Financial regulation and fraudulent activity

Andrew Haynes

Chapter 7 in A Research Agenda for Financial Crime, 2022, pp 125-146 from Edward Elgar Publishing

Abstract: Fraudulent activity in relation to regulated investments has become a major criminal activity with very little being done in response. Such fraudulent crime exists in a number of forms and the development of the internet, which reaches into almost every business and home has greatly facilitated the range of financial crimes that can be carried out because of the ease of access for criminals to the general public. This chapter examines the nature of fraud and why so little is being done to combat it. Each of relevant enforcement bodies is considered in terms of their effectiveness in this area and consideration is given as to why none of them are having a significant effect. Frauds that affect larger organisations and the state itself tend to have a significant response from law enforcement but this does not carry over to those which affect a single member of the public or groups of them. The chapter also considers what might be done to improve the situation.

Keywords: Economics and Finance; Law - Academic; Sociology and Social Policy (search for similar items in EconPapers)
Date: 2022
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