Financial Crime, 2005-2016

Abstract

Each of the NCVRW Crime and Victimization Fact Sheets provides a snapshot of current research and victimization statistics in the United States....Financial and economic crimes—including fraud and identity theft—cost American individuals and businesses billions of dollars every year, and take a significant emotional toll as well as financial. Financial fraud occurs when someone uses deception or misrepresentation for financial gain. Financial fraud includes, but is not limited to: mortgage or healthcare fraud, romance scams, sweepstakes, and Internet scams. Identity theft is related to the misuse of personal information, most often to gain access to an individual’s credit card, bank account, or other personal information. Measuring the extent of financial crime is complicated, in part due to the many different reporting options available to victims. Some victims report to law enforcement, some report online to government agencies such as the Federal Trade Commission, and others report to multiple places or do not report the crime at all. No matter the reporting agency or response mechanisms, financial recovery is often limited. (Author Abstract)