About Author Jack L. Hayes
Never before has the severity of business fraud and embezzlement reached the magnitude that it has today. Billions upon billions of dollars are lost annually to these crimes. Actual case histories and ongoing research shows that no type of operation is immune from internal business crime whether it be—the smallest little league operation or large multi-billion dollar corporation, medical facility or private practice, school or university, religious or non-profit organization, law enforcement or government agency.
After investigating and analyzing crimes against businesses for over forty years, Jack L. Hayes was able to identify a new, smarter, and more cost-effective way to prevent internal fraud within all types of business operations, and that’s what Business Fraud: From Trust to Betrayal is about! It is the first book of its kind that is written primarily for business owners, managers, supervisors and every person holding or preparing for a position of responsibility within ANY type of organization. This book is also a great learning tool for college students.
Highlights of Author Jack Hayes’ Qualifications and Expertise
Jack L. Hayes is an internationally recognized authority on business crime, an accomplished executive, and a highly experienced management consultant. This multilevel expertise has taught him to appreciate that there is a fine-line when it comes to intertwining any manager’s fraud prevention practices with those daily rigors and time constraints found within any business environment. One good example of this is while numerous anecdotes throughout the book demonstrate how various incidents of internal fraud and embezzlement can occur, Jack takes extreme care to ensure that only practical solutions that can be realistically carried out by management are included.
- Investigative expertise
Jack Hayes has investigated and helped to solve numerous business crimes where identifiable fraud and embezzlement losses ranged upward to $25 million. An accomplished investigator, his law enforcement and private sector investigative background is extensive and covers a period of 45 years.
- Interview and interrogation skills
As result of his interviewing and interrogation skills, he has served as a guest lecturer at the prestigious New York City Police Academy. In addition, Jack has conducted several series of interview and interrogation classes for security/loss prevention personnel within multiple organizations throughout the United States and Canada.
- Knowledge regarding methods/ways individuals steal
For over forty years, Jack Hayes has conducted extensive studies into how and why people steal from all types of businesses. During this period, he has interviewed literally hundreds of dishonest employees, white-collar criminals, vendors, shoplifters and sophisticated organized crime professionals. Examples of his unique “lessons learned” are throughout this book.
- Psychological research—measurement of a person’s propensity for dishonesty
In 1980, Jack was introduced to Dr. David J. Cherrington and his late brother, Dr. Owen J. Cherrington, both professors at Brigham Young University. The Cherrington’s were on the threshold of conducting psychological research relating to the measurement of a person’s propensity for dishonesty. This approach presented new research opportunities, and a partnership was formed with the Cherringtons. Jack brought to the table what he had learned about dishonesty in the workplace, and the Cherringtons did the same. This knowledge-sharing, and gathering and analyzing extensive psychological data relating to integrity testing of thousands of individuals revealed compelling evidence that various honesty and integrity factors can be accurately measured.
After studying a large sampling of “honesty testing” instruments over the years, Jack and Dr. David Cherrington formed the opinion that, although these psychological tests are not perfectly reliable, they are much more reliable than pre-employment interviews and generally about as reliable as other personnel tests.
- Theft survey—resource for statistical data and identification of anti-theft inadequacies
In 1988, Hayes International published its First Annual Retail Theft Survey. Over the years, these surveys have revealed that the number of actual internal theft apprehensions and dollars recovered have been incredible. For example, over a ten-year period (2000-2009) those companies surveyed reported 700,000 employee theft apprehensions. In addition, the survey’s findings also suggested that hiring processes are astonishingly inadequate. (Hayes International’s latest survey is available at hayesinternational.com)
Jack Hayes says, “This book reflects decades of real-life experiences and research, demonstrates where the greatest fraud risk are, explains why current antifraud methods are not nearly as effective as they should be, and most importantly, gives you seven easy steps to follow to make your business safe from internal financial time bombs. Furthermore, I am extremely confident that if you meticulously read chapters 1-15, accurately complete the Risk Assessment Survey, and follow the Preventive Management principles described in this book, you will dramatically reduce your operation’s risk of internal fraud and embezzlement.”
Bottom-line, You will find that the anti-fraud techniques and approaches described throughout this book differ greatly from those standards of internal fraud prevention commonly practiced in businesses today. Jack Hayes firmly believes that a significant amount of internal business fraud can be prevented—perhaps not totally eliminated—but easily prevented, and he feels it is important that he share his four decades of business crime research and knowledge with you.
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