ACFE Study Guide 2026

Historical fraud loss data only captures detected and reported incidents, leaving undetected frauds — which may represent the majority — entirely unmeasured.

Financial institutions must file a SAR within 30 days of initially detecting facts that may constitute a basis for filing, or 60 days if no suspect is identified.

Data analytics in fraud risk assessment is used to surface anomalies, outliers, and unusual patterns that signal areas of elevated fraud risk.

Strong internal controls are considered the most cost-effective deterrent because they proactively prevent fraud rather than detect it after the fact.

The primary role of a fraud examiner is to proactively detect, investigate, and resolve instances of fraudulent activity. This involves gathering evidence, interviewing witnesses, analyzing financial data, and preparing comprehensive reports to document findings, ultimately aiming to prevent future fraud and support legal actions.

Premature suspect interviews can tip off the subject, causing evidence destruction, flight, or warnings to co-conspirators before the investigation is complete.