Archive for the ‘Beyond Fraud’ Category

20
Oct/10
13

Life Goals. Have Them? Get Them!

Some twenty-four years ago (oh my where has the time gone) I met me wife, and a short time thereafter we met a good friend who started talking to us about the importance of life goals – things we wanted to do in your life time.  He explained that individuals who have goals and actually write them down are statistically the ones who actually get things accomplished in life, and I believed him.  We started to think about the things we wanted to do in life, the things we wanted to experience, which I believe is different from the “bucket list” – the things you want to get accomplished before you die.

I started my list of what I call my life goals, and listed things (with the aid of my now wife)  we mutually wanted to do.  I documented my list, and over time I have added to it.

The most rewarding part of the process is when I look back at my list and mark off the things I actually set out to accomplish and completed.  I have had the fortune of accomplishing many of my initially listed items.  For example, I attended the Olympics, visited Carribean Islands, watched the ball drop in Times Square in New York City on New Years’ Eve, flown an airplane, obtained my EMT certification, achieved black belt in martial arts, went scuba diving, and as of last week went flying in a helicopter.

Over time I have added new goals to my original list, of which I have accomplished some of those as well.  I am an adjunct professor, I have been the keynote speaker at national conferences, and I have published three books (all in the last year).  I look back at my accomplishments and know it was attributable to the advice I received so long ago.

Remaining on my list are items including learning sign language, attending a major parade, visiting Hawaii, appearing on national television and being featured in a well-recognized magazine like Time or Wall Street Journal.  I know these may never happen, but if I don’t list them, they never likely will.

I often talk with students, mainly at the high school and college levels, but at times with younger students as well, and I encourage them to set themselves goals starting at an early age – goals that pertain to what they want to accomplish in their next five years.  I pass along the advice and wisdom I received which has really helped me accomplosh so much.

If as you are reading this you don’t have life goals set for yourself, take a few moments to think of the things you wish to do in life, the things you want to do with money no object, no matter how far away and how impractical they may be, and write out your list.  Post your list somewhere where you will see it every day, and you may just be surprised how well you do with your goals.

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15
Oct/10
12

An Appropriate Sentence Long Over Due For Financial Crimes

Spending months of time, energy and funds investigating an employee theft and embezzlement, only to have the individual responsible receive a non-jail sentence, can be very frustrating to the victim of the crime.  Often the decision to pursue criminal charges is based in part on the likelihood of whether the police will investigate it, the prosecutor will prosecute it, and the likely sentence the suspect could receive.  More often the accused offers to settle the matter in lieu of being arrested, and based on the jurisdiction and many other factors, it is in the victim’s best interest to collect their restitution and forego the criminal charges.

It is not uncommon to hear that the jails have limited capacity, and the space is needed to incarcerate the violent offenders.  However, the message has been out for some time that financial crime suspects may never see the inside of a jail cell, which could play a large part in why we are seeing so many of these crimes with the amounts stolen reaching staggering amounts.

One judge in Houston, Texas delivered a sentence to Daniel Mireles this past week after being found guilty of stealing more than $250,00, a sentence I have been waiting to see for years.  Mr. Mireles has to walk the busy streets of Houston one weekend day each week holding a sign acknowledging he stole $250,000 – one day a week for SIX years.

Mr. Mireles’ wife, Eloise, was also convicted and is serving six months.  Once she completes her jail sentence, she will also have to walk with her sign for SIX years.

Another interesting element to this story is that the Mireles’ stole the funds from the Crime Victims’ Funds, where Mrs. Mireles worked in the district attorney’s office.

Cruel and unusual punishment – holding a lightweight sign out in public in lieu of being jailed – I applaud Judge Fine for trying to start curbing the growing trend of employees stealing from their employers.

Here’s a link to the story:  http://www.dailymail.co.uk/news/article-1319706/Judge-orders-Daniel-Mireles-wear-thief-sign-SIX-years-Houston.html?ito=feeds-newsxml

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4
Oct/10
40

Another day… another friend is the victim of a financial crime.

Another day, another friend with a personal financial crisis.  The latest, a friend who had unauthorized activity perpetrated through illegal access to his debit card.   I received this latest request for advice and assistance from a friend through FaceBook, of all places.    Turns out someone obtained his debit card information, and withdrew the funds from his checking account.  He was already working with the banks to get his funds returned, as well as obtain a new debit card.
My advice – loose the debit card. Don’t let them send you a new one.
Instead, have them issue you a traditional ATM card, and use the ATM card along with a traditional credit card going forward.  When (and I meant to say “when” and not “if”) someone gains access in the future, the most they can do is charge things on his credit card that he will never pay.  He will dispute the charges, get a new card, and otherwise have no financial loss.  With the ATM card, he can gain access to funds when needed, but without the PIN, the perpetrators have nothing.  Even with the PIN his exposure is the maximum an ATM will allow to be withdrawn, typically $500.
Minimize your risks to these issues which are beyond your control by eliminating your debit card.  It will better protect your bank balance as well as minimize any negative impact to your credit report.

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