In 2016, The Oxford Handbook of White-Collar Crime estimated that victims of white-collar offenses in the U.S. lose $1.6 trillion per year to these crimes, or 8.5% of the U.S. economy. Likewise, a 2021 paper in the Journal of Law and Economics estimated that victims of white-collar offenses in the U.S. lose $1.9 trillion per year to such crimes, or 8.0% of the U.S. economy. These figures only include “victims’ losses” and exclude the “direct costs of law enforcement” and “criminal justice” and the “indirect costs of private deterrence, fear and agony, and time lost to avoidance and recovery.” White collar crime includes dozens of different offenses, such as bribery, credit card fraud, identity theft, employee theft, welfare fraud, cyberattacks, insider trading, securities fraud, wire fraud, tax fraud, insurance fraud, money laundering, unnecessary repairs, telemarketing scams, writing bad checks, health care fraud, false advertising, and intellectual property theft.