Ever wonder what it takes to scam the state lottery? Terry Rich joins us on the podcast this week to discuss fraud prevention in small businesses & other organizations. Terry is the former CEO of the Iowa lottery, and helped uncover a multi-million-dollar fraud before it was paid out.
[02:35] Terry’s Story – Terry begins the conversation by sharing his backstory and how he got to where he is today .
[09:46] Underlying Reason –Terry dives deep into three key reasons why people commit fraud.
[13:19] Remedies – Terry gives us a fraud prevention overview and shares his thoughts on how to identify fraudulent activities, deal with scammers, and ultimately avoid becoming victims.
[17:02] Iowa Lottery Fraud – Grant and Terry discuss the fascinating story of how Terry resolved the largest lottery fraud in the United States.
[38:48] Adjustments – Terry discusses the improvements made after the fraud was discovered and addressed.
[48:25] Entrepreneurial Spirit and Creativity – Terry explains how he preserves entrepreneurial spirit and creativity.
Connect with Terry:
Mentioned in the Episode:
Ep #117 – A Top Economist’s Take on Personal Finance With Dr. Laurence Kotlikoff:
The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life: Before 8AM:
Iowa Lottery Fraud: