Exposing Fraud

CHAPTER 2 Concepts and Dynamics of Fraud

I find that the harder I work, the more luck I seem to have.

—Thomas Jefferson

  INTRODUCTION

Having engaged with definitions and made reasonable discourse on certain key points (misrepresentation, for example) we now begin to deal with fraud contexts and scenarios in earnest.

In the main, in fraud there is no ‘scene of crime’ and often there are no mistakes to follow. This is a major reason why there have been such enormous hurdles in tackling the problem. But these hurdles are in effect man-made. That is still a true entity and the existing state of the norm in investigating crime even when fraud activity took a new turn, when fraud visibly and palpably was worked into alignment with cybercrime.

A recent development also covered in this chapter is the speed and rapidity of frauds in contexts of finance and credit cards, with the unenviable task of reconciling security against fraud with the insatiable need to have the business edge against other banks and hence leading a strategy for ‘Faster Payments.’

Exposing Fraud must, if it is to be taken to its full value, also bring out the shortcomings and wanton political hurdles by some in enforcement, and those with formal responsibilities to investigate, but who habitually or culturally by organisation fail to do so, and by conclusive fact, fail the victim of fraud. This is not to be critical ...