Financial Times: Victims of financial crime suffer psychological shocks

 

The impact of financial crimes goes well beyond the monetary shock for those affected, according to a new study which calls for a regulatory overhaul and better support for the victims.

“Financial fraud is a blight on our economy, on our society and on our country. But financial fraud and malpractice also has a huge human cost. As this paper shows, it destroys innocent people’s lives,” says David Pitt-Watson, fellow at Cambridge Judge Business School.

“This is a profoundly serious problem in plain sight, an ugly elephant in the room. We can and must do so much better.” David says.

Read the full article [ft.com]