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How to Get Away with Financial Fraud
Article

How to Get Away with Financial Fraud

The Guardian, 2018

автоматическое преобразование текста в аудио
автоматическое преобразование текста в аудио

Editorial Rating

9

Qualities

  • Eye Opening
  • Hot Topic
  • Engaging

Recommendation

In the summer of 2012, global financial headlines centered on the British bank Barclays’s masterful manipulation of Libor interest rates. Yet despite the novelty of the machinations involved, the root of the scheme hewed a path similar to those of many previous monetary crimes. Investment insider and author Dan Davies dissects the psychology and pathology of major institutions’ devious behavior that investors and regulators often overlook because, as Davies explains, the activities are “outside your field of vision.” getAbstract recommends this engaging narrative of financial scams and scandals to investors and executives.

Take-Aways

  • The 2012 Libor scandal did not involve a highly complicated financial engineering ploy. 
  • Financial scandals in the advanced economies play to a common denominator: The manipulators use the system to hide their activities in plain sight. 
  • Regulators and stakeholders could spot illegal activity at many points during a deception, if only they took the time to ascertain the facts.

About the Author

Dan Davies is an author and a former economist at the Bank of England.


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