Financial The FBI conducted 2,001 Fraud costs billion $40-50 white collar prosecutionsgovt in 2013: F Economic and financial cost annually in direct, measurable costs A cc Financial institutionphone (17.7%) American individuals and businesses Mortgage (12.0%)bank employment ID Healthcare (11.0%) billions of dollars every year. Various forms The FTC received 1.5 million fraud-related complaints Securities (4.8%) B of fraud—including mortgage, health in 2014, with losses totaling $1.7 billion Other (54.5%) care, mass marketing, and securities

and commodities fraud—can generate An FTC survey estimated that, in 2011, 37.8 million In 2011, the massive losses to individual and corporate incidents of fraud affected 25.6 million people FBI investigated: (10.8% of U.S. adults) C victims. Researchers widely believe that 2,691 cases G financial crime is underreported, and these Victims who recently experienced a serious negative resulting in 1,223 indictments/informations* crimes can be difficult to investigate and life event were more likely to have prosecute. Successfully prosecuted fraud 2.5x experienced fraud C 1,082 convictions cases, however, can result in billions of $1.4 billion in $116.3 million dollars in criminal restitution, fines, and civil restitution orders in fines

settlements, as well as millions of dollars in >> 65% of victims experienced at least

seizures and civil restitution. onenonfinancial type of non-financialother cost 2,690 healthcare fraud cases G (e.g., stress, health problems, trouble sleeping) to a serious degree D resulting in 1,676 indictments/informations*

NOTE: Hover for data hyperlinks to source material. 736 convictions

of identity victims who >> 47% $1.2 billion in $1 billion $1 billion in spentemotional 6+ monthsother resolving financial or restitution orders in fines civil settlements credit problems experienced severe emotional distress as a result E 1,846 cases G

resulting in 520 indictments/informations* >> 29% of victims estimate incurring

IN PARTNERSHIP WITH $1,000+indirect in indirectother financial costs, 394 convictions (e.g., late fees, legal fees, lost wages) D $8.8 billion $113 million $36 million $751 million in restitution in fines in recoveries in forfeitures orders Internet-based Financial Crimes

Identity theft is a crime that involves the illegal access and use of The Internet Crime Complaint Center received 269,422 complaints in an individual’s personal or financial information H 2014, responsible for $800.5 million in losses: I

I Most Common Types of Identity Theft in 2014: B IC3 reports over last 5 years

Government documents/ 303,809 314,246 benefits fraud (39%) 289,974 262,813 269,422 govt Credit card theft (17%) cc Phone/utilities fraud (13%) 2010 2011 2012 2013 2014 phone (8%) bank Employment-related employment ID identity fraud (5%) Most costly scams in 2014 (in millions of dollars) I loan Loan fraud (4%) $86.7 other Other (14%) Romance scams $56.2 Auto fraud Real estate fraud $19.8 $16.3 Intimidation/extortion scams $11.3 16.6 million people, or 7% of the population Government impersonation scam age 16+, were victims of identity theft in 2012 E

NOTES Non-Traditional-Costs-Of-Financial-Fraud-Survey- *An indictment is when a grand jury agrees that Findings.pdf >> Identity theft cost victims $24.7 billion in direct and indirect a prosecutor has enough evidence to try the E defendant. An information is when a prosecutor files E Bureau of Statistics, National Crime (e.g., legal fees, lost wages, bounced checks) losses in 2012 charging documents directly with the court, and a Victimization Survey Identity Theft Supplement, judge determines whether the case goes to trial. 2012: Victims of Identity Theft, (Washington, DC: U.S. Department of Justice, 2013), http://www.bjs.gov/ of in 2012 involved fraudulent use of an existing >> 85% SOURCES content/pub/pdf/vit12.pdf E financial account A Fraud Research Center, Scams, Schemes & F Transactional Records Access Clearinghouse, Slump Swindles: A Review of Consumer Financial in FBI White Collar Crime Prosecutions, http://trac. Fraud Research, http://fraudresearchcenter.org/ syr.edu/tracreports/crim/331 wp-content/uploads/2012/11/Scams-Schemes- G Federal Bureau of Investigation, Financial Crimes As household income 10% of people residing in households Swindles-FINAL-On-Website.pdf Report to Public: Fiscal Years 2010−2011, increases, residents are with an annual income of $75K+ B FTC, Consumer Sentinel Network Data Book, 2014, (Washington, DC: U.S. Department of Justice, 2012), more likely to become experienced identity theft in 2012 https://www.ftc.gov/system/files/documents/reports/ http://www.fbi.gov/stats-services/publications/ consumer-sentinel-network-data-book-january- financial-crimes-report-2010-2011/financial-crimes- E victims of identity theft: vs december-2014/sentinel-cy2014-1.pdf report-2010-2011.pdf of people in households with C Keith B. Anderson, “Consumer Fraud in the H National Center for Victims of Crime, Taking 4.9% United States, 2011: The Third FTC Survey,” Action: An Advocate’s Guide to Assisting Victims of an annual income ≤ $24,999 (Washington, DC: Bureau of Economics, Federal Financial Fraud, (Washington, DC: 2013), https:// Trade Commission, 2013), http://www.ftc. www.saveandinvest.org/file/document/taking- gov/sites/default/files/documents/reports/ action-advocates-guide-assisting-victims-financial- consumer-fraud-united-states-2011-third-ftc- fraud survey/130419fraudsurvey_0.pdf Fewer than 1 in 10 identity theft victims I Internet Crime Complaint Center, 2014 Internet (about ) reported the incident to police in 2012 E D FINRA Investor Education Foundation, Non- Crime Report, (National White Collar Crime Center, 9% Traditional Costs of Financial Fraud, http:// 2015), https://www.fbi.gov/news/news_blog/2014- www.saveandinvest.org/sites/default/files/ ic3-annual-report