The Impact of Financial
Crime
The impact of a financial
crime may have serious
and long-term consequences.
Individuals who experience
financial crimes report
feeling isolated, hopeless,
and betrayed, but there
is help. The FBI realizes
that you will most likely
have questions about how
your case will be handled
and what services and
information will be available
to you.
How Will I Obtain Information?
Federal crime victims
have a number of rights
during their participation
in the criminal justice
system, including the
right to limited information
about the status of the
case. You may either receive
periodic updates through
our Victim Notification
System or you may contact
the case agent or agency’s
Victim Specialists on
an ongoing basis.
It is very important
that you report any address
changes you have during
the criminal investigation,
prosecution, and incarceration
of the defendant.
The Investigation
Although the months or
years ahead may be difficult
for you and your family,
cooperation is important
to ensure that justice
is fully achieved. The
investigation of a possible
financial crime can be
lengthy and complex and
often involves several
law enforcement agencies.
Some investigations may
involve hundreds of victims
in one case. During this
process, you case agent
or Victim Specialist will
remain your principle
contact. If you learn
of or remember anything
additional about the crime,
contact the case agent.
Due to the sensitive nature
of an ongoing federal
investigation, information
available to you will
be limited. For information
on your rights during
the investigation, please
refer to the FBI Help
for Victims of Crime brochure.
What Can I Do About My
Financial Losses?
Collect and save all
documents and electronic
transmissions that directly
relate to your loss, including
expenses incurred during
your participation in
the investigation or prosecution.
If an arrest is made and
a conviction is obtained,
the judge may require
the offender to pay restitution.
This means the sentencing
judge may order a convicted
defendant to pay identified
victims for certain losses
suffered as a result of
the crime. You may be
asked to provide verification
of your loss amount.
In addition, some losses
may be tax-deductible.
Tax laws are complicated,
so consult a qualified
tax advisor or the Internal
Revenue Service to see
if your losses qualify.
Finally, if you believe
the fraud perpetrator
had assets, you may be
able to recover losses
through a civil lawsuit.
Contact your state or
local bar association
for the names of attorneys
who specialize in this
area of law to determine
if your case is appropriate
for civil action. Remedies
may include, but are not
limited to, compensation
provided from reparations
funds and forfeiture.
Also, if small amounts
of money are involved
(the amount depends on
local law), you may be
able to bring a claim
in small claims court
in the county in which
the crime occurred.
Will I Get My Money Back?
Victims often want to
know if they will get
their money back through
restitution. Many federal
crimes require payment
of restitution; however,
the reality is that convicted
defendants with no money
or limited potential to
make money may be unlikely
to ever make meaningful
restitution, particularly
in financial crime cases
with many victims.
Restitution may also
be awarded to the victim’s
estate in the event of
the victim’s death.
Be assured that the federal
government will work earnestly
to ensure that any assets
owned by a sentenced defendant
can be considered for
payment of court-ordered
restitution. An order
of restitution is enforceable
for 20 years from the
date a criminal judgment
requiring restitution
is filed or for 20 years
after the convicted defendant’s
release from prison.
To ensure the proper
receipt of any ordered
restitution, it is especially
important that you notify
your Victim Assistance
Program or the Victim
Notification System of
any changes in contact
information.
What Can I Do To Address
Financial and Credit Problems?
Some victims have losses
so severe that they are
unable to meet current
financial obligations.
If personal information
was stolen, credit may
be affected which can
impact your immediate
financial situation. In
both of these situations,
consider these options:
Contact creditors and/or
a nonprofit credit counseling
service to help you to
reduce or modify your
payments or help you to
limit access to your accounts.
Submit a written statement
to local and national
credit reporting agencies
about your victimization.
Provide supporting documentation
such as a copy of the
criminal judgment.
Be alert. Many fraud
artists contact victims
claiming they can help
recover your losses for
a fee or may sell your
name to others committing
financial scams. If called,
contact the case agent
or your state’s
Consumer Protection Agency
to verify the company’s
legitimacy.
Many victims feel anger,
resentment, frustration,
shame, embarrassment,
and guilt, as well as
fear for financial security
and personal safety. Some
victims find it helpful
to seek services from
a counselor, clergy member,
or advocacy program. Contact
your Victim Specialist
for resources in your
area.
Weblinks & Phone
Numbers
FTC, Federal Trade Commission:
a noninvestigative agency,
the FTC collects information
about ongoing scams to
share with law enforcement.
FTC Consumer Response
Center | 1-877-382-4357
| www.ftc.gov
FTC Identity Theft Hotline
| 1-877-438-4338 | www.consumer.gov/idtheft
FTC Do Not Call Registry
| 1-800-275-8777 | www.donotcall.gov
National Credit Reporting
Agencies
Equifax | 1-800-525-6285 | www.equifax.com
Experian | 1-888-397-3742 | www.experian.com
Trans Union | 1-800-680-7289 | www.transunion.com
Internet Fraud: To report
Internet fraud, file a
complaint, or read the
latest warnings at the
ICCC.
Internet Crime Complaint
Center | www.ic3.gov
U.S. Postal Inspection
Service: To report ID
Theft that involves the
U.S. mail. | 1-800-275-8777
Securities Exchange Commission
(SEC) | 1-800-732-0330
| www.sec.gov
National Foundation for
Consumer Credit: Prevent
victimization by private
consumer credit agencies.
| 1-800-388-2227 | www.nfcc.org
National Consumer’s
League National Fraud
Information Center | 1-800-876-7060
| www.fraud.org
U.S. Department of Health
and Human Services, Administration
on Aging: For information
on services for elders
in your location | 1-800-677-1116
| www.eldercare.gov/Eldercare/Public/Home.asp
Social Security Administration
Fraud Hotline: To report
theft or fraudulent use
of your SSN. | 1-800-269-0271
| www.ssa.gov
Direct Marketing Association
DMA opt out service stops
preapproved credit card
offers: To remove your
name from mail, phone,
or e-mail lists. | 1-888-567-8688
| www.the-dma.org
National Association
of Attorneys General:
For information on your
state’s Attorney
General’s Office
and consumer protection
services. | 1-202-326-6000
| www.naag.org
National Crime Victim
Bar Association: For information
regarding filing civil
lawsuits against a perpetrator
or other responsible party
and help locating attorneys
specializing in victim-related
litigation. | 1-202-467-8753
| www.victimbar.org
Office for Victim Assistance
|