Financial Crimes Rise 54% to Five-Year-High in The Bahamas Financial crimes reported to the Royal Bahamas Police Force

•  (RBPF) surged by 54% to 830 incidents in 2023, representing a five-year high.
• Data unveiled showed that total financial-related crimes beat the previous five-year high of 800 in 2019. Notably, incidents of forgery and possession of forged documents both doubled year-over-year (YoY) compared to 2022.
• YoY, reports of forgery to the RBPF increased by 100% from 15 to 30, while reports of forged document possession rose by 144% from 18 to 44. However, no explanations were provided for the increases.
• The only financial crime categories to report a YoY reduction in 2023 were the possession of forged banknotes and proceeds from crime. No complaints for bribery, falsification of accounts or uttering forged documents were reported.
• The most commonly reported offence, fraud by false pretences, increased by 97% from 204 the prior year to 401 accounting for close to half of all financial crime incidents. Stealing by reason of employment rose by 55% YoY, from 56 to 87 complaints, while stealing by way of service increased by 34% from 130 to 174 reported incidents.

(Source: The Tribune)