The Dark Side of Fraud - the Link between Fraud and Suicide
Start Date
17-10-2025 2:30 PM
End Date
17-10-2025 3:00 PM
Location
MH 162
Submission Type
Competitive Paper
Track
Accounting and Finance
Abstract
This paper examines the complex relationship between financial fraud and suicide risk, encompassing both perpetrators and victims. While the financial impact of fraud is well documented, with Americans reporting $6.1 billion in losses in just 2021 alone (Iansito, 2022), the psychological toll often remains overlooked. Our research reveals a significant correlation between fraud involvement and increased suicide risk. For fraud victims, the emotional and mental health consequences can be severe. Many experience shame, isolation, and depression, with some reporting suicidal thoughts (Iansito, 2022). The trauma of financial loss, coupled with feelings of betrayal and vulnerability, can lead to a profound sense of hopelessness. In extreme cases, victims have taken their own lives. Fraud perpetrators also face elevated suicide risk, particularly when their schemes are exposed. The collapse of self-delusion and the intense social humiliation and shame that follow can trigger suicidal crises. Notable examples include the suicides of executives involved in high-profile fraud cases, such as those at Enron and Theranos. Our study utilizes longitudinal data and case studies to analyze suicide rates among both groups. We explore psychological processes leading to suicidal behavior in fraud-related contexts. Additionally, we examine the role of mental health interventions and support systems in mitigating suicide risk. This research aims to raise awareness about the mental health implications of financial fraud and inform prevention strategies for both victims and perpetrators. By understanding these dynamics, we can develop more effective interventions and support mechanisms
The Dark Side of Fraud - the Link between Fraud and Suicide
MH 162
This paper examines the complex relationship between financial fraud and suicide risk, encompassing both perpetrators and victims. While the financial impact of fraud is well documented, with Americans reporting $6.1 billion in losses in just 2021 alone (Iansito, 2022), the psychological toll often remains overlooked. Our research reveals a significant correlation between fraud involvement and increased suicide risk. For fraud victims, the emotional and mental health consequences can be severe. Many experience shame, isolation, and depression, with some reporting suicidal thoughts (Iansito, 2022). The trauma of financial loss, coupled with feelings of betrayal and vulnerability, can lead to a profound sense of hopelessness. In extreme cases, victims have taken their own lives. Fraud perpetrators also face elevated suicide risk, particularly when their schemes are exposed. The collapse of self-delusion and the intense social humiliation and shame that follow can trigger suicidal crises. Notable examples include the suicides of executives involved in high-profile fraud cases, such as those at Enron and Theranos. Our study utilizes longitudinal data and case studies to analyze suicide rates among both groups. We explore psychological processes leading to suicidal behavior in fraud-related contexts. Additionally, we examine the role of mental health interventions and support systems in mitigating suicide risk. This research aims to raise awareness about the mental health implications of financial fraud and inform prevention strategies for both victims and perpetrators. By understanding these dynamics, we can develop more effective interventions and support mechanisms
