Financial Fraud
Focusing on Deterrence to Combat Financial Fraud and Protect Investors
Michael H. Hurwitz; 75(1): 1519-1550 (Winter 2019-2020)
This article discusses the harm to the economy and to investors caused by financial fraud and proposes concrete steps to combat such fraud through a credible policy of deterrence. The author notes that criminal prosecutions against the perpetrators of financial fraud has declined over the past decade or more and argues that this has weakened the ability of the government to deter those contemplating the commission of such crimes.