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What is the true cost of economic crime?
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Estimating the cost of economic crime has always proved challenging, not least because of various definitions adopted and offences included. Whereas some reports claim that accurate methods of measuring losses have been developed in the last decade, is this really the case? Not only are many of these estimates, but they rarely include the ‘hidden’ costs of fraud, such as the personal costs to victims, time spent investigating and rectifying issues, and the reputational damage to businesses. Therefore, what are the true costs of economic crimes to individuals, businesses and governments and what should we be doing cut these costs?
The purpose of this webinar is to discuss:
The ways in which we calculate the cost of economic crime.
Whether there are any areas missing, and if so, how we should value these.
What key issues should we be looking at to reduce the overall cost of economic crime?
Chair: Dr. Janice Goldstraw-White
Panellists:
Dr Russell Smith – Former Principal Criminologist, Australian Institute of Criminology
Claire Jenkins – Forensic Accountant, Companies House
Adam Carter – Senior Project Officer, National Trading Standards Scams Team
A video and summary of this session is available here: https://www.theospas.com/2022/06/01/what-is-the-true-cost-of-economic-crime/
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