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NCJRS Abstract

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NCJ Number: 97937 Find in a Library
Title: Statement of D Lowell Jensen (Associate Attorney General) Before the House Subcommittee on Civil and Constitutional Rights Concerning Economic Crime Index/NCIC on April 25, 1985
Author(s): D L Jensen
Corporate Author: US Dept of Justice
United States of America
Date Published: 1985
Page Count: 9
Sponsoring Agency: National Institute of Justice/
Rockville, MD 20849
NCJRS Photocopy Services
Rockville, MD 20849-6000
US Dept of Justice
Washington, DC 20531
Sale Source: National Institute of Justice/
NCJRS paper reproduction
Box 6000, Dept F
Rockville, MD 20849
United States of America

NCJRS Photocopy Services
Box 6000
Rockville, MD 20849-6000
United States of America
Document: PDF
Language: English
Country: United States of America
Annotation: This statement clarifies the Department of Justice's position on various aspects of economic crime and discusses the proposed Economic Crime Index.
Abstract: White-collar crime affects innocent people who frequently can ill afford to bear the loss and whose lives are sometimes affected very tragically and very directly. Among the victims are 100 elderly citizens in Florida who lost their life savings on a retirement village real estate scam; half became destitute. Even when viewed in more abstract terms, the direct loss caused by white-collar crime is staggering. In 1982, for example, the accounting firm of Peat, Marwick, and Mitchell estimated the loss at $200 billion. Thus, white-collar crime siphons billions of dollars a year from America's economy, adds to the costs of goods and services, and subtracts from the revenues available to Federal and State treasuries. White-collar crime is extraordinarily difficult to investigate successfully. Since it frequently succeeds by deception, coverup, and record manipulation, its victims may be unaware that a crime has been committed until long after the event. A principal investigative shortcoming is the lack of an efficient means of exchanging information about white-collar criminals whose crimes affect victims in several jurisdictions. The Economic Crime Council of the Department of Justice recommends the development of the Index as a way of upgrading law enforcement coordination. Such a system would materially assist in the effectiveness of Federal and State efforts against white-collar crime.
Index Term(s): Index crimes; Law enforcement; US Department of Justice; White collar crime
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