Some of the world’s most malignant criminals never pulled a trigger or detonated an explosive, but they have ruined countless lives. By the most conservative estimates, white-collar crime costs the U.S. $300 billion per year—more than four times the annual budget of the Department of Education. So why do crimes such as insider trading, embezzlement, predatory lending, Ponzi schemes, and threat financing often go unpunished?
Armed with elite legal teams and well-heeled lobbyists, many white-collar criminals seem untouchable or “too big to jail.” But are they really? The Follow the Money series explores various types of financial crimes and interviews experts in the field on how to bring these robber barons to justice.
Follow the Money: Insider Trading
If two corporate executives know that their company is about to be acquired—but the public does not know yet—those executives would be guilty of insider trading if they made trades based on their private knowledge.
What is Threat Financing? A Conversation with a Professor
Threat financing is the most violent form of financial crime, defined as the funding of groups or individuals who pose a threat to domestic, international, and regional security; the term is still new, and has nuanced and evolving applications.
What is Securities & Commodities Fraud? A Conversation with a Professor
A new political tide in America is calling for deregulation and even considering rolling back the Sarbanes-Oxley Act. If that happens, the securities and commodities frauds that lay in waiting have the potential to obliterate pension funds and destabilize the global financial marketplace. The need for forensic accountants and financial investigators who have keen minds with integrity to match is dire.
What is White-Collar Crime? Conversations with a Former FBI Special Agent
Some of the most devastating crimes of the 21st century have not taken place in a dark alley, but rather in an air-conditioned office with a fountain pen. A conservative estimate puts the cost of white-collar crime at over $250 billion each year, while others suggest it is closer to $500 billion.
What is Money Laundering?
Money laundering investigations have busted kingpins of international criminal organizations, prevented terrorists from carrying out attacks, exposed double agent spies, and even contributed to the resignation of a United States president.