The Rise of Financial Crimes in America

[Miramonti]

link

Fascinating.

Culprit(s)?

 

[spidey07]

More laws/regulation = more crimes being recorded/prosecuted.

 

[Miramonti]

Originally posted by: spidey07
More laws/regulation = more crimes being recorded/prosecuted.

Money Laundering
Check Fraud
Mortgage Fraud
Credit Card Fraud
Identity Theft
False Statements (small %)
Consumer Loan Fraud

Which have been more strictly defined/more illegal/regulated/aggressively prosecuted than prior years that would lead to overall (based on the graph) roughly a 2000% increase over 12 years?

More crimes will obviously lead to more # prosecution attempts.

 

[spidey07]

It could be related to how connected everything is now? Compare this graph with one of internet growth and they may be stunningly similar. The dates look about right.

 

[Vette73]

Originally posted by: spidey07
It could be related to how connected everything is now? Compare this graph with one of internet growth and they may be stunningly similar. The dates look about right.

Yep I was going to say its much easier now. Use to be you had to take the hard money to steal now you just push a couple buttons and its in your account.

Or scams had to be sent by hard mail. Now a computer sends them out and you can get idiots right away.

 

[Fern]

Originally posted by: jjsole
link

Fascinating.

Culprit(s)?

Firstly it is only suspected fraud.

Institutions such as banks, insurers and casinos are required by law to report suspicious activities to federal authorities under 20 categories.

Otherwise, I'd guess some portion of the recent increase has to with people filing bogus asset statements in an effort to either keep their home, or get out of paying (liquidating other assets) in the even of forclosure.

Could be hard times lead to desperate measures (fraud). Also as the market drops, more and more people complain of fraud etc as their money dissapears. In some cases they may be right, as the saying goes "when the tide goes out, you can see who ain't wearing a bathing suit" (e.g., Madoff).

Fern

 

[rudder]

Originally posted by: spidey07
It could be related to how connected everything is now? Compare this graph with one of internet growth and they may be stunningly similar. The dates look about right.

What year did Nigeria get internet access?

 

[StageLeft]

There should be some 0's on those numbers.

 

[gevorg]

Originally posted by: spidey07
More laws/regulation = more crimes being recorded/prosecuted.

:thumbsup: