Financial frauds increased 20% in 2017 to 687 cases
2017 marked a significant increase in the criminal offense of financial fraud in Albania.
According to the data of the General Police Directory, compared with 2016, this criminal offense has increased by 20% in the year that was just closed.
According to the Police Directory, 687 cases of fraud were recorded in 2017, from 569 in 2016.
According to the Criminal Code, this criminal act includes pyramid schemes, market manipulation, insolvency fraud or falsification of official brands.
Cases of financial fraud have been steadily increasing in recent years.
According to prosecution data across the country, for the year 2016, a total of 1,350 cases of this criminal offense have been investigated, an increase of 33% compared to the previous year. There is also a growth in fraudulent sentences.
According to the prosecution, in 2016, 534 persons were convicted for this offense, an increase of 23% compared to the previous year, when the total number of convicts reached 433.
Most of the frauds occurred in Tirana, where 51% of cases were registered, while a large number of investigations were made in the cities of Durres, Elbasan Vlora and Shkodra.