ABSTRACT
Collusion and insider trading, being white-collar crimes, are often characterised as victimless crimes. However, contrary to what the name suggests, such victimless crimes impose large costs on individuals and the economy. They are only victimless to the extent that those harmed by crimes such as collusion and insider trading are often unaware that they have been victimised. The absence of identifiable victims makes the detection of collusion and insider trading much more difficult. As the Australian Competition and Consumer Commission (ACCC) has stated: ‘Collusion is extremely harmful to both businesses customers and consumers. The gains can be large and difficult to detect. The incentives for collusion are high in important areas of the modern economy’ (ACCC 2002a, p. 8).
