Last Will and Embezzlement
Relevance: A documentary by Deborah Louise Robinson about the perils of elder financial abuse. Combining expert commentary with emotional case studies, the film addresses everything from mortgage scams to forged bank documents, and asks compelling questions about decision making and competency.
Weapons of Fraud
Relevance: Developed in conjunction between the Attorney General of Washington State and the state AARP, this 2-part, 20 minute video gives an inside look at the tactics used by fraudsters, as well as interviews with both victims and scam artists.
The Weapons of Fraud - Consumer Protection Minute
Relevance: Washingston State AARP Director Doug Shadel offers brief tips on the tactics used by fraudsters.
Tough Times: Outsmarting Investment Fraud - Part 1 of 3
Relevance: This presentation by President of FINRA Investor Education Foundation, John Gannon, covers the basic facts about fraud prevalence, prevention, and vulnerability.
Tricks of the Trade: Outsmarting Investment Fraud
Relevance: This brief trailer for the 60-minute educational video provides a glimpse into the tactics and vulnerabilities associated with fraud. The video is a development of the FINRA Investor Education Foundation in partnership with AARP.
Hang Up on Investment Fraud
Relevance: The FIRNA Investor Education Foundation presents this educational video on the “right” and “wrong” way to hang up on an investment fraudster’s sales call.
Dan Ariely asks, Are we in control of our decisions?
Relevance: Effective financial fraud prevention depends on an accurate understanding of the financial mistakes in decision making that consumers make. In stark contrast to the standard notion of “rational consumers”, behavioral economist Dan Ariely presents a well-substantiated notion of humans as “predictably irrational.” This video highlights substantive ways in which we might account for these irrational tendencies and more successfully protect consumers, savings, and society.
This TED talk was uploaded in May 2009.
Barry Scwartz: The paradox of choice
Relevance: While our common belief is that more choices allows us, as consumers, to make better and more appropriate decisions, Barry Schwartz proposes that more options actually leads to worse decision making. In order to improve consumer behavior and prevent financial fraud, then, the methods should consider limiting options, not expanding them.
This TED talk was uploaded in January 2007
Dan Ariely: Why we think it’s OK to cheat and steal (sometimes)
Relevance: When considering fraud prevention, it may be useful to understand the motivations of those who commit fraud, and how different situations may increase the likelihood of committing various forms of dishonesty. Ariely also notes that, when people are asked to consider a social rule relating to honesty (an honor code, a set of religious commandments, etc.), people behave more honestly. Similarly, people evaluate the behavior of others in their social group to determine the amount of dishonesty they will commit.
This TED talk was uploaded in March 2009.
