From the editor's desk: A way to fail safely

Issue 4 2022 News

This edition of Hi-Tech Security Solutions has a rather sad story (http://www.securitysa.com/16667r), but also one of courage. We interviewed Chris Bentley, who was what we would call an insider risk, in his own company. After a distinguished career in the US Marines, Chris went back to civilian life and eventually launched his own company, which did well for a while.


Andrew Seldon, Editor

When the market turned, however, the company was in a bad situation and Chris was caught in a bind. How was he to keep going when revenues could not support the company? The article tells the story of how he ‘made a plan’ and juggled investors’ money around to keep going until his conscience caught up with him.

The honesty Chris exhibits is quite refreshing in a country where fraud and crime is a daily norm, and he admits that while cooking the books, he was hoping for that one big deal that would sort things out. It did not arrive and Chris blew the whistle on himself.

The saddest part of Chris’ story is the people who lost along with him. In most instances, we hear about fraud and the sentence the perpetrator received, but we do not hear about the other people. In this story, the investors (who were all friends or acquaintances) lost money, but his wife and kids also bore the brunt as they lost everything without knowing what was happening.

An important comment he made during the interview, which is noted in the article, is that people can always get themselves stuck in a corner and feel there is no other way to move forward than to commit fraud. In their minds, they are simply keeping the wheels turning until things turn around or that big deal comes in (of course, there are also those who know they are criminals and make no excuses for it until they are caught).

Their fraud continues to grow until they are caught, or as in the case of Chris, turn themself in. In many cases, except with career criminals, these incidents can be avoided if people simply have a safe way to fail. This should obviously not be their first option, but when they are stuck and have no other options to try, companies must have a process allowing the individual to fail and find assistance. An honest approach like this may allow someone else to come up with a plan that can save the day; at the very least it will avoid criminal charges and a ruined reputation.

The story shows businesses, investors and entrepreneurs that the ‘win-at-all-cost’ approach is fine and a good motivator up to a point, but eventually there are no more options (legal ones anyway), and the decision to fail must be made. Nobody wants to fail, but there are worse outcomes.


Credit(s)




Share this article:
Share via emailShare via LinkedInPrint this page



Further reading:

Cyber resilience is more than cybersecurity
Technews Publishing Cyber Security Integrated Solutions IT infrastructure
Hi-Tech Security Solutions held a round-table discussion focusing on cyber resilience and found that while the resilience discipline includes cybersecurity, it also goes much further.

Read more...
Johnny Aucamp joins iPulse exco
News
Johnny Aucamp has joined iPulse Systems as its chief sales officer (CSO), adding a massive boost to the executive team.

Read more...
From the editor's desk: Security and resilience
Technews Publishing News
It’s often said that South Africans are a resilient bunch, and history has proven this correct. When it comes to security, both cyber and physical, resilience is key to an effective defensive plan. ...

Read more...
Hikvision aims for solutions
Technews Publishing Hikvision South Africa Editor's Choice CCTV, Surveillance & Remote Monitoring News Integrated Solutions Conferences & Events
Hikvision recently held a roadshow titled Industry X, where the company highlighted its latest products and solutions, supported by partners and distributors.

Read more...
Olarm launches Pro 4G communicator
Olarm News Perimeter Security, Alarms & Intruder Detection Products
Olarm has announced an additional 4G/LTE version of its Olarm Pro smart communicator. It is aimed at areas suffering from poor connectivity by providing support for 4G, 2G and Wi-Fi networks.

Read more...
ADI Expo returns to South Africa
Technews Publishing ADI Global Distribution News
September saw the return of the ADI Expo to South Africa. The Johannesburg event was held at the Focus Rooms and the Durban event, two days later, at the Southern Sun Elangeni & Maharani.

Read more...
Technoswitch Awards dinner for 2022
Technews Publishing News Fire & Safety
Technoswitch hosted its fifth awards dinner at Montecasino in September, where customers and suppliers celebrated a year of success.

Read more...
Suprema joins FiRa Consortium
Suprema News Access Control & Identity Management
Suprema recently became a member of the FiRa Consortium, a consultative body that establishes standards for ultra-wideband (UWB) technology, the next generation of wireless communication.

Read more...
Reliable, low-maintenance video appliances
Technews Publishing Editor's Choice CCTV, Surveillance & Remote Monitoring News IT infrastructure Products
Symetrix, part of the Agera Group, has added the AES range of video recording servers, storage appliances and workstations to its portfolio.

Read more...
ZYTEQ Fire Engineering Summit 2022
ZYTEQ Fire Fire & Safety News
Cape Town-based ZYTEQ Fire hosted its inaugural Engineering Summit at the Commodore Hotel in Cape Town and the Leonardo Hotel in Sandton, Johannesburg.

Read more...