If you live in Iowa, you may benefit from learning about some of the most frequent types of financial crimes people commit. These crimes are nonviolent offenses committed by or against a person or group resulting in a financial loss or an illegal conversion of property ownership. These nonviolent offenses typically require a degree of fraud or deception involved to execute the scheme. Local authorities, the FBI, or the Securities Exchange Commission may investigate these felony offenses.
Financial crimes in society
Identity theft and fraud are two of the most frequent financial crimes that people commit. Tax evasion and embezzling company funds are also considered financial crimes. Fraud is the primary mechanism for financial crimes, so it manifests in many forms. Bribery, mortgage fraud, computer fraud, and mail fraud are all financial crimes. Ponzi schemes, pyramid schemes, pump and dump scams, and other dishonest ventures to accumulate capital may also warrant criminal charges.
Financial crimes in business
Illegal activities involving a financial institution are also known as financial sector crimes. Money laundering, check fraud, and credit card fraud is considered financial sector crimes. Many of these offenses, including securities fraud, antitrust fraud, and insider trading, are often referred to as white-collar crimes. The FBI also places a high priority on corporate fraud. Insurance fraud and wire fraud are also considered to be financial offenses.
Financial crimes in court
Financial crimes, like money laundering, have been associated with terrorism and more nefarious offenses, like racketeering. Oftentimes, investigators, forensic accountants, and prosecutors follow the money as a means of exposing additional criminal activity. Without a strong legal defense, anyone accused of financial crimes could be facing a litany of charges that could have a severe impact on his or her life for the foreseeable future.
