The Fraud Triangle and the Financial Services Industry

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A member of the Center for Ethics Advisory Board recently sent me an excellent link to a TED talk on the Fraud Triangle on YouTube. While the Fraud Triangle is well-known concept in the accounting industry, I have not seen it used to describe acts of fraud in the financial services industry and I thought it would be interesting to take a closer look. What I discovered is that looking at the Fraud Triangle as an explanatory tool can help to account for the incidences of fraud in our industry that many practitioners and commentators have witnessed.