- Usually, we spend 99% of our time assessing the merits of an opportunity but 1% of our time thinking if what we see is real. The fraudster spends 100% of their time staying two steps ahead of you.
- Not all frauds started that way. Some became frauds to cover up losses.
Ted Seides, founder of the Capital Allocators podcast, and founder, president and co-CIO of Protégé Partners LLC, shared with us why it is so challenging to detect fraud. There are a few main challenges: