Contemporary Financial Crime

The concept of financial crime changes constantly as social contexts and technical aspects surrounding financial transactions advance. This paper aims at understanding contemporary financial crime with consideration on various factors associated with it. Firstly, financial crime is classified with definition, components, and typology. Secondly, related crime types, extent of financial crime, and its victim are suggested in a way that comprehends the scale of it. Lastly, to better capture the concept of financial crime in relational terms, its facilitating factors and relationships with other crimes are explained. This paper demonstrates that contemporary financial crime develops in a complicating manner as a reflection of its environmental changes.