7 Things Fraud Examiners Can Do While Staying at Home

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GUEST BLOGGER
Hallie Ayres
Contributing Writer

The spread of COVID-19 has transformed the everyday lives of millions of people. For the vast majority of us, we’ve found ourselves navigating the challenges that come with working from home and all the distractions that may involve, whether it’s binging too much TV, raiding the fridge or wrangling children. While it can feel nice to lounge in pajamas while working, the change in routine can also carry significant stressors. As a way to combat the trials of quarantine, we’d like to offer some anti-fraud-related activities that you can enjoy virtually with friends or family to enliven your days as we work to combat the spread of coronavirus and fraud.

1. Virtual Netflix party for “The Laundromat”

Based on true events, this hilarious drama recounts one woman’s quest to understand how she was swindled out of insurance money after the death of her husband. Her search eventually leads her to two lawyers who head a company that works to launder millions on behalf of the world’s elites. Jürgen Mossack and Ramón Fonseca, the real-life fraudsters behind the scandal, narrate the star-studded cast’s adventures as they hunt for the truth behind the illicit world that eventually came to light in the 2016 leaking of the infamous Panama Papers. “The Laundromat” is the perfect fast-paced flick to enjoy with faraway friends over video chat. Download the Netflix Party Chrome extension and set a date with some of your closest fraud-fighting friends.

Prefer a documentary? Enjoy “FYRE: The Greatest Party That Never Happened” on Netflix, “Fyre Fraud” on Hulu, or “The Inventor: Out for Blood” on HBO instead.

2. Book club “Why They Do It: Inside the Mind of the White-Collar Criminal”

In this book, Harvard Business School professor Eugene Soltes shares his illuminating investigation into the minds and motives of high-profile executives who fell from grace as a result of their involvement in white-collar crime. Featuring extensive research into psychology, economics and criminology, as well as interviews with dozens of convicted white-collar fraudsters, “Why They Do It” grants the reader a fascinating inside look at the dubious mechanics of white-collar crime. Order a copy of the book online and encourage a few fraud-fighting friends to join your reading journey. Then organize weekly virtual check-ins to chat about the book’s wild stories and valuable lessons for fellow fraud examiners.

Already read it? Check out “Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World” by Bradley Hope and Tom Wright, or “Bad Blood: Secrets and Lies in a Silicon Valley Startup” by John Carreyrou.

3. Order Fraud: The Game of White-Collar Crime and host a family game night

Have you ever wanted to try your hand at insider trading? What about running a Ponzi scheme and then winning a presidential pardon? If you’re tired of letting crooked CEOs have all the fun, now you, too, can experience the high-risk thrills of cheating people out of their hard-earned savings. Grab a copy of Fraud: The Game of White-Collar Crime, a new card game created by software compliance expert Pete Newman and gather your family for a rousing game night. The game is easy to learn and fun for adults and children alike, so this period of quarantine can become the perfect opportunity to encourage the next generation of fraud fighters to stay vigilant by exposing them to the tools of the trade in an accessible card game. Meanwhile, check out the ACFE Insights interview with Pete Newman, the game’s creator.

4. Participate in the 90-Day CFE Exam Challenge

Need a concrete goal to be working toward to get you through this quarantine? Now could be the perfect time to join the ACFE’s 90-Day CFE Exam Challenge! Studying for the CFE Exam can be a stressful and isolating task as it is, but the ACFE’s challenge ensures that you’ve got support from peers, former challenge participants and ACFE staff. With weekly check-ins and access to private discussion forums, studying to pass the CFE Exam becomes even more attainable and, dare we say, enjoyable! Sign up by April 1 to get on track to pass the exam by June 30. The encouraging accountability and the proven timeline can help you make the most of this time, and allow you to feel even more confident in your career goals once we’re all back out in the world.

5. Spend time educating your loved ones on how to spot fraud risks

Next time you call to check-in on your older relatives, consider dropping in a little lesson on how to spot common fraud risks such as robo-calls, romance scams and fake medicare representatives. Talking through the types of scams that tend to affect older populations can turn into productive conversations for your loved ones to air grievances and learn how to combat rampant fraud tactics they may encounter on a regular basis. Not only will you be increasing the probability of stopping fraudsters in their tracks, but you’ll also get to flex your knowledge about and passion for the field of fraud examination.

6. Listen to engaging podcasts

Podcasts are an easy way to stay informed and educated during this time of self-isolation. Lucky for us, there are a handful of podcasts that discuss everything from fraud-fighting best practices to gripping tales of corporate crime and legendary high-profile scams. For those who desire to learn more about white-collar crime, “Swindled” provides episode-long investigations into the dramatic and deceitful world of high-profile greed and corporate con artists. For a very deep dive into one of history’s most infamous schemes, dive into “Ponzi Supernova",” a six-episode journey through all the intricacies and eccentricities of Bernie Madoff’s $65 billion Ponzi scheme. Be sure to also check out the ACFE’s own podcast “Fraud Talk” to hear experts weigh in on relevant case studies and to keep up with the latest in the fraud-fighting industry.

7. Bolster your own online security

Now may also be the ideal time to do a deep dive into your own computer security system. Last year, a spate of ransomware attacks put multiple municipalities in the U.S. out of commission for weeks because fraudsters were able to sneak through shoddy online security and old software and hardware. It’s important to continuously take stock of your online footprints, especially as millions of people around the world may be using their personal devices in a more professional capacity since they’re working from home. Consider setting aside a chunk of time to overhaul your online privacy and security settings by changing passwords, implementing two-factor authentications for your email and cloud storage sites, and updating any out-of-date software.

While mitigating the spread of the novel coronavirus is vital, there’s no reason we can’t have a good time and expand our knowledge of the fraud examining industry while we’re staying at home. Be sure to wash your hands, maintain social distancing and practice much-needed self-care. We know you will stay committed to fighting fraud, even if you have to do it from your couches and home offices.