Lying for Money

In 'Lying for Money,' Dan Davies delves into the world of financial fraud, explaining how such crimes work by manipulating institutional psychology.

The book categorizes frauds into four main types: long firm, counterfeiting, control fraud, and market crimes.

Davies uses historical and contemporary examples, such as the Great Salad Oil swindle and the Theranos scandal, to illustrate how these frauds operate and how they shape the development of the modern world economy.

The book emphasizes the systemic weaknesses that fraudsters exploit and the importance of maintaining a skeptical approach to unusually rapid growth.