Financial Crimes
This general term describes illegal acts committed to obtain money or property through deception.
What is financial crime?
This term commonly describes nonviolent crimes committed for financial gain in business or professional settings.
What is white-collar crime?
This crime occurs when someone unlawfully uses another person's identifying information, usually for fraud.
What is identity theft?
Fraudulent emails or messages designed to steal passwords and financial information are known as this.
What is phishing?
Strong unique passwords, software updates, and multi-factor authentication are examples of these protective measures.
What are cybersecurity safeguards?
Knowingly using deception to obtain money, property, or services is this crime.
What is fraud?
When a person entrusted with money wrongfully takes or uses it, this crime may have occurred.
What is embezzlement?
A credit freeze mainly prevents criminals from doing this in a victim's name.
What is opening new credit accounts?
Malicious software that locks or encrypts data and demands payment is called this.
What is ransomware?
Employees should be taught to recognize phishing and report suspicious activity through this organizational practice.
What is security awareness training?
Concealing the illegal source of money by moving it through legitimate transactions is called this.
What is money laundering?
Offering something of value to improperly influence an official or business decision is this offense.
What is bribery?
Consumers should review these documents for unfamiliar accounts, addresses, or inquiries.
What are credit reports?
Gaining unauthorized access to a computer system or network is commonly called this.
What is hacking?
These government bodies investigate and prosecute many federal financial and cybercrimes.
What are federal law-enforcement agencies, such as the FBI and Department of Justice?
Using information not available to the public to trade securities may constitute this offense.
What is insider trading?
A scheme that pays earlier investors with money from newer investors instead of legitimate profits is called this.
What is a Ponzi scheme?
A fraud alert tells potential creditors to take this extra step before extending credit.
What is verifying the applicant's identity?
This security method requires a password plus another proof, such as a code or biometric.
What is multi-factor authentication?
Restitution requires a convicted offender to do this for the victim.
What is repay the victim for financial losses?
Intentionally hiding income or falsifying returns to avoid taxes is this federal crime.
What is tax evasion?
An agreement between competitors to fix prices or rig bids may violate these federal laws promoting competition.
What are antitrust laws?
This federal law gives identity-theft victims rights and helps combat consumer fraud involving credit information.
What is the Fair Credit Reporting Act (FCRA)?
An attack that overwhelms a website or network with traffic so legitimate users cannot access it is this.
What is a denial-of-service attack?
Fines, imprisonment, probation, restitution, and forfeiture are examples of these consequences for financial crimes.
What are criminal penalties?