Fraudology Podcast with Karisse Hendrick

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai Doriel Abrahams, the head of Risk for Forter US returns to answer listener questions after his last episode (April 27, 2023).Some of the questions covered topics like:The benefits & Risks of placing fraud prevention efforts pre- (bank) authorization vs. post- (bank) authorization. Is one better than the other? If so, why?The expensive risks of some 3DSecure strategies (such as: approving fraudulent orders + brand dilution, and/or still being placed on chargeback monitoring programs despite the fraud chargeback liability shift); but the benefits of strategic/dynamic 3DS in both the US and other markets such as Europe, India, and AustraliaDoriel was asked to share one of his fascinating case studies, and he walks us through the signals of a potential fraud scheme with unknowns intentions and what was discovered.He was also asked a specific question that put him on the spot to answer if Forter has changed over the last few years, and if/how they are different from others in the space.Beyond answering thoughtful questions from Fraudology listeners, listen in as two friends who are passionate about fighting fraud & supporting the fraud-fighting community, share their observations & appreciation of learning from each other. To connect with Doriel directly: https://www.linkedin.com/in/doriel-abrahams/For more information about the Impact conference mentioned in this episode: https://www.forter.com/impact/To sign up for the free micro course to "Measure What Matters", presented by the authors of O'Reilly Publishing's "Practical Fraud Prevention book", Gilit Saporta & Shoshana Maraney: https://www.forter.com/fraudology/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. Connect with her on LinkedIn She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai This is the 3rd (and final) episode in a row, focused on false declines/false positives, in e-commerce. The 1st episode on this topic provided some of the industry benchmarking data that will soon be released in the 1st Annual Fraudology Benchmarking Report, sponsored by Forter. Knowing that so many merchants not only don't measure their false decline rates, but a fair amount of them said they don't think it's a problem.The 2nd episode featured 6 fraud leaders for 5 name brand online retailers talking with each other about false positives/declines. Their importance, the considerations needed to keep approval rates & chargeback rates while balancing some of the hardest battles they've had to reduce these issuesOn today's episode, Karisse provides some of the more traditional ways online companies are measuring this important metrics, both traditionally, and she'll share some of the more innovative methods online merchants While this list isn't exhaustive, and you'll need to customize the right approach to your own business rules, these suggestions will provide different ways to consider measuring false declines in more systematic ways. This 3-part series on this topic has proven to be helpful & insightful to several listeners already, and this final episode is no exception. If you have any additional suggestions for & methods to start measuring & creating a feedback look for these orders, feel free to reach out via LinkedIn or email. 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. Connect with her on LinkedIn She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai In this episode of Fraudology, Karisse is joined by a group of 6 fraud leaders for 5 large retailer brands in the US, as they talk about their own experiences and challenges with false declines (aka: false positives or insults). On last Thursday's episode of Fraudology, Karisse shared the results from the soon-to-be-published Fraudology Benchmarking survey (Sponsored by Forter) about false positives. With only 57% of respondents even measuring false declines, and with 1/2 of the 43% who don't measure this important metric saying not only do they not measure it, they aren't worry about it, Karisse wanted to ask some of her favorite fraud-fighting merchants for their thoughts & experiences on this topic.Some of the topics discussed include: Why they're difficult to measure, but why they're also critical to understandThe impact to the business is greater for each transaction that is canceled in error, than the money saved by canceling orders that would become chargebacksSuggestions to provide feedback about missed fraud orders to manual review analysts in ways that could prevent another increase in false declines Why it's important to measure spikes in all metrics on a daily basis, and particularly how a spike in the daily auto-decline rate requires investigating to either identify a new spike in fraud attempts, or a spike in orders being declined unnecessarilyIt's not enough to measure your company's false decline rate, it's important to perform root causes analysis to determine how similar orders in the future can be identified and passed, instead of canceled. Because of the policies of the companies that these specific fraud leaders work for, they are anonymous on this episode. Initials were assigned at random to ensure their anonymity, so they could provide their accounts from the "front lines" on this topic that is often discussed "behind closed doors" among fraud leaders, like in this conversation. While we wish we could name the participants of this episode to give them the credit they deserve for being top leaders in online retail fraud prevention, we would like to give a big thank you to "D", "S", "B", "M", "P", and "C"!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. Connect with her on LinkedIn She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai The 1st Annual Fraudology Benchmarking Survey Report is going to be launched very soon! And Karisse thought that one particular section of the report needs to be talked about, even before the report is published. And that is: The results of the questions surrounding false declines/insult ratesIn this episode, Karisse will provide a deep dive into:Why false positives are difficult, but critical to measureThe industry's shocking (but not necessarily surprising) answers about measuring false declines, and how they measure themWhy having an industry average of false declines is a terrible idea; but measuring them internally is necessaryWhy false declines (especially in the e-commerce sector) have risen by a large margin over the last 12-18 monthsThe true cost & impact of each false decline, and why that should matter to you and your organizationIt seems like this topic is not discussed enough, or in enough detail for newer fraud leaders to understand why you can never assume that all transactions or accounts that your system or analysts are canceling are true 3rd party fraud. (And let's be honest, does your current provider want to help you identify your insult rate?) But, the cost of not measuring, analyzing, and implementing continual fraud system & process improvements to reduce the number of good customers you are essentially referring to your competitors for life, is too high to ignore.Next week's Thursday episode, Karisse will talk about the HOW. Now that you know it's critical not allow "perfect to be the enemy of the good" when it comes to measuring false declines, and you've heard how the bulk of the industry is measuring them now, Karisse will share a handful of innovative ways that some enterprise merchants have created a productized way to measure false positives, with little manual effort. 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. Connect with her on LinkedIn She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai This is the 200th episode of Fraudology! So, we decided to do something a little bit different. Instead of Karisse interviewing an awesome fraud-fighter, SHE'S in the "hot seat"! Karisse asked her friend, podcast producer, and a big reason for the long term success of Fraudology, Lucas Walker to join her on this side of the podcast to ask her anything, along with some questions sent in by listeners.In this conversation, Karisse shares why (and how) she got into fraud, why she stays, some of the unique aspects of this emerging industry, the biggest myths in online fraud prevention, and what she loves most about being "air support". Specific to Fraudology, she'll answer questions about her most memorable guests, a time she wanted to give up, what motivates her to keep going, and who in her "IRL" life surprised her the most by becoming a fan of Fraudology! She'll also share a few stories about some of the times that she's been blown away by the support of Fraudology fans (Aka: Fraudologists).We would have never made it to this milestone without any of the loyal, the sporadic, or the occasional Fraudology listeners, the interesting guests, or our exceptional sponsors! So, thank you!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. Connect with her on LinkedIn She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai Audience Requested Topic: In this episode of Fraudology, host Karisse Hendrick shares some of her best suggestions for using LinkedIn for professional development, with tips specific for online fraud-fighters.Whether your short term and/or long term career goals include finding a new job ASAP, down the line, connecting with peers, staying informed within the industry, or "building a personal brand", Karisse provides specific examples to help you achieve those goals. And, if her experiences are any indication, you'll probably receive a lot of unexpected blessings in the form of great friends and career opportunities. 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. Connect with her on LinkedIn She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai On this episode of Fraudology, host Karisse Hendrick provides some of the ways to identify connection requests or private messages from potential "pig-butcherers" on social media. By recognizing their characteristics, you can decline their requests & educate friends & family about these methods, as they're often on all public social media platforms. She then reads a report written by recent Fraudology guest, Assaf Kipnis, former Engineering manager at Facebook/Meta. Because Assaf has a little more free time, he decided to engage with a prospective pig butcherer when "she" reach out to him.What follows is a rare & interesting behind-the-scenes play-by-play of how these specific type of scams can build trust, create intrigue, and then run off with thousands of dollars per victim. By understanding the scam and how these scammers build a rapport, it may be easier to identify these fraud attacks targeting consumers sooner than after money has exchanged hands. To read along, or just to look up the (AI generated) pictures of "Tina", you can find Assaf's full report here:https://www.linkedin.com/pulse/pig-butchering-scam-victim-journey-analysis-assaf-kipnis%3FtrackingId=fLB5AJyealr8SUNfQMAUjg%253D%253D/?trackingId=fLB5AJyealr8SUNfQMAUjg%3D%3DFraudology 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. Connect with her on LinkedIn She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai On this episode of Fraudology, Karisse is joined by Jenna Posner, Chief Digital Officer of Snipes USA. While most guests on Fraudology are primarily focused on fraud prevention or Trust & Safety, Jenna is in the C-suite, responsible for a much bigger picture that includes sales, marketing, and the entire P &L of Snipes' US e-commerce channel. So, why would someone who has spent their entire career focused on sales and growth care about online fraud?Jenna will answer that question brilliantly. While also talking about:The unique world of hype-selling, especially in sneakers & streetwear, and the high cost to revenue & customer loyalty of relying on a fraud provider that isn't equipped to accurately identify good customers or risky behaviors within millisecondsWhy, despite overseeing the entire e-commerce channel, replacing the existing fraud provider became Jenna's 1st priority; while this wasn't "sexy", the night & day difference, and the returns on that decision gained her a lot of momentum to continue replacing & upgrading technology throughout the businessHow & why Jenna chose the solution that she did for their business, and several of the ways that understanding technology & how it's utilized allowed her to identify an outlier that approached the issue differently, and with more of a focus on increasing sales than only preventing fraudLearn from some of the ways that Jenna talks about the impact and value of a strong fraud strategy on the "big picture" and on overall business goals like building a reliable brand, increasing customer loyalty, and increasing revenue opportunities, to be inspired the next time you're speaking to a business leader within your organizationTo connect with Jenna Posner (No solicitations please!): https://www.linkedin.com/in/jennaflatemanposner/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. Connect with her on LinkedIn She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai In this episode of Fraudology, Karisse is joined once again by Assaf Kipnis, former Engineering Manager for Integrity Investigations at Meta (previously Facebook). For the 2nd half of this informative conversation, Assaf provides examples of how his team studied & identified the TTPs (Tactics, Techniques, and Procedures) of some of the most complex & pervasion threats to integrity he & his team discovered & dismantled over the last several years of his career. -Within this episode, Assaf particularly focuses on two of the most innovative threat tactics targeting legitimate users that his team dealt with: Inauthentic Behavior & Financially motivated scams. Some of the topics discussed include:How identifying the motivation & behavior of two schemes that may, on the surface seem similar is critical to get to the root cause & ban the behavior in the future; example: "mis-" or "dis-information" versus "inauthentic behavior". While these terms are often generalized as the former, when it comes to eradicating the behavior, the details of the differences are critically importantThe potential financial & reputational damage of "inauthentic behavior", and how focusing on behavior versus content is key when identifying coordinated attacksSlight detour to discuss the privilege of having an in-house engineering team for integrity investigations, some tips for what to do if these types of issues can't be solved in-house, the importance of "babysitting" machine learning, and a few cautionary tips when considering new partners for 3rd party detection The most pervasive & impactful financially motivated scams targeting social media platforms & users including "pig-butchering" (crypto scams that often target western citizens; typically originating in SE Asia), investment scams, and impersonation scams; how understanding the role & perspective that social media companies have on this behavior can be helpful in identifying the same attackers manipulating multiple systems for one overall crimeThis conversation is incredibly fascinating! Especially if you've ever wondered how complex, yet sophisticated the Trust & Safety team at Meta needs to be to stay on the frontlines of identifying new attacks no one has seen before.To connect with Assaf Kipnis directly: https://www.linkedin.com/in/assafkipnis/Links to Additional Information Mentioned by Karisse in the Intro:The "Coordinated Inauthentic Behavior Report" published by Meta in October 2020: https://about.fb.com/wp-content/uploads/2020/10/Inauthentic-Behavior-Report-October-2020.pdfExamples of "Coordinated Inauthentic Behavior" that Assaf's team may have been responsible for detecting & disbanding:"Removing Coordinated Inauthentic Behavior from Iran, Russia, Macedonia, and Kosovo"; Released March 2019https://about.fb.com/news/2019/03/cib-iran-russia-macedonia-kosovo/"Removing Coordinated Inauthentic Behavior from Georgia, Vietnam, and the US"; released December 2019: https://about.fb.com/news/2019/12/removing-coordinated-inauthentic-behavior-from-georgia-vietnam-and-the-us/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. Connect with her on LinkedIn She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai In this episode of Fraudology, host Karisse Hendrick is joined by Assaf Kipnis, former Engineering Manager for Integrity Investigations at Meta (previously Facebook). After being part of the most recent round of layoffs at Meta, Assaf has a newfound understanding for the power of information sharing among peers within the greater Trust & Safety ecosystem. In addition to sharing more experiences & perspectives on LinkedIn, he also accepted Karisse's offer to talk a bit about his own experiences working within the Trust & Safety space for two of the largest social media platforms in the world. In the 1st half of their conversation, Assaf talked about some of the nuances & complexities within the department responsible for integrity, especially for those platforms that enable real-time user-generated content. (Beyond social media platforms, that can also include online companies with user reviews, sales listings, comments on articles, etc.)In the 1st of a 2-part episode conversation, Assaf shares his own experiences & perspectives on topics like:Some of the similarities & lessons that all departments within fraud or Trust & Safety, for all types of business models, can learn from each other. From methodologies to learning how similar the departments are from each other for personal development.Why integrity departments w/in Trust & Safety organizations are critical, especially for social media companies, and any other companies that allow real-time user-generated content on their platform (user reviews, sales listings, comments on articles/products, etc)How learning about a threat actor’s TTP (Threats, Tactics & Procedures) to identify ways to scale the detection of the behavior, and not just by identifying single accounts at a timeThe difference between mitigating harm (detecting/stopping true bad actors) and perpetrating harm (false positives)Be sure to subscribe to the Fraudology podcast to be alerted when the second half of Karisse's conversation with Assaf is released this Thursday, May 18, 2023. They'll deep dive into 2 types of scams or spam that Assaf dealt with in his career & the lessons that can be learned from them for all companies that are often utilized as a part of the "scam lifecycle" (something Ayelet Biger-Levin talked about on her episode 2 months ago).To follow and/or connect with Assaf on LinkedIn:https://www.linkedin.com/in/assafkipnis/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. Connect with her on LinkedIn She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.