Nasdaq CEO Highlights Fraud's Negative Impact on U.S. Economic Growth
Thursday, 12 September 2024, 08:42
Fraud and Its Economic Consequences
According to the Nasdaq CEO, if financial crime were treated as a sector, it would rival the lodging and food services sector, accounting for 3.1% of the national GDP in 2023.
The Rising Threat of Financial Crime
Fraudulent activities, including money laundering, detract from overall economic growth. This underlines a pressing issue for policymakers and businesses alike.
- Fraud hurts growth
- Mitigation strategies essential
Addressing Fraud to Boost Growth
To enhance U.S. economic performance, a collective effort is necessary to tackle the adverse effects of financial crime.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.