U.S. sees drop in white collar crime cases
Residents in New York might feel that they hear a lot about white collar crime cases, especially those involving some very high-profile people. This may well be due in part to the fact that New York City is the financial heart of the country. However, despite a seemingly excessive amount of media attention on these types of cases lately, recent statistics show that the number of such cases being prosecuted has dropped dramatically in recent years.
According to Bloomberg, a study conducted by the Transactional Records Access Clearinghouse found that the 3,249 white collar cases pursued between October 2017 and April 2018 represents a decline of more than 33 percent compared to five years ago. Going back to 1998, the current number represents a drop of almost 41 percent. Even when comparing to just one year ago, a reduction by more than four percent is seen.
A report in Washington Post provided a look into these types of cases going back to 1986 when they were first tracked. The current caseload is the lowest ever. The year with the highest number of active cases was 2011. Cases prosecuted by the U.S. Department of Justice due to referrals from the Internal Revenue Service have also dropped significantly.
There may be many factors contributing to this change. One of these factors is potentially the reduction in staff at the IRS, resulting in fewer people to manage or track potential criminal activity. Another theory as to why the nation is experiencing a drop in white collar criminal cases is the increased focus on immigration prosecutions over other types of cases.