The Prevention and Control of Economic Crime

Abstract

Economic crime poses significant risks to the economic & social development of many nations. Some of its variations are discussed, eg, insurance fraud, telemarketing fraud, superannuation industry fraud, bribery & corruption, & credit card fraud. These economic crimes have been greatly facilitated by recent developments in online commerce. It is difficult to identify the offender & establish jurisdiction in online crime. Countermeasures for prevention & control are discussed: audits, specialists in serious economic crime, reporting of cash transactions, commercial third parties, responsible banking, & sanctioning of offenders. Victims, government, & third parties need to be involved in reducing opportunities for fraud. M. Pflum