What is Economic Crime?
Definitions, types and prevention strategies.
Updated on June 10, 2025 • Reading time approx. min
Economic crime refers to illegal acts committed in the context of economic activity, causing financial harm. It affects companies, authorities and society as a whole.
Table of Contents
- Definition of Economic Crime
- Common Types
- Prevention Strategies and Protective Measures
- Consequences for Companies and Society
Definition of Economic Crime
Economic crime includes offences such as fraud, embezzlement, corruption, money laundering, insider trading or accounting manipulation committed in the economic sphere.
Common Types
Typical types of economic crime include:
- Accounting fraud and manipulation of financial statements
- Procurement fraud
- Corruption (bribery, acceptance of bribes)
- Money laundering
- Insider trading
- Embezzlement and misappropriation
Prevention Strategies and Protective Measures
Effective prevention includes:
- Implementing a robust compliance management system
- Promoting a corporate culture of integrity
- Risk-based internal control systems (ICS)
- Training and awareness-raising for employees
- Establishing whistleblowing systems
Consequences for Companies and Society
The consequences of economic crime can be severe:
- High financial losses
- Loss of reputation and trust
- Legal sanctions and liability risks
- Market distortions and competitive disadvantages
- Macroeconomic impact