About Larry

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So far Larry has created 22 blog entries.

Who Sent That Email?


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Who Sent That Email?2020-01-07T17:58:27+00:00

Tax Returns, Smartphones and Coincidences


As a member of the Association of Certified Fraud Examiners I receive a magazine called, appropriately, Fraud Magazine.  In the most recent issue there was an article* about the latest identity theft crimes.  I read about W-2 spear phishing that gives a criminal access to someone’s W-2 and other personally identifiable information (PII).  The criminal then [...]

Tax Returns, Smartphones and Coincidences2020-01-10T19:32:52+00:00

The Invisible Fraudster


Being defrauded by someone is bad enough but at least you can dream of retribution. What if you lost money to a fraudster and discovered that the person never existed! That is one of the fastest growing property crimes and it is called Synthetic Identity fraud. In fact some studies have shown that over 80% [...]

The Invisible Fraudster2020-01-10T19:17:31+00:00

And Now For Something Completely Different


Sometimes it helps to look at a situation, such as a fraud scheme, in a different way.  When the scheme is explained this way it seems ridiculous that investors, or auditors, or regulators didn’t see what was happening. Paul Krugman is an economist who won the Nobel Prize for Economics in 2008 and has been [...]

And Now For Something Completely Different2020-01-15T21:53:09+00:00

Hiding in the Numbers


Do you remember Enron?  Executives of this Texas energy company (formed in 1985) decided that providing electricity and natural gas to homes and businesses was not exciting enough.  In the 1990’s management began trading natural gas and electricity contracts to hedge the cost of producing power.   Their business model soon transitioned into offering trading services [...]

Hiding in the Numbers2020-01-15T21:41:36+00:00

Dude, where is my money?


I was watching an episode of American Greed on CNBC recently.  The slick, fast talking con man was able to convince so many friends and neighbors to let him invest their hard earned funds that I was yelling at the television warning them of impending loss.  At least with that show I knew that there would be [...]

Dude, where is my money?2020-03-09T17:40:08+00:00

Lost in the Fraud Triangle


Basketball player and coach Bill Cartwright once said “The triangle is the foundation to an offense”. He meant that as a comment on playing basketball but it is also a way to describe how people turn to fraud. Donald Cressey, a criminologist, wrote about the causes of embezzlement in a 1951 article. His description eventually [...]

Lost in the Fraud Triangle2020-01-15T21:55:46+00:00

Careless Management or Insider Corruption?


How would your company fare if it lost over $300,000 a year to fraud for several years? Last time I discussed the broad categories of fraud and the average impact they had on companies. Now I want to discuss more about fraud variations and what you can do about it. If you are a business [...]

Careless Management or Insider Corruption?2020-01-15T21:35:34+00:00
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