My fraud IQ sucks. The Journal of Accountancy told me that when I took the "What's Your Fraud IQ" quiz in the August issue. I usually do pretty well. Not this month - 40 percent. I should've cheated. The answers are right there. But like you, I live my life according to a Code of Professional Conduct and am therefore committed to maintaining my integrity, especially when taking quizzes found in magazines. (According to Cosmo's "Are You a Good Flirt" quiz, I'm a "too-coy chick." I have so much integrity sometimes my penis falls off.) I am also committed to maintaining my competence. Here are some of the knowledge balls that I caught in my learnin' mitt.
According to the ACFE's 2012 Report to the Nations on Occupational Fraud and Abuse, in 35 percent of fraud cases, the perpetrator exhibited the behavioral red flag of living beyond his or her means; and 27 percent of fraudsters were experiencing financial difficulties. Those appear to be interesting statistics until you flip them around. Apparently 65 percent of fraudsters are living within their means, and 73 percent have no financial difficulties. Sounds like the typical person who commits occupational fraud is awesome at personal financial management. Dave Ramsey must be so proud of them. What kind of a-hole has plenty of discretionary income, no pecuniary shortcomings, and steals money from work? Either that pisses me off, or it's a completely useless data point.
Deceptive individuals are much less likely to voice direct denials to an accusation, and their denials are more likely to grow weaker with repeated accusations, whereas an honest individual's denials typically will grow stronger.
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