Torsten Bell is chief executive of the Resolution Foundation. When it comes to tackling tackling fraud, perhaps deterrence is our best form of attack. According to the results of the Google Safe Browsing check, the developer's site is safe. This tool was originally developed by Noldus Information Technology bv.

We cannot confirm if there is a free download of this software available. And they have a wider deterrent effect: prison sentences reduce the probability that a fraudster’s colleagues will commit financial crimes. Download of The Observer XT 12.5 was on the developer's website when we last checked. They reduce reoffending by nearly 50% in the three years after sentencing – a big deal given that reoffending rates are high.

The shows that prison sentences for financial crimes work. We call financial crime white-collar crime for a reason. One reason could be that people committing these crimes tend to be more privileged than your average criminal – they’re richer, older and better educated. Only 11% of defendants are imprisoned, half or a third of the rates for non-violent drug or property crime respectively. The authors note that culprits of financial crimes are less likely to go to prison compared with other non-violent crimes (despite the fact that fraud costs about 1.5% of GDP). This reflects the fact that bringing charges and getting convictions is hard, with complex cases often crossing borders.Īre many countries too soft when it comes to sentencing in such cases? Fascinating new research, drawing on the case of Finland, concludes yes. The government, which recently launched a new fraud strategy, says that for every 1,000 frauds there is one successful prosecution.

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