PHOENIX, Aug. 2 (UPI) -- Many forensic accountants and fraud examiners across the United States report brisk business during the economic slump.
The Association of Fraud Examiners said more than half its members report that fraud -- or at least fraud that has been uncovered -- has increased, The Arizona Republic reported Saturday.
"Whenever the economy declines, you see a lot of fraud cases exposed," said ACFE President James Ratley in Houston. "When businesses see sales and revenue start to decline, some executives will cross the line."
Bernard Madoff, architect of the largest Ponzi scheme in U.S. history is a classic example. Madoff, now serving a 150-year prison sentence, was able to cover his tracks for years until investors began trying to take money out of his business faster than he could bring new money in.
Joe Epps, a forensic accountant in Scottsdale, Ariz., said he started out as an ordinary accountant and "absolutely hated it." Then he discovered his current job.
"Every day I go to work and I'm excited to get here and see what's going to happen today," he said.
