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Money never sleeps: A criminological analysis of Ponzi schemes
Thu, September 12, 8:00 to 9:15am, Faculty of Law, University of Bucharest, Floor: 1st floor, Amphitheater 6 „Nicolae Basilescu”Abstract
Ponzi schemes are fraudulent schemes where participants are lured to invest money with promises of high returns, primarily by recruiting new members rather than from legitimate business activities. As the scheme grows, it becomes unsustainable and collapses, leaving most investors with losses.
The relevance and timeliness of the topic of Ponzi schemes are evident given the ongoing emergence of new fraudulent schemes and the devastating impact they can have on individuals and society at large. In an increasingly interconnected and digital world, fraudsters have more tools at their disposal to carry out these schemes in a more sophisticated and widespread manner. Furthermore, the growing complexity of financial markets and the global economy can create conducive conditions for the proliferation of fraudulent schemes.
A criminological analysis of Ponzi schemes offers several important benefits. Firstly, it can help understand the causes behind the criminal behavior of fraudsters, including individual, social, and economic factors that may influence their decision to engage in these fraudulent activities. This, in turn, can inform the development of more effective prevention and law enforcement strategies to combat these schemes.
Additionally, a criminological analysis can help identify the risk factors and vulnerabilities that make individuals more susceptible to becoming victims of Ponzi schemes. By better understanding these factors, specific interventions can be designed to protect at-risk individuals and reduce the incidence of these schemes.
In summary, a criminological analysis of Ponzi schemes provides valuable insights into the nature and causes of this type of fraud, as well as guidance on how to prevent it and protect affected individuals. Given the increasing importance and prevalence of Ponzi schemes in today's society, this analysis is crucial for effectively addressing this issue and protecting individuals against financial and emotional exploitation.