BFA #022 | 2 Harsh Truths

The Unsettling View of Fraud Fighters

What's happening Fraud Fighters?

I needed to tell you before you found out the hard way. You see, knowledge isn't just power. It's armor against the world's harsh realities.

So brace yourself. You need to hear these 2 harsh truths that every fraud fighter should be aware of

Let's investigate further.

Read Time: ~3.9 Minutes

The 2 Harsh Truths

I totally get it - you've thrown your heart and soul into your work. It's not just a job, it's who you are. You've spent enough weekends brainstorming to last a lifetime.

This isn't just about getting a paycheck. It's about pouring every bit of your dedication and determination into something you believe in.

So, of course, when you feel like you're being pushed out or overlooked, it hits hard. You're not just losing a role. It feels like a part of your identity is being stripped away.

Worse, you start questioning everything - the late nights, the sacrificed weekends, the countless hours.

You ask, "Was it worth it?"

The trust you've put in the organization begins to crumble, and it feels like you're standing on shaky ground.

So brace yourself. You need to hear these 2 harsh truths that every fraud fighter should be aware of

  1. You are just a number

  2. You are replaceable

Now, don't get me wrong. This isn't what I believe about you. But it's unfortunate many businesses feel this way about fraud fighters.

I needed to tell you before you found out the hard way. You see, knowledge isn't just power. It's armor against the world's harsh realities.

And in this case, knowing these bitter truths arms you against the unwelcome surprises the corporate world may throw your way.

This isn't the end, and you aren't powerless.

Quite the opposite. Now that you know the realities, you can use them. You can strategize, prepare, and combat the system.

But it won’t change by itself.

Navigating Complex Conversations

Before we find a path to a solution, it's crucial to understand how we got here. Throughout my career, I've encountered many difficult (even awkward) situations, but a few stand out.

Here are some 3 themes from convos that have left an impact on me:

Fraud Fighters are Disposable - Fraud Fighters become faceless entries on the balance sheet, easily targeted in cost cutting. This numbers driven view not only undermines fraud fighters but also risks the trust and reputation pillars upon which the business has built.

Prevention is Overrated - Fueled by a 'growth at all costs' mentality, sparks a provocative debate: Is the hefty investment in fraud prevention a vital shield or an unnecessary obstacle? Some leaders argue that pursuing rapid growth demands pouring resources into revenue-generating activities, suggesting that while a comprehensive fraud prevention team could mitigate risk, it could also drain the very resources that fuel growth.

AI and Automation will Eliminate Fraud - As tech grows, some leaders might believe that human fraud fighters will become obsolete. They may argue we're increasingly capable of detecting and preventing fraudulent activities. These models will work round-the-clock without any human biases or errors. They are not only more efficient but also more cost-effective in the long run.

Question: How often does this happen to you?

Have you ever found yourself in the midst of a conversation, five minutes deep, where you're left confused, struggling to understand why you’re in the middle of conversation?

It feels unsettling. As you try to make sense of the information being shared, you're left wondering:

What am I meant to do with all this?

Your mind works overtime, wasting precious minutes. The toll it takes on your productivity and mental clarity is significant, highlighting the importance of clear, purposeful communication.

This is what leadership is thinking when they’re on the receiving end as you talk about the latest fraud spike.

Most leaders are running from meeting to meeting and constantly using their brain. Naturally, their brain gets tired.

Help them out by framing the conversation. Make it easy for them to understand your value.

Wouldn’t it be great if we could start conversations about large and complex topics in a way that was always clear and easy to understand?

Like fraud. Or your career.

KYS. KYA. KYM.

Using this framework can help make it easy for leadership to understand, decipher, and more importantly care about fraud.

Have Clarity - This is the first pillar in successfully communicating the importance of fraud fighters. Clarity in your message ensures that there's no ambiguity about your team's role. With the harsh truth of being perceived as just a number, a clear message delivers the unique value your team brings to the business, making it easier for leadership to understand your contributions.

Understand Your Audience - Recognizing the needs, concerns, and expectations of your audience - the leadership - helps tailor your message to their perspective. With the second harsh truth of being seen as replaceable, understanding your audience can help demonstrate why you and your expertise are vital.

Position Your Message/Value - The positioning of your message plays a crucial role in emphasizing your team's value, impact, and/or solution. Well-positioned messages take into account the audience's priorities, the company's broader goals, and industry trends. Showcasing how your team's work aligns with or supports growth strategies can be a microphone of the strategic importance of fraud fighters.

If you are telling someone about an issue or problem, what do you expect them to do with the information? You either need help, advice, someone to take action, or you are giving the other person a heads-up.

If you’ve followed these steps, but received a question like one of these

“Why are you telling me this?”

“Is there something you need me to do?”

“I’m not sure what to do with that information.”

You’re having trouble framing the conversation and delivering your key message. It’s going to be hard to overcome those 2 harsh truths.

Let’s break it down simply. How can you you use this framework today?

  1. Define the Topic

  2. Clarify the Intent

  3. Craft Concise Key Message

  4. Provide Supporting Evidence

  5. Conclude and Check Understanding

KYS. KYA. KYM.

See you again next Friday in your inbox.

​Brian

ps fraud loves acronyms. any guesses on what those acronyms stand for?

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