Financial Crime World

Financial Crime Prevention Efforts Intensified in US Industry

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The United States Department of Justice has announced a comprehensive strategy to prevent and disrupt financial crimes that can have devastating consequences for victims.

Aims of the Plan

  • Deter and prosecute corporate crime
  • Combat public corruption
  • Advance international anti-corruption efforts

Financial victimization via fraud reached an all-time high in 2020, with internet-enabled fraud being a major contributor. Corporate crime not only destabilizes markets but also creates risks to consumers.

Three Key Pillars

Deter and Prosecute Corporate Crime

  • Hold companies accountable for their criminal conduct
  • Prosecute individuals who commit and profit from corporate malfeasance
  • Lead efforts with the FBI, Criminal Division, and U.S. Attorney’s Offices
  • Partner with entities at every level of government and around the world

Combat Public Corruption

  • Enforce domestic anti-corruption laws targeting criminal corruption of federal, state, and local governments
  • Enhance coordination with law enforcement partners and prosecutors nationwide
  • Disrupt efforts by government officials to criminally abuse and profit from their positions
  • Investigate bribery, extortion, fraud, and other criminal conduct by public officials or those seeking to corrupt them

Combat Corporate Corruption and Advance International Anti-Corruption Efforts

  • Develop relationships with foreign law enforcement partners to tackle complex international fraud, money laundering, and corruption schemes
  • Redouble efforts to investigate and prosecute foreign corruption
  • Build the capacity of foreign partners to combat corruption before it reaches US shores

Key Performance Indicators

  • Percentage of corporate criminal cases in which individual responsibility was evaluated
  • Percentage of corporate criminal resolutions containing compliance reporting obligations that are evaluated by DOJ at least annually
  • Number of criminal disruptions or dismantlements in public corruption and fraud against the government

Leadership

The Department’s efforts to prevent financial crime will be led by various components, including:

  • Civil Division
  • Criminal Division
  • Tax Division
  • U.S. Attorney’s Offices
  • FBI