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Abstract

Economic crime is a growing complex issue affecting the UK’s economy, businesses, reputation, and population. To combat this issue, the government has created a strategy to decrease UK fraud. This paper aims to assess whether the financial regulations in the UK are effective at stopping economic crime. To achieve this aim, the paper discussed the background of economic crime and the history of preventing it. In addition, financial experts were asked their opinion on the government’s fraud strategy by answering a survey. The findings show that the government needs to do more to label the strategy a success due to the overwhelming negativity from the replies to the survey. However, the replies to the survey do not align with the government’s comments on the success of the strategy, so only time will tell whether the strategy for stopping fraud can be deemed successful. It was concluded that while the financial regulations effectively stop economic crime, the crime itself will constantly evolve and grow, and it is almost impossible to stop. Nevertheless, there are ways economic crime can be stopped and prevented, one of which is the population's education. If the population is knowledgeable about the risk of economic crime, there is less chance that they will be a victim.

Course: Criminology and Cybercrime - BSc - U2714PYC

Date Deposited: 2024-11-21

URI/permalink: https://library.port.ac.uk/dissert/dis14576.html