COMPLIANCE
Responding to the emotional impact of fraud
Editor ’ s note : This article is the second part of a two-part series on the emotional effects of fraud and how financial institutions ( FIs ) can respond to address the issue . The first part , “ The Emotional Consequences of Fraud ,” is available on the Europe Express column .
Understanding the emotional reactions of victims is crucial to aiding the emotional and financial recovery of fraud victims , and FIs have some important responsibilities in working with fraud victims by adopting a victim-centered approach . According to the Centre for Counter Fraud Studies ’ ( CCFS ) research , fraud victims expect the following priorities as a response to their experience of fraud . While some of the items are more specific to law enforcement ( LE ) agencies , most of them apply to FIs : 1
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