Abstract
| Original language | English |
|---|---|
| Pages (from-to) | 1-30 |
| Number of pages | 30 |
| Journal | Crime Prevention and Community Safety: an international journal |
| Early online date | 06 Aug 2019 |
| DOIs | |
| Publication status | Published - 06 Aug 2019 |
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A crime script analysis of the Madoff Investment Scheme. / Hardy, John; Bell, Peter; Allan, Douglas M C.
In: Crime Prevention and Community Safety: an international journal, 06.08.2019, p. 1-30.Research output: Contribution to journal › Article
TY - JOUR
T1 - A crime script analysis of the Madoff Investment Scheme
AU - Hardy, John
AU - Bell, Peter
AU - Allan, Douglas M C
PY - 2019/8/6
Y1 - 2019/8/6
N2 - The Madoff Investment Scheme was a long-term and large-scale fraud which involved both an affinity fraud and a Ponzi scheme. Numerous studies have examined financial and legal aspects of the case, but relatively few have explored the case from a criminological perspective. This study applies crime script analysis (CSA) to the Madoff case in order to conceptualise the procedural elements of complex fraud offences and to identify crime prevention opportunities for investigators and regulatory bodies. CSA identifies 12 steps in the offence, occurring in three phases which create a relationship between earlier and later victims, with earlier victims providing credibility to the scheme and later victims generating the resources to sustain it. The study finds that crime prevention techniques which harden targets and extend guardianship could reduce criminal opportunities for offenders and techniques which strengthen formal surveillance and assist natural surveillance could control the capabilities required to perpetrate similar offences.
AB - The Madoff Investment Scheme was a long-term and large-scale fraud which involved both an affinity fraud and a Ponzi scheme. Numerous studies have examined financial and legal aspects of the case, but relatively few have explored the case from a criminological perspective. This study applies crime script analysis (CSA) to the Madoff case in order to conceptualise the procedural elements of complex fraud offences and to identify crime prevention opportunities for investigators and regulatory bodies. CSA identifies 12 steps in the offence, occurring in three phases which create a relationship between earlier and later victims, with earlier victims providing credibility to the scheme and later victims generating the resources to sustain it. The study finds that crime prevention techniques which harden targets and extend guardianship could reduce criminal opportunities for offenders and techniques which strengthen formal surveillance and assist natural surveillance could control the capabilities required to perpetrate similar offences.
KW - Crime script analysis
KW - Financial crime
KW - Fraud
KW - Madoff
KW - Situational crime prevention
U2 - https://doi.org/10.1057/s41300-019-00082-6
DO - https://doi.org/10.1057/s41300-019-00082-6
M3 - Article
SP - 1
EP - 30
JO - Crime Prevention and Community Safety: an international journal
JF - Crime Prevention and Community Safety: an international journal
SN - 1460-3780
ER -