Adopting a victim-centered approach
In order to adopt a victim-centered approach , the Financial Industry Regulatory Authority ( FINRA ) Investor Education Foundation shared best practices divided into five categories . 3
1 . Showing compassion :
• From the beginning , victims need to know you care for and respect them .
• Acknowledge the trauma the victim is experiencing at the outset .
• Victims need to know they are not to blame for being victimized .
• Victims may benefit from understanding the powerful persuasion tactics that scammers use .
• Do not infantilize or be too familiar with the victim , particularly if the victim is older .
2 . Listening actively :
• Maintain eye contact
• Use a friendly tone of voice
• Paraphrase the information given by the victim
• Let the victim share the story once through , uninterrupted
• Ask open-ended questions
• Affirm the victim ’ s experience
3 . Being sensitive to the victim ’ s fears and safety concerns :
• Build relationships with victims and let them know you are there to help .
• Victims may take time to fully grasp what has happened to them .
• Victims may fear the perpetrator if he or she is a family member .
• Victims may also be victims of other forms of abuse by the perpetrator .
• Victims may have difficulty trusting anyone , including the victim advocates and others attempting to help .
4 . Understanding why victims may return to you for help multiple times :
• The fraud may be ongoing .
• They discovered a new facet of the fraud or have additional information to share .
• They need additional support accessing services .
• They may be economically dependent on the exploiter .
5 . Protecting and advocating :
• If relevant , create a safety plan to prepare the victim for future contact with the perpetrator .
• Report the financial fraud to LE authorities when appropriate .
• Assess the victim ’ s need for referral to other professionals , including :
— Adult protective services — Legal aid or other civil attorneys — Nonprofit consumer credit counseling — Mental health support
— Medical care or evaluation , especially if there are concerns about a victim ’ s physical or mental capacity
ACAMS Today June – August 2023 69