White-collar fraud costs the United States significantly more than all forms of street crime
Annual losses from white-collar fraud in the United States reach up to $660 billion, a figure that vastly exceeds the total economic damage caused by all forms of street crime.
White-collar crimes such as embezzlement, insider trading, and money laundering cost the American economy between $300 billion and $660 billion every year, according to the Association of Certified Fraud Examiners. This financial toll dwarfs the impact of robberies, burglaries, and larcenies, yet these 'suite crimes' typically receive far less investigative priority than 'street crimes.'
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