White collar crime is a serious problem in the United States and around the world. The FBI estimates that billions of dollars are lost each year due to fraud and other white collar crimes. In this blog post, we will take a look at some of the latest statistics on white collar crime and what they mean for businesses and individuals.
We will also discuss some of the steps that can be taken to help prevent and detect white collar crime. Finally, we will discuss how white collar crime affects the economy and what can be done to reduce its impact.
White Collar Crime: The Most Important Statistics
The mean age of white collar crime offenders is 41, with 77.6% of them being male and 73.9% being white.
White collar crime costs the US government an estimated $1.45 billion annually in housing and imprisoning those incarcerated for these crimes, in addition to the money lost due to the crimes.
White Collar Crime Statistics Overview
The amount of money lost due to the UK government’s COVID-19 relief schemes due to fraud or error is estimated to be less than 4.8%.
The UK government is taking steps to ensure that the money being spent on relief schemes is being used efficiently and not being taken advantage of by criminals. This shows that the government is taking steps to combat white collar crime and ensure that the money is being used to help those who need it most.
Furlough fraud is expected to be £4.5 billion as of November 2022, significantly lower than the previously suggested £5.8 billion, with 13,775 reports made of potential fraud.
White Collar Crimes decreased by 53.5% between 2011 and 2021.
There has been a significant decrease in the number of white collar crimes being committed in the US, which could be due to increased awareness of the consequences of these crimes, or increased enforcement of laws surrounding white collar crimes.
In 2017, UK Finance reported that over £1.4 billion was saved as a result of fraud prevention.
Only 34% of those who committed white collar crimes in 8 US states were female, and 61% were white, which is important to consider, as it may indicate a need for further investigation into why this is the case.
The mean age of white collar crime offenders is 41, with 77.6% of them being male and 73.9% being white.
Thus, the majority of white collar crime offenders are male and white, which can help inform policy makers and law enforcement on how to best target and prevent this type of crime.
70% of major companies reported economic crime in 2001 according to the European Economic Crime Survey.
White Collar Crime victims are most commonly employers, with 29% of court cases due to this category.
White collar crime costs the US government an estimated $1.45 billion annually in housing and imprisoning those incarcerated for these crimes, in addition to the money lost due to the crimes.
This highlights the significant financial burden that white collar crime places on the US government, as well as the indirect impacts of the crime on businesses and customers.
8% more people believe contract fraud is more serious than street theft.
It suggests that people are more likely to take action against fraud, which can help to reduce the prevalence of white collar crime.
Conclusion
White collar crime is a serious issue that affects people all over the world. The statistics show that it is on the rise and that it is costing businesses and individuals billions of dollars each year.
It is important to be aware of the risks associated with white collar crime and to take steps to protect yourself and your business. By understanding the statistics and taking the necessary precautions, you can help to reduce the impact of white collar crime on your life.
References
1 – https://www.gov.uk/government/publications/measuring-error-and-fraud-in-the-covid-19-schemes/error-and-fraud-in-the-covid-19-schemes-methodology-and-approach-an-update-for-2022
2 – https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1035552/HMRC_Annual_Report_and_Accounts_2020_to_2021_Web.pdf
3 – https://www.zippia.com/advice/white-collar-crime-statistics/#:~:text=According%20to%20our%20research%3A,has%20decreased%20by%20over%2050%25.
4 – https://www.ukfinance.org.uk/policy-and-guidance/reports-publications/fraud-facts-2018
5 – https://www.bjs.gov/index.cfm?ty=pbdetail&iid=3630
6 – https://www.researchgate.net/figure/Demographic-Characteristics-of-White-Collar-and-Common-Offenders_tbl1_252990822
7 – https://www.shortcutstv.com/wp-content/uploads/2020/02/white_collar-vics_crim.pdf
8 – https://biopen.bi.no/bi-xmlui/bitstream/handle/11250/93812/Gottschalk_2013_MRIL.pdf?sequence=1&isAllowed=y
9 – https://www.academia.edu/40135705/IMPACT_OF_WHITE_COLLAR_CRIME_ON_SOCIETY
10 – https://www.ojp.gov/pdffiles1/Digitization/181968NCJRS.pdf
