3 ms·
Aside from this article (paywalled), I liked learning from some story that certain financial / bank employees are required by the Fed or SEC to go on vacation a
by supernova87a 7y ago
Aside from this article (paywalled), I liked learning from some story that certain financial / bank employees are required by the Fed or SEC to go on vacation and not have access to their email or phone for a certain number of contiguous days every year. Is this correct -- was it something to do with the Madoff scandal?
As I understood it, the idea was that to perpetuate a financial fraud, a criminal relies on being present and able to intercept / continue feeding fraudulent information to others and not be discovered. Or maintaining some fraudulent trading position.
The tactic I liked about this was the thinking about what's required to perpetrate a fraud, and make the conditions difficult or impossible for someone to go undetected.
Rather than retroactively finding the fraud and just trying to detect it better when it has already happened.
- mennis16 7y agoThis was definitely a thing pre-Madoff even, my dad had to do this for two weeks every year as a foreign exchange trader.