Fraudulent Practices in Trading Financial Instruments on Capital Markets

Ioan Ovidiu Spătăcean () and Elena-Mădălina Țepeș ()
Additional contact information
Ioan Ovidiu Spătăcean: University of Medicine, Pharmacy, Sciences and Technology “George Emil Palade” Târgu Mureș, Romania
Elena-Mădălina Țepeș: Golgring SA, Investment company, Târgu Mureș, Targu Mures,540014, Romania

Acta Marisiensis. Series Oeconomica, 2025, vol. 1, 51-58

Abstract: The paper analyzes abusive and fraudulent practices encountered on the Romanian capital market, emphasizing their impact on investors and their trust in the market. The main types of financial fraud are presented, ranging from insider trading and Ponzi schemes to recent digital frauds. The comparative case study between the traditional Harinvest fraud and digital frauds reveals significant differences in mechanism, scope, and detection difficulty. Moreover, through a questionnaire applied to investors, the study evaluates the level of awareness regarding fraud risk and the role of financial education. The results indicate major vulnerabilities, but also opportunities for strengthening protection measures.

Keywords: capital market; financial frauds; financial education; investors. (search for similar items in EconPapers)
JEL-codes: G23 G41 (search for similar items in EconPapers)
Date: 2025
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://oeconomica.umfst.ro/images/oeco2025/5_Spatacean_Tepes.pdf (application/pdf)

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:pmu:oecono:v:1:y:2025:p:51-58

Access Statistics for this article

More articles in Acta Marisiensis. Series Oeconomica from "George Emil Palade" University of Medicine, Pharmacy, Sciences and Technology of Târgu-Mureș, România - Faculty of Economics and Law Contact information at EDIRC.
Bibliographic data for series maintained by Ion Cozac ().