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It’s a must-see documentary for those interested in how Generation Social is putting its twist on financial deception. It also documents how Fyre Festival founder Billy McFarland engaged in criminal fraud warranting a six-year prison sentence.
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Fyre: The Greatest Party That Never Happened memorializes the time when hundreds of stoked music buffs were stranded on an unforgiving Bahamian island without shelter, sufficient food, or water. The infamous Fyre Festival rudely introduced a generation of millennials and their younger counterparts to the realities of fraud. With all due empathy for the victims of these crimes, the directors of these films manage to make financial scammery a darned entertaining watch. They document some of the most notorious financial scandals of the past century. The following documentaries are master classes on financial crime. And, as you’ll find out, not all financial negligence is technically illegal. From multi-million-dollar ponzi schemes to money laundering by criminal organizations, intentional financial fraud takes many forms.
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Then there’s the intentional sort of financial crime. Fines for lack of compliance, for example, often stem from the complexity of doing business-they don’t generally indicate malice. We know from our AML Bank Fines Report Q1-2021 that many financial infractions are unintentional. Just as law enforcement catches onto one scam or tactic, dozens of more sophisticated, innovative scams unfold. Financial crime is an ever-evolving organism that decimates its victims.