Syed Zubair Ahmed


The high profile fraud incidents have captured the attention of people around the world about the real cost of accounting fraud. The business world is undeniably brimmed with scams and frauds that removed illegitimately billions of dollars. With the increasing number of high-profile scandals, the topic of fraud has attracted unprecedented attention in recent history. The direct losses from fraud and the impact of fraud have grown significantly and simply too costly which conveniently cannot be overlooked. Accordingly, the implications for the global determination of fraud loss has gained ground and has risen to prominence during recent years.
The present study aims to examine why it is crucial to measure economic crimes or fraud and how the figure of global fraud loss can be quantifiable. Assessing and identifying the scale of loss from fraud is an important first step toward building a strategy for combating fraud. Equally important to developing a methodology for the accurate measurement of fraud loss globally. This paper explores how a better measurement is critical to a properly designed and strategic response to fraud. Better measurement of global fraud loss can provide a benchmark for exercising anti-fraud strategies, how the programs and activities can work to advantage. How to overcome data quality of global fraud loss and how to ensure the accuracy in exercising the collection methodologies.
The methodology applied in this study is a qualitative case study method. The qualitative approach is aimed to determine, define, and investigate research problems. There is no denying the truth that there is no consistent and robust measure across global jurisdictions for determining fraud loss and error. The objective of measuring global fraud and error can be accomplished by implementing and legislating a global standard. The proposed changes are being envisaged as a guide to a global standard to measure the global loss from fraud.

Full Text:



Abbott, K.W., Keohane, R.O., Moravcsik, A., Slaughter, A.M. and Snidal, D., (2000). The concept of legalization. An international organization, 54(3), pp.401-419.

Abbott, K.W., and Snidal, D., (2010). International regulation without international government: Improving IO performance through orchestration. The Review of International Organizations, 5(3), pp.315-344.

Beals, M., DeLiema, M. and Deevy, M., (2015). Framework for a taxonomy of fraud. Washington DC: Stanford Longevity Center/FINRA Financial Investor Education Foundation/Fraud Research Center. Retrieved August, 25, p.2016.

Beirne, P. and Messerschmidt, J.W., (2005). Criminology (4th edn). Los Angeles, CA: Roxbury.

Brand, S. & Price, R. (2000). The Economic and Social Costs of Crime. Home Office Research Study 217. London: Home Office.

British Standards Institute. (2000). A Guide to the Application of Statistical Methods to Quality and Standardization. BS 600:2000. London: British Standards Institute.

Bureau of Justice Statistics, US Department of Justice (2019).

Bromley, P.D., (1990). Academic contributions to psychological counseling. 1. Philosophy of science for the study of individual cases. Counseling psychology quarterly, 3(3), pp.299-307.

Creswell, J. W. (2013). Qualitative inquiry and research design: Choosing among five approaches. Thousand Oaks, CA: Sage.

Denscombe, M. (2010). The good research guide: For small-scale social research projects: For small scale social research projects. McGraw-Hill International.

Farrell, S., Ladenburg, G., and Yeo, N., (2007). Blackstone's Guide to the Fraud Act 2006. Oxford University Press.

Federal Bureau of Investigation. (n.d.). Uniform Crime Reports from Last accessed

Dec 2018.

Fraud Review Team. (2006). Fraud Review: Final Report. London: Fraud Review Team.

Gee, J., Button, M., and Brooks, G., (2009). The financial cost of healthcare fraud: what data from around the world shows. The University of Portsmouth.

George, B.C., Lacey, K.A., and Birmele, J., (1999). The 1998 OECD Convention: An impetus for worldwide changes in attitudes toward corruption in business transactions. American Business Law Journal, 37(3), p.485-525.

Gordon, G.R., and Willox Jr, M.N.A., (2005). Using identity authentication and eligibility assessment to mitigate the risk of improper payments. Journal of Economic Crime Management, 3(1), pp.1-24.

Harberger, A.C., (1959). Using the resources at hand more effectively. The American Economic Review, 49(2), pp.134-146.

Hoare, J., (2007). Deceptive evidence: Challenges in measuring fraud. Crime Prevention Studies, 22, p.263.

Jackson, P.G., (1990). Sources of data. In Measurement issues in criminology (pp. 21-50). Springer, New York, NY.

Kane, L., (2001). Popular education and social change in Latin America. Latin American Bureau.

Kane, J., and Wall, A.D., (2006). The 2005 national public survey on white-collar crime. Fairmont: National White Collar Crime Center.

Levi, M., (1992). White-collar crime victimization. White-collar crime reconsidered, pp.169-192.

Levi, M. and Burrows, J., (2008). Measuring the impact of fraud in the UK: A conceptual and empirical journey. The British Journal of Criminology, 48(3), pp.293-318.

Mann, D., and Sutton, M., (1998). >> NETCRIME: more change in the organization of thieving. The British Journal of Criminology, 38(2), pp.201-229.

Merriam, S.B., (1998). Qualitative Research and Case Study Applications in Education. Revised and Expanded from "Case Study Research in Education.". Jossey-Bass Publishers, 350 Sansome St, San Francisco, CA 94104.

Merriam, S.B., (2009). Qualitative case study research. Qualitative research: A guide to design and implementation, pp.39-54.

Mills, J., Harrison, H., Franklin, R., and Birks, M., (2017). Case study research: Foundations and methodological orientations. In Forum Qualitative Sozialforschung/Forum: Qualitative Social Research (Vol. 18, No. 1, p. 17). DEU.

Murphy, P.R., and Dacin, M.T., (2011). Psychological pathways to fraud: Understanding and preventing fraud in organizations. Journal of business ethics, 101(4), pp.601-618.

Newburn, T., (2007). “Tough on crime”: penal policy in England and Wales. Crime and Justice, 36(1), pp.425-470.

Nilsson, A. (2017). Making norms to tackle global challenges: The role of Intergovernmental Organizations. Research Policy, 46(1), 171-181.

Ratley, J. (2014). Report to the nations on occupational fraud & abuse: 2014 global fraud study. Austin, Texas: Association of Certified Fraud Examiners. Retrieved from:

Rebovich, D.J., Layne, J., Jiandani, J., and Hage, S., (2000). The national public survey on white-collar crime. Morgantown, WV: National White Collar Crime Center.

Reddy, W. & McCarthy, S. (2006), "Sharing best practice", International Journal of Health Care Quality Assurance, Vol. 19 No. 7, pp. 594-598.

Rezaee, Z., (2002). Financial statement fraud: prevention and detection. John Wiley & Sons.

Samford, C., Shacklock, A., Connors, C. and Galtung, F. (Eds) (2006). Measuring Corruption. Aldershot: Ashgate.

Shafer, W.E., (2002). Effects of materiality, risk, and ethical perceptions on fraudulent reporting by financial executives. Journal of Business Ethics, 38(3), pp.241-260.

Sheppard, L., Drummond, C.E., and Anaf, S., (2007). Combining case study research and systems theory as a heuristic model.

Solms, B.V., (2000). Information security-The third wave?. Computers & Security, 19(7), pp.615-620.

Stake, R.E., (1995). The art of case study research. Thousand Oaks, CA: Sage.

Stake, R.E., (2006). Multiple Case Study Analysis. New York: Guilford.

Titus, R.M., Heinzelmann, F., and Boyle, J.M., (1995). Victimization of persons by fraud. Crime & Delinquency, 41(1), pp.54-72.

UK’s Department for International Development (DFID). The unclassified document, Common Areas of Spend Fraud, Error & Debt Standard Definition v2.1 pp8 (2012). Available at Last accessed 26 November 2019.

United Nations Office on Drugs and Crime (UNODC). International Classification of Crime for Statistical Purposes (ICCS). Version 1.0. Vienna, Austria. (2015). Available at:

United Nations Economic Commission for Europe (UNECE). Conference of European Statisticians. Report of the UNODC/UNECE Task Force on Crime Classification to the Conference of European Statisticians. (2011).

United States Office of Management and Budget (US OMB). Improper Payments Information Act of 2002 (P.L. 107-300), Memorandum for Heads of Executive Departments and Agencies, M-03-13. (2003). White House website: Last accessed Dec 13, 2019.

Yin, R.K., (1992). The case study method as a tool for doing the evaluation. Current sociology, 40(1), pp.121-137.

Yin, R.K., (2000). Case study evaluations: A decade of progress? Evaluation models (pp. 185-193). Springer, Dordrecht.

Yin, R.K., (2003). Case study research design and methods third edition. Applied social research methods series, 5.

Yin, R. K. (2014). Case study research: Design and methods (5th ed.). Los Angeles, CA: Sage.


  • There are currently no refbacks.