Analysis of Credit CardFinancial Fraud Trends and Sentencing in the U.S. 2019 2023

UNITED STATES SENTENCING COMMISSION

GUIDELINES RESEARCH REPORT

POLICYMAKING EDUCATION

Summary

In fiscal year 2023, out of the 64,124 cases reported to the United States Sentencing Commission USSC, approximately 4,855 cases involved theft, property destruction and fraud activities. Credit card and financial instrument fraud constituted 15.2 of these incidents, a significant decrease of 37.3 compared to fiscal year 2019.

This publication provides an in-depth analysis on the characteristics and punishment patterns associated with individuals convicted of credit card and other financial instrument fraud offenses between FY 2019 and FY 2023.

Individual Characteristics

• Ger: Overwhelmingly, 76.1 of individuals prosecuted for this offense were male.

• Racial Background: The demographic breakdown was as follows: Black individuals represented 48.2, Whites made up 29.8, Hispanics accounted for 15.5, and Others constituted 6.5.

• Age: These fraudsters had an average age of 38 years.

• Citizenship Status: Approximately 79.9 were U.S. citizens, while the remning portion held other citizenship statuses.

• Prior Criminal History: The majority 49.7 had little or no prior criminal history and were categorized as having a Criminal History Category I.

Offense Characteristics

• Fraud Value: The median loss for these offenses was $116,545.

• Involvement Scale: 17.4 of the cases involved losses below $15,000 whereas 10.5 had losses exceeding $550,000.

• Punishment Intensity: The average sentence imposed was a prison term of 27 months.

Sentencing Decisions

• Offer Sentence Distribution:

  • Sentences were increased in cases involving but not limited to: number of victims or extent of victim harm 49.7, use of sophisticated execution methods 20.7, unauthorized identification usage 40.1, leadership roles in the offense 12.5, abuse of public trust or employment with special skills 4.9 and obstruction of justice efforts 3.4.

  • Sentences were decreased for minor participation 4.5.

• Sentencing Composition:

  56.5 of individuals received sentences under Manual, out of which:

  • 64.9 were sentenced within the guideline range.

  • 29.3 benefited from substantial assistance departures with an average sentence reduction of 64.2.

  • Another 5.3 received other downward departures with an average reduction of 42.9.

• Variance Application:

  Out of the same group:

  • 43.5 were granted variances, among which:

    • 95.6 received a downward variance amounting to an average sentence decrease of 49.5

    • 4.4 experienced an upward variance with an average sentence increase of 61.0

The analysis indicates that while there is no substantial change in the demographic or criminal history profiles of those prosecuted for credit card and financial instrument fraud, there might be a slight decrease in severity when it comes to sentencing over the past four years.

These insights provide critical data points for lawmakers, policymakers, legal professionals and other stakeholders interested in understanding trs in fraudulent activities involving financial instruments over this period. The comprehensive data, broken down into individual characteristics and offense-specific detls, offers a nuanced perspective on how these crimes are prosecuted within the American judicial system.

This report is made avlable to ensure transparency and facilitate informed decisions regarding guidelines for sentencing and policy adjustments when necessary.

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Contact Information

For any inquiries or to seek clarification on specific points of this report:

• Eml: [email protected]

• Phone: 202 502-4500

• Address:

  • Office of Public Affrs

  • United States Sentencing Commission

  • Suite 2-500, South Lobby

  • One Columbus Circle, NE

  • Washington, DC, 20002-8002

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: The information contned herein serves as a guide; professional legal consultation is advised for definitive application of guidelines.

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