Nearly two-thirds of self-reported financial fraud victims experienced psychological and emotional stress, a new report from the Finra Investor Education Foundation found.
The report, Non-Traditional Costs of Financial Fraud, found that victims reported experiencing severe stress (50 percent), anxiety (44 percent), difficulty sleeping (38 percent) and depression (35 percent) due to the fraud.
Additionally, nearly half of victims blamed themselves for the fraud.
The report also found that in addition to the psychological and emotional costs, nearly half of fraud victims reported incurring indirect financial costs associated with the fraud, such as late fees, legal fees and bounced checks.
Twenty-nine percent of respondents reported incurring more than $1,000 in indirect costs, and nine percent declared bankruptcy as a result of the fraud.
The survey of 600 self-reported fraud victims was conducted online in August.