Insidious – How Trusted Employees Steal Millions and Why It’s So Hard for Banks to Stop Them is a new book that provides insight into a critical problem plaguing banks today: employee fraud.
The book reveals never-before-told stories of insider fraud and examines the motivations and personality traits of employees who commit this crime.
To shed new light on the subject of insider fraud, the authors talked to dozens of sources, well-known as well as unconventional. Included are interviews with reputational damage experts, executives at banks of all sizes, industry pundits, theoretical mathematicians, the Bureau of Engraving and many others.
Insidious also delves into actual accounts of how employees commit fraud, and why banks are having such a difficult time stopping them. Historically, embarrassed silence or denial greets any discussion of employee fraud. But industry work groups and visionary banks are starting to speak up — motivated by escalating losses, high-visibility fraud events and a marked rise in employee fraud.
The book goes behind the scenes at banks and talks to the analysts and investigators who know firsthand why employee fraud is so hard to stop — and who share their stories from the frontlines of fraud. It highlights dozens of real-world fraud schemes that generate jaw-dropping losses, send customers fleeing and damage the reputations of the affected financial institutions.