These crimes undermine the financial health and reputation of our country. They are far from victimless. Ultimately, we are all  BIS Review 87/2005  1  victims of these crimes, as they erode confidence in the financial system. And it takes a long time and a lot of effort and investment to re-establish public confidence once it is lost.
That's why we have to view economic crime as every bit as serious as certain crimes of violence. It is true that fraud is less physically dangerous than an armed robbery. But its social damage is every bit as severe. Both types of crime undermine the trust that people have in their society.