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THE FBI vs. WHITE COLLAR CRIMINALS:
Protecting America against Schemes and Scams

10/04/03

FBI vs. White Collar Criminals graphicWant to know more about what the FBI is doing, big picture, to protect you and your family against fraud? Everything from corporate greedsters to financing and insurance con men? From criminal telemarketers to medical scams?

You may not realize that over one-third of FBI convictions and pre-trial diversions last year-over 6,000!-fell in the area of white collar crimes.

Here's a small thumbnail sketch of the final statistics from 2002 in just five of our different program areas, with links inside our site to find out more:

Corporate/Securities and Commodities Fraud which include corporate accounting fraud, high yield investment fraud, Internet investment fraud, Ponzi schemes, broker fraud, and market manipulation fraud.

  • In 2002, we opened over 50 corporate fraud cases in just 9 months-now we have 127 major cases under investigation, 16 of them with losses of over $1 billion and 40 cases with losses of over $100 million. If you count the smaller cases too, we have over 1,200 securities fraud cases under investigation.
  • This year we established a Corporate Fraud Hotline-please call it if you have information to report: 888-622-0117

Health Care Fraud, involving doctors, pharmacists, medical equipment companies.and hurting not just your pocketbook, but your health-and please remember that annual losses to the government and health insurers from these scams continue to exceed $100 billion.

  • Last year alone, we were actively investigating some 2,400 cases-we secured 551 convictions or pretrial diversions-and recovered/restituted/settled suits for some $1 billion.

Financial Institution Fraud, which includes loan fraud, mortgage fraud, identity theft, counterfeiting, and check/credit card fraud

  • Last year alone, we were actively investigating some 7,300 cases-we secured 2,397 convictions or pretrial diversions-and recovered/restituted some $2 billion.

Insurance Fraud, which either sells you insurance that doesn't actually exist.or diverts your legitimate premiums into someone else's pocket, to the tune of $67 billion lost last year in fraudulent claims.

  • Last year alone, we were actively investigating some 400 cases; secured 161 convictions or pretrial diversions; and recovered/restituted $55 million.

Telemarketing Fraud, which uses telephone solicitation to promise cash, cars, and prizes that never materialize.often preying on senior citizens and bilking them of their life savings.

  • Last year alone we were actively investigating some 351 cases; secured 119 convictions or pretrial diversions; and recovered/restituted $171 million.

What does the FBI advise if you think you're victim of a fraud? When in doubt, use the tip line! For corporate fraud, 888-622-0117. For Internet fraud, go to the Internet Fraud Complaint Center. For any other tip, go to tips.fbi.gov.