n South African Journal of Criminal Justice - Affinity-based security fraud : an 'economic' hate crime? : comments
|Article Title||Affinity-based security fraud : an 'economic' hate crime? : comments|
|© Publisher:||Juta Law Publishing|
|Journal||South African Journal of Criminal Justice|
|Affiliations||1 University of South Africa|
|Publication Date||Jan 2014|
|Pages||172 - 180|
Affinity-based investment or securities fraud is a form of investment fraud that targets persons who belong to a specific religious, ethnic or racial group. Victims are selected due to their lack of knowledge of investment markets and the trust relationship that exists between these group members (LM Fairfax '"With friends like these...": Toward a more efficacious response to affinity-based securities and investment fraud' (2001) 36 Georgia LR 63 70). Affinity-based fraud essentially exploits the trust or affinity such persons have for their 'own group', or by appealing to such persons' altruism for their own specific community (LM Fairfax 'The thin line between love and hate: Why affinity-based securities fraud constitutes a hate crime' (2003) 36 U.C. Davis LR 1073 1079 - 1080; Fairfax (2001) op cit 63 65, 70-71). It has been defined as 'securities and investment fraud that targets members of an identifiable group perpetrated by a member within the group of someone claiming a desire to assist group members' (Fairfax (2001) op cit 70 and n44).
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