ABSTRACT
This chapter develops main categories and subcategories of financial crime. The four main categories are labelled fraud, theft, manipulation and corruption respectively. The chapter is based on exploratory research to stimulate future research in refining and improving the categories suggested here and illustrated. Fraud is unlawful and intentional making of a misrepresentation, which causes actual prejudice or which is potentially prejudicial to another. Art theft is art crime involving theft by burglary, robbery, deception and might involve money laundering. Corruption covers a wide range of illegal activity such as kickbacks, embezzlement and extortion. Kayrak includes money laundering as well in his definition of corruption. The notion of corruption may be classified as sporadic or systemic corruption, bureaucratic or political corruption, grand or petty corruption, and active and passive corruption. The crime of corruption tends to be unique, and gains and losses involved can be substantial. The proceeds of corruption, if traceable are often in another jurisdiction thereby complicating recovery.
