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Which developed country is the best place to commit financial crimes ?

 
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I vote for USA because no one really got punished for the 2008 financial crisis. The government let off the big banks leniently and only aggressively prosecuted the "Abacus Federal Savings Bank". Abacus was rightfully acquitted, but they lost a lot of time and several million dollars in fighting their case. Some of their low level employees (majority of who are of Chinese origin) were paraded in handcuffs, in front of the media. This is not a common practice and would never happen to employees of rich and powerful organizations.

Is there any other country which is better for financial criminals ? Please give examples.
 
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Where are you planning your career of fraud? You would do well here; the police don't have the resources to chase fraudsters. Of course, you don't go somewhere and commit fraud there. You commit it in a distant country.
 
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You don't even need to be in a country to commit fraud there. From the comfort of your own home you can go online and defraud people all over the world.
 
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Especially if your country does not classify that particular theft as illegal. In fact you may be able to land yourself a very respectable and well paid job at a government funded company to hack into and steal digital assets from other countries. You have to wear a suit to work and everything!

Crazy times we live in. Actually I guess it's always been like this, just the tools have changed.
 
Campbell Ritchie
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Tim Cooke wrote:. . . if your country does not classify that . . . as illegal. . .  a very . . . well paid job at a government funded company . . .

Good grief, Tim! Do such places exist?
 
Tim Cooke
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For a long time China, for example, measure their place in the World by economic success which includes car production. I can't find a reference right now but I remember reading about a case where a government funded company were tasked with hacking into competitor systems to steal blueprints to fast track their own development. The particular case I'm thinking of was a hack into Rolls Royce to steal some air conditioning blueprints or something like that.

It's definitely a thing.
 
Eran Morad
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I should have clarified - multi-million dollar financial crimes like the financial crisis of 2008. Not the "nigerian prince needs money", "social security", "IRS" type of scams.
 
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Actually, all the best financial criminals splatter their crimes all over the world. Why limit yourself to just developed nations, for that matter? Screw over everybody.

There's nothing like weaving a web of money through multi-national bank accounts to ensure you get away with the financial equivalent of murder.

And, of course, the best financial crimes are the legal ones. No-bid government contracts for products you've never dealt with in your life (such as the electric grid rebuilding of Puerto Rico or the recent one to sell N-95 maks to FEMA). Pyramid schemes salted with just enough respectability to avoid prosecution, Insider trading.

It's all about knowing the right people to enable you and picking who to do it to.
 
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Eran Morad wrote:I should have clarified - multi-million dollar financial crimes like the financial crisis of 2008.


So i'm not sure i've ever heard what actual crimes were committed.  I'm not saying there weren't any, I just don't know what they were.  Can you cite a statute or law that was allegedly broken?
 
Campbell Ritchie
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The only actual law they broke was, “Thou shalt not get found out.” And that was only some of them.
Lots of unwise attitudes, believing it will all turn out all right, believing things will continue to go on as they have for the preceding fifteen years, etc. But, as Fred says, those aren't statutes. Only a few people broke real laws.
 
Tim Holloway
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Campbell Ritchie wrote: Only a few people broke real laws.

Mostly because the people who do this kind of stuff pay the lawmakers to make it so that the laws work in their favor.  
 
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