Scams and Financial Crimes Will Be Among the Few Certainties in 2023


There aren’t many things that can be predicted for the year 2023, but financial fraud and crimes are among them.

Numerous news stories and magnificent heists over the past year have shown how inventive criminals have gotten. They have honed their con games and plots to steal money from unsuspecting victims, including people, families, and corporations.

Everything that has sprung from the epidemic is quicker and more digital, notably payments. 

The Department of Justice (DOJ) is currently looking into a crypto breach of FTX on November 11 that netted $372 million shortly after the company filed for Chapter 11 bankruptcy. Such crimes are just among the “splashiest” of crimes.

Full Scope Is Not Known Yet

The financial impact of 2022 won’t be fully known to us for some time, and the Christmas season, as always, is a prime time for fraud. The U.K.’s Financial Conduct Authority (FCA) claimed it has given over 1,800 warnings about possible scam businesses so far in 2022, 400 more than the previous year, as a hint to how widespread financial crime has grown as we approach the close of the year.

It should come as no surprise that demographics and technological usage affect who is targeted. Younger customers are more at danger, as are those who use gadgets to do a variety of daily financial duties.