Financial crime encompasses any illegal act by individuals or groups aimed at acquiring money or property from others for financial or professional advantage. These activities, often conducted by persons or criminal networks, are focused on obtaining economic gains through illicit means. In recent years, financial crimes have emerged as a pressing global concern, inflicting considerable damage on both the economy and society.
Financial crime ranges from basic theft or fraud committed by single individuals to large-scale, global schemes masterminded by organized criminal syndicates. Financial crime is commonly considered as covering the following offenses:
Financial crimes are not just a threat to the economic fabric but also erode public trust in financial institutions and systems. Understanding their various forms is the first step in combating these crimes effectively. As they evolve with technology and globalization, continuous vigilance and adaptation of countermeasures are essential to safeguard economies and societies worldwide.
