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Date: April 29, 2024 Mon
Time: 9:13 pm
Time: 9:13 pm
Results for financial fraud (australia)
1 results foundAuthor: Ross, Stuart Title: Risk Factors for Advance Fee Fraud Victimisation Summary: Fraud is Australia’s most costly form of crime with the Australian Institute of Criminology estimating that in excess of $8.5b was lost to fraud in 2005 (Rollings 2008). Consumer fraud alone has been found to cost Australians almost $1b each year (ABS 2008c). Most types of consumer fraud entail the use of so-called ‘advance fee’ techniques in which individuals are tricked into paying money — an ‘advance fee’ — upfront in order to secure an anticipated financial or other benefit at a later date. However, the promises of wealth are false and victims invariably lose their payments in full. Such scams have had a huge impact globally, with Ultrascan (2008) estimating that US $4.3b was lost to advance fee fraud in 2006. To date, however, there has been only limited research on how and why people respond to such unsolicited invitations and become victims. This paper examines the characteristics of a sample of victims of advance fee frauds to determine how their behaviour and personal circumstances might have contributed to their willingness to respond to unsolicited invitations and to their subsequent loss of money or personal information. Details: Canberra: Australian Institute of Criminology, 2011. 6p. Source: Internet Resource: Trends & Issues in Crime and Criminal Justice, No. 420: Accessed September 2, 2011 at: http://www.aic.gov.au/documents/2/1/1/%7B21101BFB-1F54-4BC5-B9A8-A837E41DE7BB%7Dtandi420.pdf Year: 2011 Country: Australia URL: http://www.aic.gov.au/documents/2/1/1/%7B21101BFB-1F54-4BC5-B9A8-A837E41DE7BB%7Dtandi420.pdf Shelf Number: 122618 Keywords: Consumer FraudFinancial Fraud (Australia) |