What is the general statute of limitations for financial crimes?

• A. 5 years from date of last transaction
• B. 7 years from date of last transaction
• C. 3 years from discovery
• D. 10 years from commission

Answer: (A)

The main idea is that the default time limit for charging most financial crimes in federal law is five years. The clock starts when the offense is completed—that is, from the date of the last transaction that finalizes the fraudulent scheme. If the crime unfolds over multiple acts, use the date of the final act as the starting point, not when the crime was first contemplated or began.

Discovery by victims or authorities does not usually restart or extend this period in criminal cases, so “from discovery” isn’t the general rule. Similarly, the limit isn’t typically measured from the original commission date alone, since the offense may span multiple transactions and the last one marks the completion of the crime. Ten years from commission would be longer than the standard period and isn’t the general rule for most financial crimes.

So, five years from the date of the last transaction best reflects the common statute of limitations for financial crimes, with the usual caveat that tolling or special exceptions can apply in specific circumstances.