The Rise of Financial Fraud

Kimberly Blanton

Issues in Brief from Center for Retirement Research

Abstract: Individuals save for decades to ensure that they will have financial security in retirement. That security can be threatened or eliminated virtually overnight if an individual who is in or near retirement becomes the victim of a financial fraud, such as a Ponzi scheme or sham investment in high-yield securities. Fueled by the Internet, the incidence of financial fraud is on the rise. Law enforcement officials and fraud experts expect the trend to continue or accelerate as aging baby boomers increasingly become targets. According to the Federal Trade Commission (FTC), Americans in 2010 submitted more than 1 million complaints about financial and other fraud – up 35 percent in just three years. But these data do not fully represent fraud’s pervasiveness, because researchers say that it often goes unreported to the authorities...

Pages: 8 pages
Date: 2012-02, Revised 2012-02
New Economics Papers: this item is included in nep-age
References: Add references at CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
http://crr.bc.edu/briefs/the-rise-of-financial-fraud/ R
Our link check indicates that this URL is bad, the error code is: 403 Forbidden (http://crr.bc.edu/briefs/the-rise-of-financial-fraud/ [301 Moved Permanently]--> https://crr.bc.edu/briefs/the-rise-of-financial-fraud/)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:crr:issbrf:ib2012-5

Access Statistics for this paper

More papers in Issues in Brief from Center for Retirement Research Contact information at EDIRC.
Bibliographic data for series maintained by Amy Grzybowski () and Christopher F Baum ().