COMPARATIVE ANALYSIS OF FRAUD SCHEMES, DETECTION METHODS, AND ANTI-FRAUD CONTROLS ACROSS DIFFERENT GEOGRAPHIC REGIONS

Abstract

The development of globalization has increased the complexity of economic activities as well as the risk of fraud, which brings both financial and non-financial impacts. This study aims to analyze differences in fraud schemes, detection methods, and anti-fraud controls across eight geographic regions using secondary data from the Association of Certified Fraud Examiners (ACFE) reports from 2020 to 2024. A qualitative approach was used with a narrative literature review method. The results show that the United States & Canada and Sub-Saharan Africa recorded the highest number of fraud cases with relatively small losses due to simple and well-documented schemes. In contrast, Latin America & the Caribbean and Eastern Europe & Western Asia experienced higher losses despite fewer cases, dominated by financial statement fraud and weak internal control. These findings highlight the importance of tailoring prevention policies to regional characteristics, including enhancing transparency and detection technologies to globally mitigate fraud risks.