Economic Crime Research
Economic crime constitutes a high-volume offence with substantial threats, risks, and adverse consequences. Its effects include severe financial implications for individuals who may lose their life savings and for businesses that could face closure; both situations leading to immense emotional strain. In the year ending March 2023, The Crime Survey for England and Wales (CSEW) reported around 3.5 million fraud cases, yet, a significant number of these “hidden crime” offences go unreported. Despite the sizeable number of reported offences, the rate of successful prosecutions remains disproportionately low compared to other crime types. But one thing we know about fraudsters, however, is their ability to constantly adapt, finding new methods of committing their crimes. This includes using the latest technology to take advantage of any new opportunities that present themselves.
Perpetuity Research has extensive expertise in both quantitative and qualitative research approaches towards economic crime. Our work involves helping clients understand people’s behaviours, perceptions, and levels of awareness, as well as identifying important trends. Two of our staff members, Professor Martin Gill and Dr Janice Goldstraw-White, have between themselves interviewed well over 50 economic crime offenders in prison to discover their motivations and, importantly for fraud prevention, what would deter them from committing such crimes.
We have also been heavily involved in evaluating ‘what works’ (and what does not) in fraud prevention. Much of our research has practical applications in terms of informing decision-making and policy formulation. We recognise that generating a better understanding of the problem and highlighting weaknesses are crucial to identifying ways in which a response can be improved.
Perpetuity have conducted research for numerous organisations, in both the public and private sectors, relating to economic crime. These include areas such as:
- Motivation of fraudsters
- Staff dishonesty
- Management of fraud in local authorities
- Improving the police response to fraud victims (with the Police Foundation)
- Mandatory reporting of fraud by organisations
- What counter-fraud professionals need to understand about non-fungible tokens (NFTs) and fraud
- The economic climate and its effect on fraudster behaviour
- Bribery, fraud and corruption in the MENA region
- Psychology of insurance fraudsters
- Offences involving ATMs
Additionally, we have expertise in conducting victimisation studies and have assisted in evaluating the adequacy of the policing response to fraud victims.
If you would like to request a copy of any of our previous reports, check our news page or email us at firstname.lastname@example.org.
Thought Leadership and Economic Crime:
At Perpetuity, we recognise the value of Thought Leadership in addressing the problems associated with economic crime. Our experience in this area has shown us that:
- So-called ‘victimless’ crimes do not receive as much government attention as other crime types do.
- Many organisations struggle to establish a counter-fraud culture.
- There is a lack of board-level interest and engagement in fraud.
- Organisations can ‘ignore’ economic crime, which is detrimental in the long run.
- Many organisations do not understand how to optimise data usage for preventing and detecting fraud.
- There is a lack of effective partnership working to address the cross-jurisdictional realities of economic crime.
If any of these areas interest you, please do not hesitate to contact Dr Janice Goldstraw-White (email@example.com), our lead on economic crime research, so that we can explore how we might collaborate effectively.