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Corporate Accounting Fraud: Lessons from the 10 Worst Scandals

Whistleblowers were conspicuously absent in some of the biggest fraud detection stories

Posted by Dawn Lomer on March 7th, 2013

We’ve had our fair share of corporate accounting fraud scandals in the past 15 years. The folks at have come up with an infographic that summarizes the 10 worst corporate accounting scandals and reveals some interesting points.

Of the 10 worst frauds, only one or two of them were discovered as a result of a whistleblower. The majority of the frauds were uncovered after an event that made the crimes obvious: bankruptcy, suspicious trades prompting an SEC investigation, change in management and internal audit.

The ACFE has revealed in its studies over the past few years that almost half of corporate fraud is discovered by tip, so why is it that the biggest frauds seem to be escaping this statistic? Are the biggest corporate frauds occurring in companies that don’t have a speak-up culture? Are these companies lacking anonymous reporting mechanisms? Is there a culture of retaliation that discourages whistleblowers from coming forward? All of the above?

Worst Corporate Frauds of All Time


Dawn Lomer
Dawn Lomer

Manager of Communications

Dawn Lomer is the Manager of Communications at i-Sight Software and a Certified Fraud Examiner (CFE). She writes about topics related to workplace investigations, ethics and compliance, data security and e-discovery, and hosts i-Sight webinars.

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