“…It is through this interpretive frame, informed by broader social and institutional logic, that the financial markets may be viewed as criminogenic and prone to fraud. This is not so much the skilful use of motives, interests and incentive structures, but, rather, one of knowledge and knowledgeability, where, as the findings revealed, the perpetrators are calculative in their actions because they know the prospect of criminal persecution is minimal and choose to maximise their net utility through criminality for personal gain (Davis & Pesch, 2013;Morales et al, 2014;O'Connell, 2004;Ramamoorti, 2008;Rezaee, 2005;Stalebrink & Sacco, 2007).…”