Chang, Joshua, and Chong, Mark David (2022) Cognitive heuristics and risk evaluation in crisis fraud. Journal of Financial Crime, 29 (2). pp. 447-459.

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Abstract

Purpose: The recent COVID-19 crisis has been followed by an epidemic of fraud. This article evaluates cases of COVID-19 related fraud to identify cognitive heuristics that influence decision making under the pressure of crisis conditions.

Methodology: An analysis of fraud advisories and cases relating to COVID-19 is conducted and matched against various types of cognitive heuristics to explain their influence on victims of crisis fraud.

Findings: The affect, availability, cue-familiarity, representativeness, and scarcity heuristics are identified and explained to have a substantial influence on risk evaluations of crisis fraud.

Originality: The findings from this study can help individuals avoid fraud victimisation by helping them understand psychological vulnerabilities that they may be unaware of under the pressure of crisis conditions.

Item ID:	66295
Item Type:	Article (Research - C1)
ISSN:	1359-0790
Keywords:	Crime; Fraud; Internet; Crisis; Psychology; COVID-19
Copyright Information:	© Emerald Publishing Limited
Date Deposited:	30 Jun 2021 01:50
FoR Codes:	44 HUMAN SOCIETY > 4402 Criminology > 440201 Causes and prevention of crime @ 100%
SEO Codes:	23 LAW, POLITICS AND COMMUNITY SERVICES > 2304 Justice and the law > 230402 Crime prevention @ 100%
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