Financial frauds throughout the years – literature review
Financial frauds throughout the years – literature review

Summary/Abstract: Financial frauds have been a growing problem across the global financial markets. Losses generated by such illegal activities affect both the global economy and individual entities, especially those operating in the financial market. Perpetrators of such frauds seem to always be one step ahead of the law enforcement, reg-ulators as well as private sector entities such as banks and scien-tists. This review examines publishing actions taken throughout the years. It also shows whether there has been any correlation spotted between the number of papers published in a particular year and the events on the financial markets. Finally, the article summarises all types of financial frauds which have been identi-fied in the literature and assesses whether the selection of those types is original or had already been identified in the past years. The study involved a systematic literature review to achieve the set goals. Following the final results of the article, it is clear that the issue of financial frauds has been a growing global concern. It is crucial to strengthen the collaboration between the regula-tors, law enforcement, academic environment and private sector. Cooperation across the sectors should include research on how to prevent and mitigate the consequences of this kind of frauds.

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