The Difficulty of Committing Fraud and Safeguards in the Banking Industry

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This chapter discusses the challenges of committing fraud in the banking industry due to the stringent safeguards and requirements set up by banks and financial institutions. It highlights the checks and documentation that individuals have to provide when obtaining loans or mortgages, emphasizing that misrepresentation constitutes fraud.

Matthew Cox is a former con man who served 13 years in federal prison for bank fraud, mortgage fraud, and identity theft. He is the author of many books, including his memoir Shark in the Housing Pool, and runs the YouTube channel Inside True Crime. Please support this podcast by checking out our sponsors:
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Transcript: https://lexfridman.com/matthew-cox-transcript

EPISODE LINKS:
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Matthew’s Art Instagram: https://instagram.com/coxpopart
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Shark in the Housing Pool (book): https://amzn.to/3S52EEy

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OUTLINE:
Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) – Introduction
(08:43) – Mortgage fraud
(23:32) – Creating fake people
(57:17) – Arrested by FBI
(1:14:08) – Omerta: Code of silence
(1:36:26) – Fake ID’s
(2:05:48) – Getting caught
(2:19:12) – Going on the run from FBI
(2:30:54) – Identity theft
(2:51:34) – More scams
(3:03:23) – FBI Most Wanted
(3:05:51) – Close calls
(3:36:46) – Break up with Becky
(3:41:26) – Calling parents
(3:43:25) – Calling FBI
(3:49:06) – Running from cops
(4:10:56) – Getting arrested
(4:26:21) – Snitching
(4:42:35) – Prison
(5:00:08) – War dogs
(5:06:50) – Frank Amodeo
(5:42:21) – Freedom
(5:53:15) – Family
(5:59:19) – Regret