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Types of Financial Crimes Plague Brazil, Study Reveals
Brazil’s struggle with violent crime has taken a staggering economic toll on the country, according to a groundbreaking study released yesterday by the presidential office for strategic affairs.
The Economic Costs of Crime in Brazil
The report sheds light on the scale and impact of financial crimes in Brazil. According to the study, public security costs totaled 1.36% of Brazil’s GDP in 2015, while spending on private security amounted to 0.94%, judicial processes 0.58%, incarceration 0.26%, and medical expenditures related to crime 0.05%. The killing of a young Brazilian costs approximately R$550,000 (around $150,000) in lost productivity over their lifetime.
The Burden of Violence
The economic burden of violence in Brazil equals roughly $77 billion per year, or 4.38% of GDP. This “regressive tax” and “monumental obstacle to economic growth” is a major concern for the country’s policymakers.
Ineffective Approaches to Crime Reduction
Despite increased spending on crime reduction, violent crime rates have continued to rise. The study suggests that Brazil’s favored approach to crime reduction - heavy-handed policing, punitive sentencing, and mass incarceration - has been ineffective. These measures may provide temporary security, but they are costly and yield few demonstrable results.
Cost-Effective Measures
On the other hand, the report highlights several cost-effective measures proven to prevent and reduce crime:
- Hot Spot Policing: Deploying officers to high-crime areas at times when crime is most likely to occur.
- Focused Deterrence: Recognizing that certain types of crime cluster in space, time, and among particular at-risk populations.
Other effective measures include:
- Multiple types of firearm regulations
- Smarter sentencing and incarceration policies
- Targeted interventions to modify public spaces
- Early childhood interventions
These strategies can reduce recidivism, help inmates become productive citizens, and foster high-quality infrastructure, public transport, green spaces, and community recreation in high-risk areas.
A Shift towards Evidence-Based Strategies
As Brazil faces monumental fiscal crises across all levels of government, policymakers must prioritize evidence-based strategies over good intentions. The study reveals that it is the citizens who are footing the bill for Brazil’s crime problem, and a shift towards more effective and efficient approaches is urgently required.