A Guide on the Basics of Financial Crime

Lisa D. Smith, Inc. helps agencies, firms, and other business by providing compliance advisory on matters such as financial crimes.


The term “economic and financial crime” broadly refers to any nonviolent crime that results in a financial loss. These crimes comprise of a wide range of illegal activities. More specifically, financial crimes are crimes against property, involving the unlawful conversion of the ownership of property (belonging to one person) to one's own personal use and benefit.

Financial crimes involve offenses such as:

  • Bank Fraud

  • Bribery

  • Check Fraud

  • Corporate Fraud

  • Credit Card Fraud

  • Embezzlement

  • Forgery and Counterfeiting (Including the Production of Counterfeit Money and Consumer Goods)

  • Health Care Fraud

  • Identity Theft

  • Medical Fraud

  • Money Laundering

  • Mortgage Fraud

  • Payment (Point of Sale) Fraud

  • Scams or Confidence Tricks

  • Securities Fraud (Including Insider Trading)

  • Tax Evasion

  • Theft

Financial crimes can also involve these criminal acts:

  • Armed Robbery

  • Burglary

  • Computer Crime

  • Elder Abuse

  • Violent Crimes Such as Robbery or Murder


Who Can Commit Financial Crimes?

Financial crime offenders can be individuals, corporations, or organized crime groups. Victims can range from individuals, corporations, governments, and entire economies.

Economic Crimes

Economic crimes refer to illegal acts committed by an individual or a group of individuals to obtain a financial or professional advantage. In such crimes, the offender's principal motive is economic gain.

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