According to The Ascent, a service by Motley Fool, more than 3.2 million fraud cases were reported to the Federal Trade Commission (FTC) in 2019—and that’s just the United States. And credit card fraud in particular increased more than 72% from 2018 to 2019.
In 2020, the COVID-19 pandemic and stimulus checks became a big source for fraudsters. The Ascent estimates that Americans have lost more than $450 million to COVID-related scams and fraud.
At Crime Stoppers Global Solutions (CSGS), we strive to help law enforcement officials worldwide stop these criminals who are using illegal means to obtain money or other assets held by a financial institution.
Money laundering is an $800 billion USD operation globally—every year.
At its core, money laundering is concealing of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses, to give the appearance that the money has come from a legitimate source.
Criminals use a variety of techniques to launder money, and online banking and cryptocurrency has made it a whole lot easier to transfer and withdraw money without being detected.
According to the United Nations Office on Drugs and Crime (UNODC), the estimated amount of money laundered globally in one year ranges from $800 billion to $2 trillion—some 2% to 5% of global GDP.
Money laundering is a serious crime, and at CSGS, we’re doing our part to encourage citizens to provide anonymous tips so that law enforcement can stop these criminals.
Frequently Asked Questions
Bank fraud is illegal deception to steal money or financial data. Money laundering hides the origin of illegal funds, making them appear legal. Both fuel crime and harm economies.
CSGS supports law enforcement by sharing intelligence, tracking criminal networks, and coordinating investigations to uncover fraud schemes and stop money laundering activities internationally.
Yes. You can submit an anonymous tip through the CSGS website. Your identity stays private while your information helps authorities investigate and prevent financial crime.
Fraud and money laundering cross borders. CSGS works with international partners to share data and coordinate action, making it easier to follow money and catch criminals worldwide.
Donations fund tools, investigations, training, and partnerships that strengthen the ability to detect, investigate, and prevent financial crimes affecting individuals and institutions.
