Financial Fraud Prevention Center Launched By Stanford And FINRA
Financial fraud, ranging from Ponzi schemes to online phishing scams and work from home schemes, swindles Americans out of billions of dollars each year. Now, Stanford University's Center on Longevity and the FINRA Investor Education Foundation have joined together to launch the Research Center on the Prevention of Financial Fraud, an interdisciplinary resource for law enforcement, government and research groups studying financial fraud. Although emerging technologies continue to fuel the expansion and reach of financial fraud, this joint initiative is intended to support and consolidate scientific research and connect this research to practical prevention and detection efforts.
"Financial fraud is a serious economic and social problem for people of all ages and our rapidly aging population places an increasing number of older adults at risk for fraud. With the Center on Longevity's dedication to preserving financial security throughout our extended life spans, and with the support of the FINRA Foundation's ongoing commitment to protecting individuals from fraud, the new Research Center on the Prevention of Financial Fraud seeks to enhance the financial security of Americans," said Dr. Laura Carstensen, Stanford Professor in Public Policy, Professor of Psychology, and Founding Director of the Stanford Center on Longevity.
"The FINRA Foundation's partnership with Stanford will deliver practical, cutting-edge research to policymakers and law enforcement. This new joint initiative complements an array of FINRA Foundation initiatives to protect Americans from fraud," said Gerri Walsh, Acting President of the FINRA Foundation.
The Research Center's inaugural conference, The State and Future of Financial Fraud, will take place November 3 – 4, 2011, at the Sofitel in Washington, D.C. The conference will bring together policymakers, researchers, practitioners, law enforcement, advocacy groups and other stakeholders to discuss actionable implications of the latest research and evidence-based programs that successfully arm consumers against fraudulent tactics. Senior public officials and leading researchers will deliver keynote addresses and the conference will feature profiles of fraud victims and perpetrators.
The work of the Research Center is led by an advisory council charged with establishing research priorities and facilitating policy-research development. This group includes Stanford faculty across psychology, economics and business, and officials from the FINRA Foundation, the Securities and Exchange Commission, the National Association of Attorneys General, AARP and other public sector organizations.
The Research Center’s Advisory Council members are:
Laura Carstensen Fairleigh S. Dickinson Jr. Professor in Public Policy, Professor of Psychology, Director and Founder of Stanford Center on Longevity
Geraldine Walsh Vice President, Investor Education, FINRA and Acting President, FINRA Investor Education Foundation
Roderick Kramer William R. Kimball Professor of Organizational Behavior, Stanford University Graduate School of Business
Rob McKenna Washington State Attorney General, President National Association of Attorneys General
Lori Schock Director of the Office of Investor Education and Advocacy for the US Securities and Exchange Commission
Doug Shadel State Director for AARP Washington
William F. Sharpe STANCO 25 Professor of Finance, Emeritus, Stanford University Graduate School of Business
Teresa Thome Deputy Chief Inspector of the Eastern Field Operations in the United States Postal Inspection Service