(WBIR - Knoxville) The Federal Bureau of Investigation wants people in East Tennessee to know all the tricks of the trade to prevent becoming a victim of fraud. That's why the bureau invited a famous swindler-turned-consultant to speak in Knoxville on Thursday.
Frank Abagnale was the keynote speaker at the "Fraudapalooza" seminar hosted by the FBI. Abagnale led a life of lies as a teenage boy with tales of fraud so scintillating they shined on the silver screen in Steven Spielberg's "Catch Me If You Can."
"First of all, I've received no money for movies, books, television, or anything else based on my relationship with the government," said Abagnale. "I would have preferred not to have a movie made about my life, but it wasn't my choice. I was fortunate it was Stephen Spielberg who made the movie, but the movie has really done nothing for my career."
Abagnale described the movie as a "burden" that has made a few years of illegal activity the focus of his life.
"I served my time in prison. I repaid all of the money. Now everybody knows who I am, everybody approaches me about what I did 50 years ago as a teenage boy," said Abagnale.
While nobody is chasing Abagnale anymore, the man Leonardo DiCaprio played in the movie is still a wanted man on the speaker circuit. He regularly attends FBI events and speaks about identity theft, cyber-crime, and embezzlement.
"I'm a firm believer that education is the most powerful tool to fighting crime," said Abagnale. "Today I get my thrill from helping people know how not to become a victim and help people. I've been teaching at the FBI academy for 40 years, so of course I have had to evolve with the times and keep up with modern techniques. It's 4,000 times easier today than when I did it. To print checks 40 years ago, you needed a million dollar printing press. Today you just need a laptop."
Abagnale's advice for protecting your identity starts with shredding any financial statements you throw away.
"Something that may seem worthless to you may have great value to someone else," said Abagnale.
Abagnale said he would not write a lot of checks in today's environment.
"The check has your name and address, the bank's name and address, your account number, your routing number into the account, and your signature on the account at the bank. They've written your Tennessee drivers license and your date of birth," said Abagnale. "Anyone who sees that check can wire money out of your bank account or order checks."
Debit cards are something Abagnale advises people to avoid completely.
"I don't use a debit card. I've never owned one. I've never allowed my children to have one," said Abagnale. "When you use a debit card, you access money in your account. So when you have a breach at Home Depot or Target, the people who had a credit card simply got a new credit card. The people who had a debit card waited three to four months to get their money back."
Abagnale said the safest form of payment is credit card.
"If someone were to get my card number and charge a million dollars on my card, by federal law my liability is zero," said Abagnale. "If you use your credit card and pay it off every month, you also improve your credit score. If you use a debit card for the next 50 years, it will have no positive impact on your credit."
While Abagnale understands people remain enthralled with his days as a fugitive committing fraud, his pride comes from his life after crime.
"The fact that I've been married to my one and only wife for 39 years. I raised three great sons, one who became an FBI agent. I've taught at the FBI academy for 40 years. What I've done with my career, I look at those as the positive things in my life. Not the negative things of what I did some 50 years ago," said Abagnale.
Reporter's Note: See the full interview with Frank Abagnale in the video player below. If the video player does not show up, use this direct link to view the video.
