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The scam well has apparently run dry. Con artists that lack the scope to pull off a Ponzi or boiler room plot are using the Sarbanes-Oxley Act to dupe unsuspecting compliance managers.

A grafter, claiming to be a known FASB staffer, is preying on companies in an attempt to get them to purchase Sarbox compliance books, says the Financial Accounting Foundation, the parent organization of the Financial Accounting Standards Board. According to a FAF official, a handful of public companies received phone calls recently from a bogus salesperson claiming to be the staffer. During the calls, the salesperson insists that companies are obligated, by law, to purchase the Sarbox compliance books that are being offered.

CFO: The Sarbox Scam