Scams, Schemes & Swindles
SCAMS, SCHEMES & SWINDLES A REVIEW OF CONSUMER FINANCIAL FRAUD RESEARCH Martha Deevy Shoshana Lucich Michaela Beals 2012 fraudresearchcenter.org “To the extent that people reach old age mentally sharp, physically fit, and financially secure, the problems of individual and societal aging fall away.” — Laura L. Carstensen Founding Director, Stanford Center on Longevity 2 Financial Fraud Research Center | fraudresearchcenter.org LETTER FROM THE DIRECTOR Dear Colleagues, DearIn November Colleagues, 2009, an expert group of academics, regulators, practitioners, and policy- makers gathered at the Stanford Center on Longevity to discuss the growing threat of Launched in August 2011, the Financial Fraud Research Center (FFRC) is a new partnership between the Stanford Centerfraud. on FromLongevity this and discussion the FINRA Investor arose Educationboth a renewed Foundation. understanding This initiative grew of out the of aurgency convening to at addthe ress Stanfordfinancial Center fraud, on Longevity as well of asan experta new group partnership of academics, between regulators, thepractitioners, Center and on policy-makers Longevity gatheredand the to discuss the devastating impact of financial fraud. From this discussion, supported by AARP, arose a renewed understandingFINRA Investor of the Education broad impact Foundation. of financial fraud, and acknowledgement that the field could benefit from greater collaboration. In August 2011, the independent Research Center on the Prevention of Financial Fraud Thecame FFRC to identified life. One three key initiatives goal ofnecessary this partn to successfullyership i sadvance to vitalize the fight and against catalyze financial interest fraud: in financial fraud prevention and detection, bridging innovative research to practical efforts. It is this • Consolidating research and information in accessible language.
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