Awareness of Financial Crime on Curacao

Topics: Economics, Bank, Financial services Pages: 19 (4564 words) Published: March 28, 2013
Table of Contents

Table of Contents2
Table of Figures3
Purpose of Study4
Overview of report5
Literature Review7
Research and Sub Questions8
Research Objectives9
A. Descriptive Statistics: The responses to our questionnaire15 B. Inferential Statistics18

Table of Figures

Table 1:Gender15
Table 2: Working full-time/ part-time15
Table 3: Types financial crime16
Table 5: Knowledge of financial crime16
Table 4: Consideration financial crime16
Table 6: Experience financial crime17
Table 7: Frecuency experience17
Table 8: Type of experience18
Table 9: Protection financial crime18
Table 10A: Significance relationship between working and knowing someone who experienced financial crime19 Table 11: Relationship gender and experience financial crime19 Table 12: Significance relationship gender and financial crime19 Table 13: Relationship working and experience financial crime20 Table 14: Significance relationship working and experiencing financial crime20


Financial crime is becoming something that affects all of us it makes for an increase in prices and taxes. The prices of insurance rise to cover the cost of frauds. Taxes rise because there is so much income understated which makes that the government does not get enough income. This all has influence on those innocent. Financial crime has become the future of the crook. Instead of break-ins or theft they steal of, of your bank accounts.

The time has come for more and more people to be aware of these crimes. It happens all around us. Most of the time we are not aware of the crimes around us, nor how they are committed. Knowing how others are robbed/ embezzled makes that we can protect our own. By knowing the problem or cause, you can protect yourself from it. You cannot protect yourself from the unknown.

According to the financial service authority of the United Kingdom financial crime is:

“in accordance with section 6(3) of the Act) any kind of criminal conduct relating to money or to financial services or markets, including any offence involving:

(a) fraud or dishonesty; or
(b) misconduct in, or misuse of information relating to, a financial market; or (c) handling the proceeds of crime;

in this definition, "offence" includes an act or omission which would be an offence” (FSA)

Purpose of Study

The aim of this research is to find out what and how much the population of Curaçao knows about financial crime. After determining how much the awareness is among the population is, we can than determine, if the population is sufficiently informed or not. With the information we can now decide if there should be more education on financial crime.


Un-awareness of financial crime can cause for easy targets. This is something all countries want to avoid. Financial crime has a lot of influence on the economy of a country. So by researching the awareness of financial crime on Curaçao we can now determine if they are aware or not. Steps can be taken to inform the population of these crimes to protect them. They say knowledge is power. In this case with knowledge you can protect yourself.

Overview of report

With this research we are hoping to get sufficient information to know whether the population is well-informed or not. When we achieve this we will then have to take a decision on putting lectures about financial crime or just put it as a subject at school.

It is worth doing this research because in the future there will be more technology. And by this we mean more ways to commit financial crime (e.g. online banking or e-commerce). If we are well-informed and keep updating on financial crime we...
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