Today, we talk fraud. If we think about some of the most prominent frauds in recent history – from the Bernie Madoff scandal, the LIBOR case or the collapse of Enron, they all seem to have a number of complexities to them. However, as you will hear, all fraud follows a simple logic. That logic is based on trust.
My guest is Dan Davies. Dan is a former regulatory economist with the Bank of England. He has worked at a variety of investment banks and always had a fascination with the many larger-than-life financial scandals in we have all hear about. Scandals like the collapse of Barings Bank caused by rogue trader Nick Leeson (and the subject of the film “Rogue Trader” featuring Ewan McGregor), the Swiss Nazi gold case, and many more.
Such is Dan’s fascination with fraud that he recently wrote a fascinating book on the topic entitled Lying for Money: How Legendary Frauds Reveal the Workings of Our World. This is a very readable book that gives you almost everything you need to know about fraud. Nassim Taleb, of Black Swan fame says that “if you want to learn to fend fraud, read this. And if you want to commit fraud…don’t. But if you absolutely must, read this first.”
We get into the various topics covered in the book including:
- The concept of the “optimum level of fraud” in and economy – this sounds counter-intuitive but because both fraud and economic growth depend on trust, there will always be a level of fraud in an advanced economy;
- The types and characteristics of fraud;
- The mechanics of different types of fraud, including lots of examples;
- Rogue traders;
- Why frauds have a “snowball effect”;
- The role of primal, human emotions in fraud
- Much more
Show notes:
Lying for Money – at Amazon’s UK site
Mentioned during the episode:
The Speed of Trust by Stephen Covey
The Smartest Guys in the Room – The Amazing Rise and the Scandalous Fall of Enron by Bethany McLean and Peter Elkind
The Hour Between Dog and Wolf by John Coates
The UK Payment Protection Insurance (PPI) Scandal
“ Enron’s Open Secrets” by Malcolm Gladwell
Triumph of the Optimists by Elroy Dimson, Paul Marsh and Mike Staunton
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US listeners: get your free trial and audio book at Audible
UK listeners: get your free trial and audio book at Audible
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Like what you heard?
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Drop us a note: allthingsrisk@gmail.com
Today, it’s all about creativity, design, marketing and careers. That, and authenticity, a now over-used word. In the past, we’ve talked about “inauthentic authenticity” – the appearance of authenticity to create some type of one-sided sales or marketing benefit. This is a practice that one sees regularly online which can create risks and unintended consequences – for all sides in the equation. We need more people who speak their minds and are genuine.
My guest today is exactly that. Meet Michael MidKnight. Michael is a Design and Marketing Consultant with his brand Mik Tek Studios, Career Advocate with his series Recruitamentary and a fellow podcast host. We cover the art of marketing, value of genuine authenticity and enjoy the rich depths and importance of storytelling for an experience - Lion King references included!
If Marketing, Sales, Design, Creative Thinking or a wide range of humorous takes on his industry experience as a whole, this would be the episode for you worth listening to. And even if it isn’t there are loads of great insights applicable to many other aspects of our lives.
Show notes:
Mik Tek Studios: www.miktek.tv
LinkedIn: www.linkedin.com/in/michaelmidknight
YouTube: www.youtube.com/miktekstudios
Mik Tek Studios on Facebook: www.facebook.com/miktekstudios
Instagram: www.instagram.com/miktekstudios
Twitter: www.twitter.com/miktekstudios
Mik Tek Studios Podcast is on iTunes, SoundCloud and Google Play, search for ‘miktekstudios’)
Recruitamentary:
website: www.recruitamentary.com
YouTube: www.youtube.com/recruitamentary
Facebook: www.facebook.com/recruitamentary
Twitter: www.twitter.com/recruitamentary
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Get your free audio book and 30 day free trial at Audible:
US listeners: www.audibletrial.com/allthingsrisk
UK listeners: get yours here
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Like what you heard?
Subscribe and/or leave a rating and review on iTunes: http://apple.co/1PjLmK
Subscribe on Stitcher: http://www.stitcher.com/podcast/all-things-risk/the-all-things-risk-podcast
Subscribe on Soundcloud: https://soundcloud.com/ben-cattaneo
Follow the podcast on Twitter: https://twitter.com/RiskThings
Drop us a note: allthingsrisk@gmail.com