Definition Edit

A financial crime is a crime against property, involving the unlawful conversion of the ownership of property (belonging to one person) to one’s own personal use and benefit. Financial crimes often involve fraud.

Overview Edit

Financial crimes are carried out via check and credit card fraud, mortgage fraud, medical fraud, corporate fraud, bank account fraud, payment (point of sale) fraud, currency fraud, and healthcare fraud, and they involve acts such as insider trading, tax violations, kickbacks, embezzlement, identity theft, cyber attacks, money laundering, social engineering, and Securities fraud. Financial crimes sometimes, but not always, involve additional criminal acts such as elder abuse, armed robbery, burglary, and even murder. Victims range from individuals to institutions, corporations, governments, and entire economies.

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