Findings from a Pilot Study to Measure Financial Fraud in the United States

72 Pages Posted: 10 Feb 2017

See all articles by Marguerite DeLiema

Marguerite DeLiema

Stanford University - Stanford Center on Longevity

Gary R. Mottola

Research Director FINRA Foundation

Martha Deevy

Stanford University - Stanford Center on Longevity

Date Written: February 9, 2017

Abstract

Consumer financial fraud is a serious problem in our society. While researchers estimate that billions of dollars are lost to scams each year, measuring the true prevalence rate and costs of financial fraud has been hindered by a number of challenges. The FINRA Investor Education Foundation and the Stanford Center on Longevity — working in collaboration with the U.S. Department of Justice — embarked on a project to create, test and refine a survey instrument to measure the scope of the problem. This study reports the results of the pilot test for this new survey instrument.

Keywords: Financial Fraud, Scam, Prevalence, Taxonomy

JEL Classification: K40

Suggested Citation

DeLiema, Marguerite and Mottola, Gary R. and Deevy, Martha, Findings from a Pilot Study to Measure Financial Fraud in the United States (February 9, 2017). Available at SSRN: https://ssrn.com/abstract=2914560 or http://dx.doi.org/10.2139/ssrn.2914560

Marguerite DeLiema

Stanford University - Stanford Center on Longevity ( email )

Stanford University
579 Serra Mall (Serra at Galvez) - Landau Building
Stanford, CA 94305-6053
United States

Gary R. Mottola (Contact Author)

Research Director FINRA Foundation ( email )

1735 K ST NW
Washington, DC 20006
United States

HOME PAGE: http://www.finrafoundation.org

Martha Deevy

Stanford University - Stanford Center on Longevity ( email )

Stanford University
579 Serra Mall (Serra at Galvez) - Landau Building
Stanford, CA 94305-6053
United States

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