The Art Of The Steal: How To Protect Yourself And Your Business From Fraud, America's #1 Crime (2002) - Plot & Excerpts
Frank Abagnale is best known for being portrayed by Leonardo Dicaprio in Catch Me If You Can, the true story of how he defrauded millions of dollars while impersonating airline pilots, doctors, and lawyers, all before the age of 21. Abagnale is a conman's conman, a true master of manipulation and exploitation. Luckily for the public, after serving his time in prison in three countries, Abagnale went straight, and has worked as a security consultant for law enforcement and private firms for the last few decades. This book is his attempt to educate laymen about various cons and how to avoid getting taken in by them.The best part of this book is the explanation of all the creative ways that people have invented to defraud one another. My favorite was the guy who registered an 847 number (like a 900 number but less recognizable) for $35 a minute, then would go through the yellow pages, leaving messages with businesses for them to call him back at his 847 number. He made over a million dollars with this simple scam, and never got caught or indicted. But most of the scams are far less imaginative and mostly have to do with getting ahold of someone's checkbook or altering a check they wrote. The US is the only western country that still relies on checks for business, and check fraud dwarfs all other forms. The chapter on embezzlement was also fascinating, if for no other reason than that most embezzlers run their schemes for years without anyone suspecting a thing. White-collar crime is incredibly easy to commit, and isn't punished at near the same level as other crimes (e.g. a bank robbery, which nets a paltry $5,000 on average, gets you more time in jail than stealing $1M from your employer).Much of the book is rather dry, consisting of common-sense advice to avoid these scams. Most of it boils down to: don't reveal personal information about yourself, and only do business with reputable people you know if you plan to pay with check or card. Even then, review your statements every month to make sure you won't be held liable if someone skimmed your card number.Abagnale is an old-school con artist, so it's no surprise that digital payment and the internet in particular leave such a bad taste in his mouth. He's badly out of his depth in his chapters addressing these topics, and it hurts the overall quality of the book. To be fair to him, he was writing at a time when online fraud was much more common, when automated fraud detection on the part of credit companies was in its infancy. But when he makes indefensible statements to the effect that, as the number of online transactions grows it will become harder for credit agencies to spot fraud (the opposite is true), he reveals his fundamental ignorance on the topic.Overall The Art of the Steal is a quick and entertaining read, written in a straightforward and engaging style. I wouldn't recommend it as a personal security manual, but for someone interested in white collar crime and con artists in general, it's a fun read.
Each of the following statements represents a possible avenue for an identity thief.I receive several offers of pre-approved credit every week. (5 points)I do not shred the pre-approved credit offers I receive (cross-cut shredder preferred) before putting them in the trash. (5 points)I carry my Social Security card in my wallet. (10 points)I use a computer and do not have up-to-date anti-virus, anti-spyware, and firewall protection. (10 points) I do not believe someone would break into my house to steal my personal information. (10 points)I have not ordered a copy of my credit reports for at least 2 years. (20 points)I use an unlocked, open box at work or at my home to drop off my outgoing mail. (10 points)I do not have a P.O. Box or a locked, secured mailbox. (5 points)I carry my military ID in my wallet at all times. (It may display my SSN.) (10 points)I do not shred my banking and credit information, using a cross-cut “confetti” shredder, when I throw it in the trash. (10 points)I throw away old credit and debit cards without shredding or cutting them up. (5 points)I use an ATM machine and do not examine it for signs of tampering. (5 points)I provide my Social Security number (SSN) whenever asked, without asking why it is needed and how it will be safeguarded. (10 points)Add 5 points if you provide it orally without checking to see who might be listening nearby.I respond to unsolicited email messages that appear to be from my bank or credit card company. (10 points)I leave my purse or wallet in my car. (10 points)I have my driver's license number and/or SSN printed on my personal checks. (10 points)I carry my Medicare card in my wallet at all times. (It displays my SSN.) (10 points)I do not believe that people would root around in my trash looking for credit or financial information or for documents containing my SSN. (10 points)I do not verify that all financial (credit card, debit card, checking) statements are accurate monthly. (10 points)Understanding Your Score:100 + points - Recent surveys* indicate that 8-9 million people are victims of ID theft each year. You are at high risk. We recommend you purchase a cross-cut paper shredder, become more security-aware in document handling, and start to question why people need your personal data.50-99 points - Your odds of being victimized are about average.0-49 points - Congratulations. You have a high "IQ."
What do You think about The Art Of The Steal: How To Protect Yourself And Your Business From Fraud, America's #1 Crime (2002)?
What a ride! I’m shocked and appalled at the incidence of thievery and deception out there, and it is utterly amazing how easily it can all take place. Frank Abagnale is the author of The Art of the Steal, and you may remember him as the person Catch Me If You Can was based upon. What else should an expert conman do after turning straight? Why, provide information on how to catch guys like him of course. Clearly, Abagnale is a very crafty and intelligent man for all of the shenanigans that he wa
—Peachy
Frank W. Abagnale, former con man turned fraud expert for the FBI, cautions readers against common scams, and educates them about ways to prevent identity theft. Who better to share what to watch out for than someone who himself managed to pull off feats of fraud as a young man? Good reading. The only drawback is that the book was published in 2001, and that technology has, of course, changed since that time. However, Abagnale was on the ball for that time and included the latest advances in his tips. Still very much applicable today.
—Mary
This is the second book by Frank Abagnale I have read, behind the more well-known Catch Me If You Can, which was turned into the Leonardo DiCaprio movie. This book is his attempt to educate the people of the world on how they are likely to be defrauded and swindled by people much like himself in his youthHe starts out with the very personal story of a woman who has had their identity stolen by someone who has gone on to make her life a living hell by running up, and then ruining her credit rating. He will go through a wide history of the last hundred years, before returning to the story of this woman at the end, in his discussion of identity theft, which he believes is the crime of the future.While he does bring in his own experiences, both as a conman and as a consultant who now assists crime agencies and corporations in improving and evaluating their security measures, most of the book is devoted to a litany of anecdotes and examples of the range of cons and frauds which are perpetrated on the largely-unwary and uncomprehending public. I must confess that there is a certain amount of disingenuousness in a former conman essentially lecturing his fellow conmen on their misdeeds, and one must read the book with a grain of salt. Near the beginning he recounts how - after being released from jail - he struggled to find steady work, and seemed to be stymied at every turn when someone found out about his past. One might read this as a 'poor me' rhetoric. This is in stark contrast to his commentary later in the book against people hiring criminals, and doing background checks on any and all employees.Although the book was published in 2002, and therefore predates many of the technological advances which have taken place in terms of the internet, his commentary on the possibilities and dangers of the future are fair warning for any who would care to listen. It is less autobiographical than Catch Me If You Can, but there is an undeniable flavour of Frank throughout the book. It is one thing to see people suffering at the hands of criminals on the news, but to understand the ins and outs of the mindset of criminals certainly brings things into a new light.A very interesting read.
—Dave
