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Entering the world of fraud investigation

Tom Golden, a forensic accounting investigator, invites listeners into the world of fraud investigation in the fifth episode of Down the Pipeline, RC’s very own podcast on everything upcoming in the business industry.


Financial fraud is right under our noses

“The problem is it’s uncommon in the listener’s minds only because it’s rarely publicized. Around 85-90% of my cases never got prosecuted in any type of government.”

Tom shares the complexity that comes behind working as a forensic accounting investigator; perpetrators who have stolen money could walk away without facing consequences, due to the majority not being prosecuted.

Ethics and morality

“The typical white-collar criminal is someone who’s just like you, me, and everyone around us.”

Most don’t enter their jobs thinking they would become perpetrators of financial fraud, but Tom shares scenarios where people rationalize their morals to justify their actions. Despite having strong integrity and high morals, influences from colleagues and leaders may play a role in how good people could rationalize breaking the law to commit these crimes.

Listeners may also fall into being the victim of financial fraud; Tom shares that it all comes down to misplaced trust. There are two elements causing individuals to become the victim: trust and con. People surround themselves with others they trust, thus it’s important to ensure trust is not being misplaced. Tom stresses that it’s important to be aware of the characteristics of con artists to prevent becoming a victim.

Verify when trusting people

“Students should have the fortitude to defend against the possibilities of becoming a victim. Trust employees but monitor them, that’s key.”

Tom urges students to monitor and verify the people around them—both in their work and personal life—to not become a victim of financial fraud. He shares that monitoring people is the primary prevention mechanism to keep honest people honest.

To learn more about financial fraud with Tom, check out Down the Pipeline Podcast Episode 5.

August 19, 2022

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