ABSTRACT
This chapter explores the impact of fraud on the victims, examining both the financial and non-financial harms experienced by these victims, and in doing so it will draw upon some of the latest research from around the world. It demonstrates the completely devastating impacts that fraud can incur on victims, leading some to even commit suicide. There are a number of aspects linked to the psychological impact of crime. Some will avoid the situation associated with the crime, such as rape victims avoiding similar places to where they were attacked. Many violent crimes involve injuries to the victim, which result in the need for medical treatment. It is critical to debunk the commonly accepted myth that many frauds are a 'victimless crime'. This view largely arises from the prevalence of credit card fraud victims who suffer a financial loss, but who then are reimbursed by their banks.
