NCJ Number
216508
Journal
British Journal of Criminology Volume: 46 Issue: 6 Dated: November 2006 Pages: 1128-1144
Date Published
November 2006
Length
17 pages
Annotation
This paper presents findings from a global survey of just over 5,500 companies that solicited information on the companies' victimization, detection, and processing of some 2,900 incidents of economic crime.
Abstract
Findings show that despite regional and cultural differences for company locations, the companies reported similar patterns and reasons for the perpetration and victimization of economic crime. Also, they had adopted similar ways of handling these crimes. Survey responses indicate that economic crime is widespread. Companies provided data on the following types of economic crime: asset misappropriation, false pretenses, financial misrepresentation, corruption and bribery, insider trading, money laundering, and counterfeiting. Worldwide, 45 percent of the companies reported having been a victim of at least one of these seven types of economic crimes during the past 2 years (2004 and 2005). This confirms the findings of similar recent studies. High social status was a consistent characteristic of offenders across cultures. Eighteen percent of identified perpetrators belonged to the senior/top management, and 25 percent belonged to the middle management of their company. The financial loss and collateral damage (loss of company reputation) due to economic crime increased with the perpetrator's status in the company. Companies worldwide preferred internal settlements of cases when they were victimized by economic crime. Strategies of prevention and control threatened but did not give priority to the use of the criminal justice system. The findings presented are based on a combined dataset from two simultaneous studies. Data were collected in standardized computer-assisted telephone interviews with company managers in 34 countries. 4 tables, 26 notes, 32 references, and appended definitions of crime types