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What Drives Financial Fraud? It Can Come Down to One Emotion | News Channel 3-12

Joe Hunt reestablished contact with his old high school friends living in Los Angeles and promised them a new business opportunity that would generate substantial wealth.
This venture lured the young men into a web of fraud driven by greed, which ultimately devolved into murder, serving as a cautionary tale.
Experts say greed, defined as wanting to own and consume, has historically driven financial fraud by manipulating emotions and exploiting aspirations for wealth.
In 2023, victims reported over $5.6 billion lost to cryptocurrency fraud, a 45% increase from 2022, with the SEC charging schemes raising up to $198 million.
These events highlight persistent risks where lack of oversight and promises of easy wealth create strong opportunities for fraud and deception.

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What drives financial fraud? It can come down to one emotion

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