gambling is a clear motivating factor in driving some major embezzlement cases.

A copy of The 2012 Marquet Report on Embezzlement can be obtained by e-mailing a request to info@marquetinternational.com.