Financial Crimes

Lowe, Jonquil (2022). Financial Crimes. In: Luu, Lien; Lowe, Jonquil; Ring, Patrick John and Sahota, Amandeep eds. A Practical Guide to Financial Services. Abingdon, UK: Routledge, pp. 213–231.

DOI: https://doi.org/10.4324/9781003227663-10

Abstract

• Trust between customer and provider is implicit in most financial services which contributes towards opportunities for crime.
• Financial crime lies on a spectrum of behaviours that may cause consumer detriment. Whether or not some types of behaviour amount to a crime may change over time and can differ depending on whether it is viewed from an industry or consumer perspective.
• Financial crimes can result in widespread economic damage.
• Scammers exploit innate human behavioural traits and so one form of protection against scams involves identifying and diffusing the emotional response.

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