insurance company anti money laundering
Have you recently opened a medical certificate and had too many charges on it? Do you charge for the tests you do not need? Or were the charges a medical office use that? You may have been a victim of white collar crime! It can happen to anyone!
White Collar Crime is a term which was defined by Edwin Sutherland, a sociologist of criminology. The term is the identification of illegal non-violent activities that involve traditional notions of lies, deceit, concealment, manipulation, breach of trust or illegal circumvention. These crimes have been known to be committed by professionals Business and government agents. Today we know that white-collar crime can be committed by anyone, from different backgrounds, whether it is race, sex, education or social status. White collar crimes are: the anti-trust violations, bankruptcy fraud, bribery / corruption, computer / internet fraud, forgery, the credit card fraud, embezzlement, violations of environmental law, financial crime, government fraud, fraud, health care, theft identity, insider trading, insurance fraud, wire fraud, money laundering, public corruption, qui tam, exchange rates, tax evasion, telemarketing fraud and theft of trade secrets. Although these are not violent crimes have a great effect on companies, consumers and the economy United States.
The increasing incidents of white-collar crime has also contributed to an increased cost to the nation. The cost of corporate crime to society is many times that of organized crime or street crime. The crime can cost businesses billions of dollars, but because of these losses are frequently spread across many unknown victims, usually not create the original purpose as an assault on a store that only cost a few hundred dollars. There are several types of white collar crime that increased economic hardship for ordinary citizens and consumers. These white-collar crime increase cost of doing business, which impacts consumers through increased prices and reduced services. According to the Federal Bureau of Investigation (FBI) these types of crimes will cost the United States over 300 million dollars annually.
Insurance Fraud, excluding medical fraud, representing nearly 40 million dollars annually. While premiums are increased due to fraud is costing the average family about $ 400 – $ 700 more a year for insurance. According to the National Care Health Anti-Fraud Association (NHCAA) estimates that approximately 3% or $ 68 million spending all health care fraud has been lost Health Care. The FBI estimates a loss of up to 10% for Health Care relating to fraud. Due to the aging of baby boomers Care Health fraud is only expected to rise due to the high insurance rates and medical bills. This increase in insurance fraud will also increase medical costs, because people also have to pay to replace the money lost in fraud cases that occur. Businesses and consumers are not only lose economically, people are losing their lives and savings, their health is compromised, the cost of everyday goods are higher, honest people are losing their jobs and honest businesses are losing money.
Bankruptcy and crime have the greatest competitive impact on the economy. The fraud committed by executives not only damages the holders of securities, but public confidence for businesses. Some types of fraud hurt the most vulnerable, target telemarketing fraud of the elderly, which are usually at home and sometimes with no one to help with those things. Telemarketing companies commit fraud are difficult to locate and process, because most companies are among the jurisdiction, so it is harder to be investigated by local authorities. The Government Accountability Office estimates that about 10% of all funds for national programs is lost through recruitment processes related to public corruption. Computer fraud through Internet is used to obtain personal information like credit card numbers, usernames, passwords or other information that can be used in activities crime. A 2004 study by the Federal Trade Commission showed that fourteen percent of consumer fraud is accomplished through the Internet or email.
Greed is one of the main reasons why people commit white collar crimes, they are trying to get rich working people. Today there are many agencies and organizations trying to combat white collar crime, such as the Federal Bureau of Investigation, National White Collar Crime Center, the Department of Justice, Federal Trade Commission, the Securities and Exchange Commission and others. They provide information for consumers on current cases of white collar crime and how to protect themselves from such crimes. Most of these agencies also have contact information in the white collar crimes can be reported.
About the Author:
Student, West Chester University
Article Source: ArticlesBase.com – White Collar Crime and Its Effects on Consumers
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