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Financial Crime PDF Print Email

The term economic crime can refer to any non-violent crime that causes economic loss, even if those losses at times is not apparent or perceived. Taking into account the fact that the rapid technological development and the growth of the Internet offers new opportunities to commit such crimes, any list of economic and financial nature of crime can not be considered complete or exclusive. The crimes of this category such as fraud, embezzlement, tax evasion, money laundering, corruption and bribery (corruption) are not easily detectable and often not recorded because of the serious economic effects. This assumption explains the inability to determine or estimate the total area and the threat of these phenomena that threaten both the private and public sectors

However, at international level a series of attempts recorded sensitize individuals and businesses in financial crimes, especially in dealing with fraud. Global survey of audit firm PriceWarehouseCoopers (Global Economic Survey) revealed that despite the efforts of the regulators and investment firms in monitoring mechanisms, fraud remains one of the most serious economic problems worldwide. Based on the survey results show that the actual extent of economic crime and associated with this economic and non-economic damages remains undefined and without visible signs of retreat. In some countries nearly one in two businesses have been victims of economic crime. In identifying and addressing financial crimes end, businesses need beyond their internal controls, to build a surveillance system and a relationship of trust with their employees, providing incentives for good behavior and compliance and determine sanctions for potential perpetrators regardless of their position.

The law firm "SKG LAWYERS" offers  specialized services in the field of economic crime to both audit and advisory level and at the level of litigation and advocacy.