Twitter Proves the Importance of User Trust + New Online Fraud Threats

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In the last 2 weeks, the world has watched major changes at Twitter under the new ownership of Elon Musk occur rapidly. The biggest cause of these rapid changes was a loss of trust in the platform by its users. Billions of dollars were lost in advertising revenue, fake accounts were authenticated & caused issues of ranging severity, and over 1/2 of Twitter's 7500 employees are now unemployed.

Twitter has taught the tech world that they should never (again) undervalue the stability and consistency of Trust & Safety teams. Content moderation, payment acceptance, and fraud/identity all played major roles in the rapid downfall of this company, and on today's episode, Karisse is dissecting it all to explain what went wrong and why.

Also in this episode: New fraud trends impacting online retailers, Transunion reported a data breach to the state of Massachusettes (no details on numbers yet), and the impacts on the tech world of all of the other layoffs at large companies such as Meta, Stripe, and Chime.

On Thursday's episode, crypto compliance expert Stephen Sargeant will be joining Fraudology to talk about the rapid demise of crypto exchange FTX. Never a dull moment in the online fraud world!

Fraudology is hosted by Karisse Hendrick, a fraud fighter with decades of experience advising hundreds of the biggest ecommerce companies in the world on fraud, chargebacks, and other forms of abuse impacting a company's bottom line.

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She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.