Faces of Fraud: Cases and Lessons from a Life Fighting Fraudsters

Chapter 13

More Tips, Best Practices, and Lessons

Throughout my 40-year career, I have witnessed the behaviors and damaging actions of fraudsters, the impact on their victims, and how best to detect, investigate, and prevent fraud and corruption. In this chapter I provide you with more of my tips, best practices, and lessons from my long career. I also include more case studies and the knowledge gained from those investigations.

Become a Subject Matter Expert

Experience in fighting fraud does not happen overnight. It can take many years, with each new case and type of fraud investigated providing valuable lessons. I recommend the 70/20/10 learning approach. Seventy percent of learning comes from on-the-job experience investigating fraud. Each new case is a great learning experience. Twenty percent comes from learning from others, so find that great teacher and mentor and learn from him or her. Ask questions and incorporate those best practices into your repertoire. Ten percent of learning comes from formal training and certifications. Make sure you receive ongoing training in fraud topics and investigative best practices, whether conducted by your employer or by another organization. Attend professional conferences where you can learn from the best. Become a Certified Fraud Examiner or Certified Compliance and Ethics Professional. I made both certifications a requirement for members of my Financial Integrity Unit at Microsoft.

Become a subject matter expert (SME) in the detection, ...