FBI Eases Up on White Collar Crime
The Federal Bureau of Investigation (FBI) used to be the go-to federal law enforcement agency for cracking down on white-collar crime. But both recent and historical data reveals that the FBI is pursuing far fewer of these cases.
The Transactional Records Access Clearinghouse (TRAC), a nonpartisan government watchdog located at Syracuse University, found that FBI white-collar crime cases recommended for prosecution are down significantly so far this year, based on government records obtained from the U.S. Department of Justice.
If the FBI maintains its pace for the remainder of 2013, the bureau’s total will be down nearly 7% from the previous year, TRAC concluded.
More importantly, the rate that the FBI pursues white-collar crimes could be down as much as 45% compared to totals from 2003—and nearly 59% from 1993.
TRAC attributed the decline to the FBI’s decision following the September 11, 2001, attacks to devote more resources and manpower to combating international and domestic terrorism and weapons of mass destruction.
To date, the FBI has sent 2,001 white-collar cases to the Justice Department for prosecution this year. The vast majority of these investigations have dealt with fraud, particularly those involving financial institutions, mortgages and health care.
To Learn More:
Slump in FBI White Collar Crime Prosecutions (Transactional Records Access Clearinghouse)
Justice Dept. Mistakes Slapping Wall Street Wrists for True Punishment for Fraud (by Matt Bewig, AllGov)
Justice Dept. Defends Not Prosecuting Corporate Leaders for White-Collar Crime (by Noel Brinkerhoff and David Wallechinsky, AllGov)
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