DOCSLIB.ORG

Apgyearly Typologies Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Apgyearly Typologies Report APG YEARLY TYPOLOGIES REPORT 2016 Methods and Trends of Money Laundering and Terrorism Financing Asia/Pacific Group on Money Laundering Approved and adopted, 8 September 2016 APG Yearly Typologies Report 2016 Applications for permission to reproduce all or part of this publication should be made to: APG Secretariat Locked Bag A3000 Sydney South New South Wales 1232 AUSTRALIA Tel: +61 2 9277 0600 E Mail: [email protected] Web: www.apgml.org © 8 September 2016/All rights reserved 2 CONTENTS INTRODUCTION ................................................................................................................................................. 4 1. WORKSHOPS AND PROJECTS UNDERTAKEN BY APG IN 2015 - 2016 ......................................... 5 1.1 2015 APG Typologies Workshop ............................................................................................................ 5 1.2 Status of current and possible new typologies projects ............................................................................ 6 2. OVERVIEW OF FATF AND FATF-STYLE REGIONAL BODIES’ TYPOLOGY PROJECTS ........ 7 2.1 FATF Typology Projects .......................................................................................................................... 7 2.2 EAG – Eurasian Group on Combating Money Laundering and Financing of Terrorism ......................... 8 2.3 ESAAMLG – The Eastern and Southern Africa AML Group ................................................................. 8 2.4 MONEYVAL – The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism ................................................................................................................ 9 2.5 The Egmont Group ................................................................................................................................... 9 3. TRENDS IN MONEY LAUNDERING & TERRORISM FINANCING .............................................. 10 3.1 Research or Studies Undertaken on ML/TF Methods and Trends by APG members and observers ..... 10 3.2 Association of Types of ML or TF with Predicate Activities................................................................. 13 3.3 Emerging Trends; Declining Trends; Continuing Trends ...................................................................... 15 3.4 Criminal knowledge of and response to law enforcement / regulations ................................................. 20 4. CASE STUDIES OF ML AND TF ............................................................................................................... 22 4.1 Association with corruption (corruption facilitating ML or TF) ............................................................ 22 4.2 Laundering proceeds from corruption .................................................................................................... 25 4.3 Abuse of charities for terrorist financing ................................................................................................ 27 4.4 Use of offshore banks and international business companies, offshore trusts ........................................ 28 4.5 Use of virtual currencies ......................................................................................................................... 34 4.6 Use of professional services (lawyers, notaries, accountants) ................................................................ 35 4.7 Trade based money laundering and transfer pricing ............................................................................... 38 4.8 Underground banking/alternative remittance services/hawala ............................................................... 40 4.9 Use of the internet (encryption, access to IDs, international banking, etc.) ........................................... 43 4.10 Use of new payment methods / systems ................................................................................................. 47 4.11 Laundering of proceeds from tax offences ............................................................................................. 51 4.12 Real Estate, including roles of real estate agents .................................................................................... 54 4.13 Association with human trafficking and people smuggling ................................................................... 56 4.14 Use of nominees, trusts, family members or third parties ...................................................................... 57 4.15 Gambling activities (casinos, horse racing, internet gambling etc.) ....................................................... 64 4.16 Mingling (business investment) ............................................................................................................. 66 4.17 Use of shell companies/corporations ...................................................................................................... 68 4.18 Currency exchanges/cash conversion ..................................................................................................... 75 4.19 Currency smuggling (including issues of concealment and security) .................................................... 76 4.20 Use of credit cards, cheques, promissory notes, etc. .............................................................................. 77 4.21 Structuring (smurfing) ............................................................................................................................ 79 4.22 Wire transfers/Use of foreign bank accounts ......................................................................................... 80 4.23 Commodity exchanges (barter – e.g. reinvestment in illicit drugs) ........................................................ 82 4.24 Use of false identification ....................................................................................................................... 83 4.25 Gems and Precious Metals ..................................................................................................................... 83 4.26 Purchase of valuable assets (art works, antiquities, race horses, etc) ..................................................... 85 4.27 Investment in capital markets, use of brokers ........................................................................................ 86 4.28 TF and Foreign fighter ........................................................................................................................... 87 5. INTERNATIONAL COOPERATION & INFORMATION SHARING .................................................................... 90 5.1 Cases of Cooperation between jurisdictions ................................................................................................... 90 6. USEFUL LINKS ......................................................................................................................................... 93 7. ACRONYMS .............................................................................................................................................. 95 3 INTRODUCTION Background 1 The Asia/Pacific Group on Money Laundering (APG) is the regional anti-money laundering/combating the financing of terrorism (AML/CFT) regional body for the Asia/Pacific. The APG produces regional typologies reports on money laundering (ML) and terrorist financing (TF) techniques to assist governments and other AML/CFT stakeholders to better understand the nature of existing and emerging ML and TF threats and pursue effective strategies to address those threats. Typologies studies assist APG members to implement effective strategies to investigate and prosecute ML and TF, as well as design and implement effective preventative measures. When a series of ML or TF arrangements are conducted in a similar manner or using the same methods, they are generally classified as a typology. 2 The APG Yearly Typologies Report is provided for under the APG’s Strategic Plan and the APG Typologies Working Group Terms of Reference and includes observations on ML and TF techniques and methods. These observations are intended to assist with identifying instances of suspicious financial activity in the real world. It is hoped that the case studies and indicators included in this report will assist front-line financial institutions and non-financial businesses and professions (casinos, accountants, lawyers, trust and company service providers, real estate agents, etc.) involved in implementing preventative measures, including customer due diligence and suspicious transaction reporting, to detect and combat ML and TF. 3 Each year APG members and observers provide information on ML and TF cases, trends, research, regulatory action and international cooperation. The information collected not only provides the basis for a case study collection but also for selection and design of in-depth studies on particular typology topics. The information also supports the work of the network of typology experts involved in the APG Typologies Working Group. 4 The case studies featured in this report are only a small slice of the work going on across the Asia/Pacific and other regions to detect and combat ML and TF. Many cases cannot be shared publicly due to their sensitive nature or to ongoing investigative or legal processes. The report contains a selection of illustrative cases of various typologies gathered from APG members’ reports as well as open sources. It should be noted that some of the cases included took
Load more

Recommended publications
  • Identity Theft Literature Review
    The author(s) shown below used Federal funds provided by the U.S. Department of Justice and prepared the following final report: Document Title: Identity Theft Literature Review Author(s): Graeme R. Newman, Megan M. McNally Document No.: 210459 Date Received: July 2005 Award Number: 2005-TO-008 This report has not been published by the U.S. Department of Justice. To provide better customer service, NCJRS has made this Federally- funded grant final report available electronically in addition to traditional paper copies. Opinions or points of view expressed are those of the author(s) and do not necessarily reflect the official position or policies of the U.S. Department of Justice. This document is a research report submitted to the U.S. Department of Justice. This report has not been published by the Department. Opinions or points of view expressed are those of the author(s) and do not necessarily reflect the official position or policies of the U.S. Department of Justice. IDENTITY THEFT LITERATURE REVIEW Prepared for presentation and discussion at the National Institute of Justice Focus Group Meeting to develop a research agenda to identify the most effective avenues of research that will impact on prevention, harm reduction and enforcement January 27-28, 2005 Graeme R. Newman School of Criminal Justice, University at Albany Megan M. McNally School of Criminal Justice, Rutgers University, Newark This project was supported by Contract #2005-TO-008 awarded by the National Institute of Justice, Office of Justice Programs, U.S. Department of Justice. Points of view in this document are those of the author and do not necessarily represent the official position or policies of the U.S.
    [Show full text]
  • Tracking Fraudulent Activities in Real Estate Transactions
    Tracking Fraudulent Activities in Real Estate Transactions Thaer SHUNNAR, Palestine and Michael BARRY, Canada Key words: ABC-Construction, Oklahoma Flip, Outlier Detection, Data Mining, Mortgage Fraud, Fraud in Real Estate, Classification, Quadratic Discriminant analysis. SUMMARY Land transaction fraud is a serious problem in many parts of the world, and it occurs under different land administration systems. In general, property transaction fraud falls into two categories; fraud by forgery and fraud by impersonation. Racketeers have three general motives to engage in real estate fraud: (1) to further other criminal activities, (2) for direct profit, and (3) to shelter money derived from other criminal activities. This paper discusses fraud specific to real estate. Many attributes of the real estate sector make it prone to criminal investment. Real estate is a high value, sizeable economic sector. However, it lacks transparency; each real estate object is unique, it provides a safe investing environment, and speculation in real estate is a tradition. Fraud in real estate is widespread in developed and developing countries, and in the former many of the fraudulent schemes are enabled by technology. The paper describes some of the schemes used to commit property frauds and the patterns that might be identified in a land registry database. Several indicators are used to identify a fraud case. These indicators may be related to the real estate object, the owner, the financier, the financing method or the purchase sum. The testing of a classification model using Quadratic Discriminant Analysis to identify real estate objects that might have been a target of an ABC-Construction scheme is described.
    [Show full text]
  • 2020 PAC Directory
    PAC CO-CHAIRS DANA HILL Hill Hill Carter Franco Cole & Black, P.C. [email protected] BRIAN LERNER Kim Vaughan Lerner, LLP [email protected] LAURIE SHERWOOD Walsworth [email protected] About NAMWOLF Labor & Employment PAC The Labor and Employment PAC is a national network of highly skilled and pre-screened minority and women owned law firms with significant expertise representing employers in labor and employment matters. Member firms have experience in a host of practice areas that fall under the labor and employment umbrella including (for example), litigation of discrimination, retaliation, harassment, ERISA and wage and hour claims; defense of class actions; trade secret litigation; affirmative action, OFCCP, Sarbanes-Oxley; OSHA compliance; Union negotiations and Arbitrations; training, counseling, handbooks and conducting internal investigations. Through the Pac, NAMWOLF brings together law firms and major employers to create mutually beneficial partnerships, develop cost effective workplace solutions, provide effective legal defense and achieve winning results. About NAMWOLF Founded in 2001, NAMWOLF is a nonprofit trade association comprised of minority and women-owned law firms who have exhibited excellence in the legal profession, and other interested parties throughout the United States. Many corporations and public entities committed to diversifying their outside law firm ranks have focused on the utilization of minority and female attorneys at majority firms. However, the most effective way for corporations and public entities to increase diversity in the legal profession is to increase their utilization of minority and women-owned law firms. NAMWOLF’s mission is to promote true diversity in the legal profession by fostering the development of long lasting relationships between preeminent minority and women-owned law firms and corporations and public entities.
    [Show full text]
  • Do Financial Misconduct Experiences Spur White-Collar Crime?*
    Do Financial Misconduct Experiences Spur White-Collar Crime? * Steffen Andersen Copenhagen Business School and CEPR [email protected] Tobin Hanspal Research Center SAFE Goethe University Frankfurt [email protected] Kasper Meisner Nielsen Copenhagen Business School and HKUST [email protected] October 2018 Abstract: We use individual police records on criminal activity to investigate whether personal experiences with financial misconduct spur white-collar crime. Experiences with financial misconduct derives from individuals holding accounts at distressed banks where executives are prosecuted for misconduct. We show that individuals with such experiences are two to three times more likely to be convicted of white-collar crime themselves, compared to similar customers of distressed banks where the financial supervisory authority did not press charges. Our results are driven by the extensive margin: the increase in white-collar crime is caused almost exclusively by customers who had no prior history of criminal activity. JEL Classifications: K42, D03, D14, G11, Keywords: Financial misconduct, Experiences, White-collar crime, Financial crisis, Economics of crime * We thank Martin Brown, Francesco D'Acunto, Stephen Dimmock, and Horst Entorf, and seminar participants at Copenhagen Business School, Danmarks Nationalbank, Goethe University Frankfurt, Lund University, University of Munich, and conference participants at the Research in Behavioral Finance Conference (RBFC 2018), German Finance Association, and Swiss Finance Association for helpful comments and suggestions. Andersen is grateful to the European Research Council for financial support through grant 639383. Hanspal thanks the Joachim Herz Stiftung and Research Center SAFE for generous support. Nielsen thanks Hong Kong Research Grant Council for financial support (RGC Grant 642312).
    [Show full text]
  • UNITED STATES DISTRICT COURT NORTHERN DISTRICT of ILLINOIS EASTERN DIVISION UNITED STATES of AMERICA V. DANIEL SAMUEL ETA, Also
    AO 91 (Rev. 11/11) Criminal Complaint AUSA Peter S. Salib (312) 697-4092 AUSA Charles W. Mulaney (312) 469-6042 UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION UNITED STATES OF AMERICA CASE NUMBER: v. DANIEL SAMUEL ETA, also known as “Captain” and “Etaoko;” OLANIYI ADELEYE OGUNGBAIYE, also known as “DonChiChi;” BABATUNDE LADEHINDE LABIYI, also known as “Junior;” UNDER SEAL BARNABAS OGHENERUKEVWE EDJIEH; SULTAN OMOGBADEBO ANIFOWOSHE, also known as “Ayinde;” BABATUNDE IBRAHEEM AKARIGIDI, also known as “AK;” ADEWALE ANTHONY ADEWUMI; MIRACLE AYOKUNLE OKUNOLA; and OLUROTIMI AKITUNDE IDOWU, also known as “Idol” CRIMINAL COMPLAINT I, the complainant in this case, state that the following is true to the best of my knowledge and belief. From in or around 2016 to in or around August 2018, at Chicago, in the Northern District of Illinois, Eastern Division, and elsewhere, the defendant(s)s violated: Code Section Offense Description Title 18, United States Code, conspired with each other, and others known and Sections 1343 and 1349 unknown, to commit a wire fraud scheme This criminal complaint is based upon these facts: X Continued on the attached sheet. ANDREW JOHN INNOCENTI Special Agent, Federal Bureau of Investigation (FBI) Sworn to before me and signed in my presence. Date: December 4, 2018 Judge’s signature City and state: Chicago, Illinois JEFFREY COLE, U.S. Magistrate Judge Printed name and Title UNITED STATES DISTRICT COURT ss NORTHERN DISTRICT OF ILLINOIS AFFIDAVIT I, Andrew John Innocenti, being duly sworn, state as follows: I. INTRODUCTION 1. I am a Special Agent with the Federal Bureau of Investigation (FBI).
    [Show full text]
  • Unemployment Fraud Guide in the United States Unemployment Claims Fraud Can Occur at Any Time
    Unemployment Fraud Guide In the United States unemployment claims fraud can occur at any time. It is important to remain vigilant in auditing and reporting fraud. This guide will provide CCC clients with an overview of unemployment fraud and solutions for both preventing and managing unemployment fraud claims. How do the criminal actors get the data they use to file the fraudulent unemployment claims? The criminals obtain the stolen identity using a variety of techniques, including • The online purchase of stolen PII (Personal Identifying Information), • Previous data breaches, • Computer intrusions, • Cold-calling victims while using impersonation scams, • Email phishing schemes, • Physical theft of data from individuals or third parties, • Theft of data from public websites and social media accounts • Other methods. How are fraudulent unemployment claims identified? Most employers become aware of fraudulent unemployment claims by receiving an claim notice from a state unemployment agency for an employee who continues to be employed. Many victims of identity theft related to unemployment insurance claims do not know they have been targeted until they try to file a claim for unemployment insurance benefits, receive a notification from the state unemployment insurance agency, receive an IRS Form 1099-G showing the benefits collected from unemployment insurance, or get notified by their employer that a claim has been filed while the victim is still employed. How are employees affected by fraudulent unemployment claims? Employees that are still employed by the employer are at increased risk for other types of identity theft including: • Debit/Credit Card Fraud • Driver’s License/ID Theft • Account Takeover • Mortgage Fraud • Tax Return Theft • Auto lending Fraud • Employment Fraud Laid-off workers may remain in limbo for weeks or months.
    [Show full text]
  • Forensic Fraud: Evaluating Law Enforcement and Forensic Science Cultures in the Context of Examiner Misconduct
    Forensic Fraud: Evaluating law enforcement and forensic science cultures in the context of examiner misconduct Presented by Brent E. Turvey, MS Student ID: 13057167 Submitted in total fulfillment of the requirements of the degree of Doctor of Philosophy September 2012 Criminology Department Faculty of Humanities and Social Sciences Bond University Queensland, Australia Abstract Forensic fraud occurs when forensic examiners provide sworn testimony, opinions, or documents (e.g., reports and professional resumes) bound for court that contain deceptive or misleading findings, opinions, or conclusions, deliberately offered in order to secure an unfair or unlawful gain. Such misconduct has an undeniably devastating impact: it destroys the reputations of the forensic examiners involved, if not their careers; it erodes public confidence in the institutions where they are employed; it can result in overturned convictions, individual and institutional liability, and costly civil judgments; and it is corrosive to the collective faith in the justice system as a whole. However, owing to a lack of research into the phenomenon of forensic fraud that is exacerbated by the constraints on would-be whistleblowers, in tandem with the denials of forensic science stakeholders, there is a general perception that forensic fraud is primarily the result of a few “bad apples” rather than being cultural or systemic in origin. This dissertation examines the problem of forensic fraud both theoretically and empirically, to assess the relationships between examiner, workplace, evidentiary, and impact variables. The present research shows that the majority of forensic examiners work for law enforcement or government agencies, and almost exclusively for the police and prosecution. Law enforcement culture is often defined by traits that afford the motivations and rationalizations for a deviant internal subculture, actively cultivating fraud within its ranks.
    [Show full text]
  • Employment Identity Theft Notice
    Employment Identity Theft Notice Leif harms her unorthodoxy thrillingly, she prigging it huskily. Skulking Abraham sometimes triturating his spodumene hilariously and set so surgically! Unslaked Christofer apprenticed: he spurrings his Kremlinology infectiously and seductively. If you can include a valid phone number of identity theft employment, new relic config window in their report The station I received does not identify which employees have incorrect information. How both our limited commonterminology and evaluate its efforts. When employment department using a notice may not consistent for employers should hang up new resources, employer notices have received numerous reports. With a temper of potential identity theft related to an employee the employer. Unemployment Fraud Notice & Info Wheaton College IL. What to Letter 5071C The IRS Protecting Your Identity. Report Unemployment Fraud to Maine Mainegov. Doing a notice may face risks that links that aspect that letter for employment identity theft notice or hand deliver them that only the risks posed by holding the employee whether you are currently selected victims of what are seeing and phone. Jake stroup is often employees had no additional revenue should i am i have been used my credit for? Any substantial proof shall have went the theftbills Internal library Service IRS notices etc Tell the deal someone stole your identity and muscle need. For handling that your permission, email messages in error processing times, archived posts may continue until modified as unemployment. And are tracking or notices have selected victims of which of your credit, you can include all forms for a nation awash in. It still job not automatically mean that you actually being audited but it does narrow the IRS is large a closer look at your word This foliage can take a day now two or it can range much any longer.
    [Show full text]
  • Health Frauds and Quackery Hearings
    HEALTH FRAUDS AND QUACKERY HEARINGS BEFORE THE SUBCOMMITTEE ON FRAUDS AND MISREPRE- SENTATIONS AFFECTING THE ELDERLY OF THE SPECIAL COMMITTEE ON AGING UNITED STATES SENATE EIGHTY-EIGHTH CONGRESS SECOND SESSION Part 1.-San Francisco, Calif. JANUARY 13, 1964 Printed for the use of the Special Committee on Aging U.S. GOVERNMENT PRINTING OFFICE 31-135 WASHINGTON: 1964 For sale by the Superintendent of Documents, U.S. Government Printing Office Washington., D.C. 20402 -Price 45 cents SPECIAL COMMITTEE ON AGING GEORGE A. SMATHERS, Florida, Chairman PAT McNAMARA, Michigan EVERETT McKINLEY DIRKSEN, Illinois CLAIR ENGLE, California BARRY GOLDWATER, Arizona HARRISON A. WILLIAMS, JR., New Jersey FRANK CARLSON, Kansas MAURINE B. NEUBERGER, Oregon WINSTON L. PROUTY, Vermont WAYNE MORSE, Oregon KENNETH B. KEATING, New York ALAN BIBLE, Nevada HIRAM L. FONG, Hawaii FRANK CHURCH, Idaho E. L. MECHEM, New Mexico JENNINGS RANDOLPH, West Virginia EDMUND S. MUSKIE, Maine EDWARD V. LONG, Missouri FRANK E. MOSS, Utah EDWARD M. KENNEDY, Massachusetts RALPH W. YARBOROUGH, Texas J. WiLmamaa NORMAN, Jr., Staff Director JoHIN Guy MILLER, Minority Staff Director SUBCOMMITTEE ON FRAUDS AND MISREPRESENTATIONS AFFECTING TEE ELDERLY HARRISON A. WILLIAMS, JR., New Jersey, Chairman MAURINE B. NEUBERGER, Oregon KENNETH B. KEATING, New York WAYNE MORSE, Oregon WINSTON L. PROUTY, Vermont FRANK CHURCH, Idaho HIRAM L. FONG, Hawaii EDMUND S. MUSKIE, Maine E. L. MECHEM, New Mexico EDWARD V. LONG, Missouri EDWARD M. KENNEDY, Massachusetts RALPH W. YARBOROUGH, Texas WILLIAM E. ORIOL, Professional Staff Member NOTE.-Four hearings on health frauds and quackery were held and they are identified as follows: Part 1-San Francisco, Calif., Jan.
    [Show full text]
  • Forensic Fraud : Evaluating Law Enforcement and Forensic Science Cultures in the Context of Examiner Misconduct
    Bond University DOCTORAL THESIS Forensic Fraud : Evaluating Law Enforcement and Forensic Science Cultures in the Context of Examiner Misconduct Turvey, Brent Award date: 2013 Link to publication General rights Copyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. • Users may download and print one copy of any publication from the public portal for the purpose of private study or research. • You may not further distribute the material or use it for any profit-making activity or commercial gain • You may freely distribute the URL identifying the publication in the public portal. Forensic Fraud: Evaluating law enforcement and forensic science cultures in the context of examiner misconduct Presented by Brent E. Turvey, MS Student ID: 13057167 Submitted in total fulfillment of the requirements of the degree of Doctor of Philosophy September 2012 Criminology Department Faculty of Humanities and Social Sciences Bond University Queensland, Australia Abstract Forensic fraud occurs when forensic examiners provide sworn testimony, opinions, or documents (e.g., reports and professional resumes) bound for court that contain deceptive or misleading findings, opinions, or conclusions, deliberately offered in order to secure an unfair or unlawful gain. Such misconduct has an undeniably devastating impact: it destroys the reputations of the forensic examiners involved, if not their careers; it erodes public confidence in the institutions where they are employed; it can result in overturned convictions, individual and institutional liability, and costly civil judgments; and it is corrosive to the collective faith in the justice system as a whole.
    [Show full text]
  • A Report Concerning the Macro and Micro Analyses of Human Trafficking
    TRACE WP1 D1.3: A report concerning the macro and micro analyses of human trafficking Project acronym: TRACE Project title: Trafficking as A Criminal Enterprise Grant number: 607669 Programme: Seventh Framework Programme – Security Research Objective: SEC-2013.6.1-3 Contract type: Coordination and support action Start date of project: 01 May 2014 Duration: 24 months Website: www.trace-project.eu Deliverable D1.3: A report concerning the macro and micro analyses of human trafficking Author(s): Toine Spapens, Ana-Maria Tamas, Aija Lulle, Hugo Durieux, Vineta Polatside, Cristina Dragota, Angelos Constantinou, Julia Muraszkiewicz Dissemination level: Public Deliverable type: Final Version: 1 Submission date: 25 November 2014 1 TRACE WP1 D1.3: A report concerning the macro and micro analyses of human trafficking Table of Contents Executive summary ................................................................................. 6 PART 1. General Introduction ................................................................ 8 1.1 Research questions ............................................................................................................ 8 1.2 Definitions ......................................................................................................................... 9 1.3 Information sources ........................................................................................................... 9 2 Theoretical framework ..................................................................... 11 2.1 Introduction ....................................................................................................................
    [Show full text]
  • Findings from a Pilot Study to Measure Financial Fraud in the United States
    FINDINGS FROM A PILOT STUDY TO MEASURE FINANCIAL FRAUD IN THE UNITED STATES A collaboration between the Stanford Center on Longevity and the FINRA Investor Education Foundation. February 2017 Marguerite DeLiema Gary Mottola Martha Deevy longevity.stanford.edu ACKNOWLEDGEMENTS Survey development and administration was a joint effort between the Stanford Center on Longevity, the FINRA Investor Education Foundation, the Bureau of Justice Statistics, and Arc Research. The authors would like to thank the FINRA Investor Education Foundation for sponsoring the project, and Lynn Langton and Michael Planty from the Bureau of Justice Statistics for consultation on survey design. They would also like to thank Amy Nofziger from the AARP Foundation, as well as Melodye Kleinman and Anna Mills from the National Telemarketing Victim Call Center for recruiting participants to provide feedback on the survey. We are grateful to Joyce Cheng and Brett Dowling for their assistance with data analysis, and to Sasha Johnson-Freyd for formatting this report. Special thanks to Kendrick Sadler, Andrew Tuck, and Christopher Bumcrot from Arc Research for survey design and implementation. The authors would also like to acknowledge the expertise provided by participants who attended the Taxonomy of Fraud Working Group and The True Impact of Fraud: A Roundtable of Experts meetings in the years leading up to survey development. Findings from a Pilot Study to Measure Financial Fraud in the United States | 2017 1 CONTENTS Acknowledgements .........................................................................................................................................
    [Show full text]