New England topped the list of embezzlement-riddled regions in 2011, with Vermont taking top dishonors and Connecticut in second place, according to a new report from Boston consultancy firm Marquet International Ltd.

Financial institutions were the type of firm most at risk of suffering from embezzlement the report said, with nonprofits a close second.

"Banks and financial organizations – perhaps because that is where the money is – and nonprofits, including religious organizations – probably due to their weak business controls environment – are most often the victims of this type of white collar crime," said Christopher Marquet, CEO of Marquet International.

The firm’s annual study of major embezzlement cases in the United States examined 473 active cases, each with more than $100,000 in reported losses. The total number of major embezzlement cases dipped slightly, down 2 percent from 2010, but losses involved remained high, with the average reported loss of about $750,000 per firm.

"Certain states like Vermont are consistently among the highest risk for loss due to embezzlement," said Marquet. "Anyone in that state that keeps up on the news knows that Vermont has experienced a rash of high profile embezzlements in recent years," he continued.

The vast majority of malefactors come with green eyeshades, with nearly three-quarters of 2011 thefts by employees who held finance and accounting positions. The most common embezzlement scheme in 2011 involved the forgery or unauthorized issuance of company checks. Perpetrators can be tough to spot: only about 5 percent of major embezzlers have a prior criminal history.

Other states with the high risk for loss due to embezzlement included Virginia and Florida.