Christopher Gandy, president of the International Association of Financial Crimes Investigators’ Nevada chapter

Leila Navidi

Christopher Gandy, president of the Nevada chapter of the International Association of Financial Crimes Investigators and vice president of financial crime investigations for Wells Fargo in Nevada, says the Internet has aided the proliferation of identity theft.

By Abigail Goldman (contact)

Thursday, Sept. 24, 2009 | 2 a.m.

Christopher Gandy shudders when he thinks of how easily people become victims of financial crime.

The former North Las Vegas police detective is president of the Nevada chapter of the International Association of Financial Crimes Investigators. In his four years as president, he’s encountered numerous businesses and individuals ensnared by fraud crimes that take years to untangle.

The association is a nonprofit organization made up of federal and local law enforcement as well as bank investigators — Gandy’s day job is vice president of financial crime investigations for Wells Fargo in Nevada — and other fraud experts. Together, they offer their services free to citizens and businesses who suspect they’re victims of fraud.

People are often referred to the association after the fact — once they’ve filed a police report — but Gandy hopes more businesses will ask for help and training before they open, to stop financial crimes before they start.

How has the economy affected financial crime?

Right now we have a unique situation with people out of work. I call it the Robin Hood effect — there are times when good people will do bad things to take care of their family, because they’re just trying to survive.

What is the biggest financial crime problem right now?

Identity theft is one of the fastest growing. It’s easier for me to use your credit than my own, if I’m a bad guy. Still, the No. 1 problem is probably ATM cards or credit cards being skimmed or used unlawfully. You feel like you’ve been violated when someone uses your personal information for their gain.

Do you often encounter sophisticated criminals running complicated scams?

We have schemes set up by organized rings of people, groups of people from different parts of the world. Sometimes money is being funneled overseas. We have several under investigation right now, but that’s all I can say.

How susceptible are we to being victims of financial crime?

There are all kinds of schemes that can happen. Business owners, too. If you don’t have checks and balances set up at your office, there are so many ways to be beat. You do an audit one day, and all the money is just gone.

Has technology made it easier or harder for criminals to commit financial fraud?

Easier. I think the computer is a monster that sits on our desks. Give me two hours and I could be 20 different people opening 20 different bank accounts. We need to have more security. We need to have someone police the Internet. There’s just so much fraud online.

What will the future of financial crime look like?

It’s all going to be paperless. I believe the day of the check is almost at an end. I wouldn’t be surprised if some day they do away with currency. I think one day there will be a card, with a chip, and inside that chip everything there is to know about you.