Washington, D.C. – Federal prosecutions for white-collar crimes have continued their decades-long decline, with the latest government records showing a more than 10% drop from Fiscal Year (FY) 2024 to FY 2025. As of March 31, 2025, the total number of white-collar prosecutions stands at just 3,862 — down from 4,332 in FY 2024 and significantly below the peak of 10,269 recorded in FY 1994.
This continued decline in enforcement raises serious concerns about the federal government’s commitment to tackling corporate and financial misconduct, especially as the FBI — the lead investigative agency for many white-collar crimes — faces both funding cuts and redirection of agent duties.
Recent internal directives and media reports indicate that white-collar cases are being deprioritised through the end of 2025. FBI field offices have reportedly instructed agents to shift approximately one-third of their time toward supporting the Trump administration’s intensified crackdown on illegal immigration. As a result, the already reduced emphasis on financial and corporate crime investigations is expected to wane even further.
Prosecution rates for white-collar crimes have now dropped to some of the lowest levels in decades. According to Department of Justice (DOJ) data, white-collar criminal referrals are prosecuted at lower rates than nearly all other categories — a stark contrast to the surge in immigration-related prosecutions, which continue to dominate the federal docket.
White-collar crime, as defined by the DOJ, includes a broad range of nonviolent offences involving deceit or fraud. These encompass corporate and consumer fraud, bankruptcy fraud, financial institution fraud, federal program fraud, health care fraud, tax fraud, identity theft, securities fraud, and antitrust violations. Despite the significant economic and social impacts of these crimes, enforcement remains overwhelmingly targeted at individuals, with only 1% of cases filed against businesses or corporations over the past four decades.
Historically, federal attention to white-collar crime has fluctuated across administrations, without strict adherence to party lines. The highest levels of enforcement occurred under President Clinton in the 1990s and again during the Obama administration.
The six most prosecuted categories of white-collar crime since 1986 include financial institution fraud (the most common), followed by tax fraud, fraud involving federal programs, business-related fraud, health care fraud, and identity theft.
Critics argue that deprioritizing white-collar crime enforcement not only undermines accountability in the financial system but also sends a dangerous message about the consequences of corporate misconduct. With federal resources increasingly diverted elsewhere, many experts fear that the complex and often invisible harms of white-collar crime will continue to go unpunished.