Financial Crime World

Financial Crime Prevention Strategies in United States Gain Momentum

The Department has unveiled a comprehensive strategy to prevent and disrupt financial crimes, aimed at curbing devastating financial losses suffered by victims of fraud and corporate malfeasance.

A Record-High Year for Financial Victimization

In 2020, a record-high number of reports of financial victimization via fraud were reported. This unprecedented level of financial crime has prompted the Department to take decisive action to prevent and disrupt such crimes.

The Multifaceted Strategy

The strategy is comprised of three key components:

  • Deterring and Prosecuting Corporate Crime: Holding companies accountable for their criminal conduct and prosecuting individuals responsible.
  • Combating Public Corruption: Enforcing domestic anti-corruption laws targeting the criminal corruption of federal, state, and local governments.
  • Combating Corporate Corruption and Advancing International Anti-Corruption Efforts: Developing relationships with foreign law enforcement partners to tackle complex international fraud, money laundering, and corruption schemes.

Key Components

Component 1: Deterring and Prosecuting Corporate Crime

The FBI, along with the Criminal Division and US Attorney’s Offices, will lead the effort to aggressively pursue corporate crime. This will involve partnering with entities at every level of government and around the world to tackle corporate crime.

Component 2: Combating Public Corruption

The Department remains committed to enforcing domestic anti-corruption laws targeting the criminal corruption of federal, state, and local governments. Through enhanced coordination with law enforcement partners and prosecutors nationwide, as well as expanded investigative analysis, the Department will seek to disrupt all efforts by government officials to criminally abuse their positions and profit from them.

Component 3: Combating Corporate Corruption and Advancing International Anti-Corruption Efforts

The Department will continue to develop relationships and work in parallel with foreign law enforcement partners to tackle complex international fraud, money laundering, and corruption schemes. This initiative aims to build the capacity of foreign partners to combat corruption and investigate and prosecute foreign corruption before it poses a threat to national security.

Measuring Success

The success of the strategy will be measured through key performance indicators, including:

  • Percentage of corporate criminal cases in which individual responsibility is evaluated
  • Compliance reporting obligations in corporate resolutions
  • Number of criminal disruptions or dismantlements in public corruption and fraud against the government
  • Progress made by the FBI in establishing new contacts with foreign anti-corruption agencies

Leadership and Partnerships

The Department’s efforts will be led by various components, including CIV, CRM, TAX, USAO, and the FBI. The comprehensive strategy is aimed at preventing financial crimes, prosecuting those responsible, and protecting the integrity of government contracting and programs.