Frank Abagnale is best known for being portrayed by Leonardo Dicaprio in Catch Me If You Can, the true story of how he defrauded millions of dollars while impersonating airline pilots, doctors, and lawyers, all before the age of 21. Abagnale is a conman's conman, a true master of manipulation and exploitation. Luckily for the public, after serving his time in prison in three countries, Abagnale went straight, and has worked as a security consultant for law enforcement and private firms for the last few decades. This book is his attempt to educate laymen about various cons and how to avoid getting taken in by them.
The best part of this book is the explanation of all the creative ways that people have invented to defraud one another. My favorite was the guy who registered an 847 number (like a 900 number but less recognizable) for $35 a minute, then would go through the yellow pages, leaving messages with businesses for them to call him back at his 847 number. He made over a million dollars with this simple scam, and never got caught or indicted. But most of the scams are far less imaginative and mostly have to do with getting ahold of someone's checkbook or altering a check they wrote. The US is the only western country that still relies on checks for business, and check fraud dwarfs all other forms. The chapter on embezzlement was also fascinating, if for no other reason than that most embezzlers run their schemes for years without anyone suspecting a thing. White-collar crime is incredibly easy to commit, and isn't punished at near the same level as other crimes (e.g. a bank robbery, which nets a paltry $5,000 on average, gets you more time in jail than stealing $1M from your employer).
Much of the book is rather dry, consisting of common-sense advice to avoid these scams. Most of it boils down to: don't reveal personal information about yourself, and only do business with reputable people you know if you plan to pay with check or card. Even then, review your statements every month to make sure you won't be held liable if someone skimmed your card number.
Abagnale is an old-school con artist, so it's no surprise that digital payment and the internet in particular leave such a bad taste in his mouth. He's badly out of his depth in his chapters addressing these topics, and it hurts the overall quality of the book. To be fair to him, he was writing at a time when online fraud was much more common, when automated fraud detection on the part of credit companies was in its infancy. But when he makes indefensible statements to the effect that, as the number of online transactions grows it will become harder for credit agencies to spot fraud (the opposite is true), he reveals his fundamental ignorance on the topic.
Overall The Art of the Steal is a quick and entertaining read, written in a straightforward and engaging style. I wouldn't recommend it as a personal security manual, but for someone interested in white collar crime and con artists in general, it's a fun read.