Fraudology Podcast with Karisse Hendrick

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai In this solo episode of Fraudology, host Karisse Hendrick starts out by providing the story behind the launch of her new company "Silver Bullet" and it's new fraud detection solution, "The Fraudinator". -Which was all an elaborate April Fool's prank (Shoutout to her partner-in-pranks, Frank McKenna). She felt bad for everyone who was legitimately "fooled", but what does that say about how buzzword-y some vendor marketing has gotten? And when will any of them learn that we know the term "Best in Class" is self-appointed & means nothing?She also gives a short pre-view on the topic of refund claims fraud in retail, and shares that she & next week's guest will be diving into the topic. She also talks a bit about the thousands of "methods" created & sold in criminal forums; including a recently discovered multi-platform exploit (fraud) of private label cards. If only cybercriminals would use their creativity & "problem-solving" skills to make the world a better place...To read the (VERY FAKE) announcement of the new company "Silver Bullet": https://frankonfraud.com/fraud-trends/release-industry-vet-launches-silver-bullet-fraudinator/To participate in the "Buzzword bracket" for fraud terms, download or print out the buzzword bracket in this LinkedIn post & return a picture or scan of who you chose to"win" each match to info@chargelyticsconsulting.com; 4 entries will be chosen randomly to win one of 4 prizes, all valued around $50 USD (can choose between items that can be shipped or emailed):https://www.linkedin.com/posts/karissehendrick_online-fraud-buzzword-bracket-2023-fraudology-activity-7047309778028527616Fraudology 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 Frank McKenna, the expert behind the popular "Frank on Fraud" blog and Chief Fraud Strategist at PointPredictive stops by to discuss a recent report published by Hindenberg research (A short-selling company intent on exposing fraud for corporate gains) that caused quite a few conversations & headlines within the online fraud world last week. While the report brings up some concerning allegations, Karisse & Frank dissect some of the claims to demonstrate that when it comes to casting blame for online fraud, it's not always black & white. Being accused of enabling fake accounts is nothing new in the tech world, especially when user numbers are often the biggest contributor to a company's valuation. But, where's the line between being "under attack" and "enabling fraud"?Cash App's meteoric rise was due to a rapid series of events including the ripple effects of Covid on the underbanked, massive amounts of fraud being stolen from government assistance programs, and the ease & use of Fintech technology vs. traditional banks. Did they ignore any regulations or simply not do what a group of people without fraud knowledge think they should have done? They also talk about how the type of platform Cash App may enable fraud by other companies' standards, but are they fraudulent to Cash App?What becomes clear in this case is that there may not be a clear "right" or "wrong"; and that more than one thing can be true at once. It can be true that a lot of fraud was caught & prevented (which would only be known internally), but it can also be true that there is always more that can be done to reduce the impact of fraud on an online business, from fake accounts to payment fraud to money laundering. It's also important to remember what every fraud-fighter with experience on "the frontlines" understands. That the battles they "fight" are not only coming from outside their company, but often they are "fighting" battles waged with them internally at the same time. And unlike the fight with cybercriminals, it often requires compromise between the altruistic ideals of the fraud/risk/Trust & Safety team and the demands/goals of the business. Ultimately, neither Frank nor Karisse can make an absolute decision of what should have or could have been/should be done based solely on this report. There just isn't enough data to form an opinion one way or another. But, the topics they discuss & examples they share from a few anonymous fraud-fighters' experiences throughout this episode are timely, and may just prepare you for an upcoming battle you're not aware of yet.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 It's been just 3 weeks since the sudden collapse of Silicon Valley Bank. In this solo episode of Fraudology, Karisse shares some of the opportunistic fraud methods deployed toward SVB banking clients, other banks & financial institutions welcoming new business bank accounts opened quickly, and schemes targeting the AP (Accounts Payable) departments of businesses of all sizes. She also explores the ways cybercriminals take advantage of the volume of new account openings, and while third-party fraud attack rates have returned to normal, synthetic fraud account opening attempts are still much higher since the SVP closure. This information is not only important for fraud fighters to continue to know what to be on the lookout for currently, and what to communicate to the appropriate teams w/i their companies who could be prime targets; but also to provide lessons that should be learned now, in case a similar bank collapse occurs again. Because, as she points out, history often has a way of repeating itself; so it's important to learn from the fraud ecosystem's response to this bank collapse to be prepared if/when something similarly occurs in the market.Articles referenced in this episode:"A Storm of Silicon Valley Bank Scams on Customers" - Frank on Fraudhttps://frankonfraud.com/fraud-trends/a-storm-of-silicon-valley-bank-scams-descends-on-customers/"SVB & Signature Bank Failures Cause Unusual Spikes in Fraud" - Socure Bloghttps://www.socure.com/blog/svb-and-signature-bank-failures-cause-unusual-spikes-in-fraud"What Every Fraud Executive Should Be Aware of in Times of Banking Turmoil" - Socure Bloghttps://www.socure.com/blog/what-every-fraud-executive-should-be-aware-of-in-times-of-banking-turmoilFraudology 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 gets to talk with someone she has long admired, but just got to meet for this episode, cybersecurity expert Laura Mather. Laura is a true "OG" in online fraud prevention, and she shares some crazy stories about the very beginning of internet fraud from her days as the first "Trust & Safety Policy" employee for eBay that helped both Karisse & Laura realize that while it doesn't always seem like it, the fight against online fraud has come a long way.Laura then shares how her PHD in Mathematics and her time as a mathematics researcher at the NSA (National Security Administration for the US) prepared her for her historic achievements while at eBay during its formative years. She then shares how that time, solving problems that most online companies hadn't faced yet, sparked the vision for Silvertail, the first fraud prevention company founded by a female. Silvertail's abilities were 1st of its kind in the fraud technology space, earning them hundreds of fast-growing start-ups in e-commerce beginning in 2008. In 2012, EMC, owned by RSA purchased Silvertail for an undisclosed sum, making it one of the first fraud technology vendors to be acquired. In this conversation, Laura shares several of the lessons gleaned from building, scaling, and selling a massive fraud technology company. As well as the added lessons she's learned about the reincarnation of even better, more effective solutions as technological capabilities continue to expand. Karisse & Laura both agree that "stagnant" detection technology is no way to compete with adversaries that are continually innovating and mention how they often get frustrated with companies that choose to double down on marketing ploys rather than product improvements. Since founding & exiting SilverTail, Laura has gone on to found a company focused on better understanding the root causes of DEI issues, and has been a board member & advisor to a handful of unique technology companies focused on providing cybersecurity & fraud prevention to their clients. One of those lucky technology companies that Laura advises is the current sponsor of Fraudology, Spec! Thanks to Spec for making this introduction..you all were right! Karisse & Laura became instant "fraud (prevention) friends"! To connect with Laura on Linkedin: https://www.linkedin.com/in/laura-mather/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 David Maimon is back (after Tuesday's episode) with even more insightful observations from his team's research of the cybercrime ecosystem. He first shares what the "Evidence Based Cybersecurity Research Group" at Georgia State University has observed about different groups & types of groups of cybercriminals. Including the online fraud methods, tools, and tactics that Russians cybercriminals prefer to the measurable impacts of the Russian Invasion of Ukraine on international cybercrime.David then talks about one of the biggest changes over the last 2-3 years within the online fraud ecosystem, especially those targeting US companies' fraud methods that have grown exponentially. -The biggest threats are no longer external. "The call is coming from inside the house." The fact that the biggest threat actors to online companies & financial institutions are within the borders, by US citizens makes the types of fraud & methods being used much harder to identify than foreign threats. Whether it's identity fraud using stolen or fraudulent identity documents (driver's licenses, passports, etc.), check fraud, or refund claims fraud, American cybercriminals have the most to gain from American businesses. -With very little, if any repercussions.After talking about some of the reasons why internal cybercrime is so much more difficult for fraud detection technology (especially detection technology that hasn't been updated in the last 2 years), Karisse & David talk about what the US government would need to do to even start to get a handle on these issues. But private companies can only do so much, no matter how much they spend to detect fraud; if changes aren't made to the low requirements to obtain identity documentation w/ a fake or stolen identity, there prevention efforts can only detect & prevent so much.David ends the episode with probably the most informative 15 minutes you will hear this week as he talks about the top cybercrime threats he & his team are seeing being discussed and shared within the "criminal underground". From check fraud no longer being preventable by using gel pens to the millions of fake identities that are quietly aging, these new threats remind all of us that this battle to make it more difficult for cyberfraud to be committed is endless; often with more battles lost than won. -But that also highlights the critical importance of collaboration & information sharing, like we do on Fraudology, more than ever.If you don't already follow David on LinkedIn, it will be the smartest decision you make all day: https://www.linkedin.com/in/david-maimon-29343632/To read some of the public research reports, and to learn more about the Evidence Based Cybersecurity Research Group at GSU: https://ebcs.gsu.edu/about/ 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, cybercrime expert & head of the Evidenced Based CyberSecurity Research Group at Georgia State University, David Maimon shares insights on collecting data from the darknet, identifying emerging trends systematically, and how the cybercrime industry has changed in the last 5 years.As he describes the various components within the world of cybercrime and online fraud, David starts making the comparison of this world to a deep underwater ecosystem. Throughout the conversation, he continues painting the picture of the factors that feed the continuous changes within the ecosystem, including how the ecosystem responds & adapts to antifraud measures in the industry. (This brilliant analogy might just replace Karisse's "infamous" "Zombie metaphor"!)David also talks about the importance of understanding the entire ecosystem of cybercrime in order to implement the right methods to identify & compete with the "parasites"; and he sheds light on some of the misconceptions surrounding fraud prevention. David & Karisse end this conversation by addressing the misconception that any fraud or identity solution will make a difference in the eco-system, or even on the "organism" you are charged with protecting. The truth is, in some cases, cybercriminals have their favorite fraud & identity detection solutions....and that's not good news for the fraud-fighting industry.Join David & Karisse for Part two of this enlightening conversation Thursday's episode (3-23-23). If you don't already follow David on LinkedIn, it will be the smartest decision you make all day: https://www.linkedin.com/in/david-maimon-29343632/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 the Fraudology Podcast, host Karisse Hendrick discusses the importance of having a relationship manager on your side and the true extent of corporate fraud, especially during economic downturns. Additionally, she touches on Facebook's impact on technology and how fraudsters present massive opportunities for them. Overall, the episode delves into the world of payment processing and fraud prevention.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 special live recording from the MRC event, Karisse Hendrick brings together a group of six merchant fraud fighters to share their experiences and insights from the "Superbowl" of fraud prevention (the annual MRC conference in Las Vegas) in the ever-evolving world of e-commerce. -AFTER 5 full days & nights of information-sharing, collaboration, and fun, these 7 fraud-fighters share some of the highlights of their week...until, admittedly, getting a little "hangry". 🙂Join us as we explore topics ranging from cross-pollination of information to fraud orchestration and dynamic routing for payments, all while keeping our focus on personalized customer experience and staying ahead of the competition. Don't miss out on this engaging and informative discussion! Special thanks to Dajana Gajic-Fisic of JD Sports NA, Alan Buck of Bed, Bath & Beyond, Andrew Austin of CarMax, and the three "secret guests" in the room who are contributed to this fun (and very real example of a) merchant-only conversation.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 solo episode, Karisse dives deep into the world of social engineering and how fraudsters use it to gain access to customers' accounts. She explores the motivations behind social engineering and why it's such an effective tool for fraudsters.Karisse also discusses the waves of social engineering attacks that retailers and ecommerce marketplaces with physical goods are experiencing now, and offers tips on how to prevent them. She delves into the most common types of orders that are cancelled and explains why you don't actually have to call a fraudster's bluff.If you're interested in learning more about the dark side of social engineering and how it affects the world of ecommerce and retail, this episode is a must-listen. Tune in now to hear Karisse's insights and expert tips on how to protect yourself and your business from social engineering attacks.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 Even if you don't fight fraud for a living - you will enjoy this episode! In this episode of Fraudology, host Karisse Hendrick sits down with Robert Kerbeck, the Author of the book "Ruse: Lying, The American Dream. From Hollywood to Wall Street" to talk about social engineering and how easy it can be to get closely guarded company secrets out of an employee through a simple phone call.Robert lived a life straight out of a movie (And spoiler alert: his life story is on its way to becoming a TV show!). As an aspiring actor, Robert took a mysterious apprenticeship as a corporate spy. He learned fairly quickly that in addition to impressions, he was great at reading people & connecting with them over the phone, to get them to unwittingly divulge some of the biggest secrets about their company. As an actor, Robert had some unbelievable experiences as an actor like drinking with Paul Newman, playing the lead opposite Calista Flockhart in an off-Broadway production, taking J-Lo on a date to a Dodger's game, and working with OJ Simpson a week before the tragic double homicide of his wife Nicole Brown Simpson & her friend, Ron Goldman. But, he came to realize that his real success would be to become one of the world's most skilled, and deceptive practitioners of corporate espionage targeting top firms on Wall Street, Finance, and Silicon Valley to give their competitors inside knowledge.Now that Robert is retired from that life, he's written his book, "Ruse: Lying, The American Dream. From Hollywood to Wall Street" to not only share his sometimes unbelievable stories but also to provide insights into the social engineering tricks that worked to compromise well-intentioned and well-trained employees & executives of some of the biggest companies in the world. There is a lot that the online fraud-fighting world can and should learn from Robert, especially as top social engineers target most of your companies daily with similar attempts to gain the "keys to the kingdom" with their "rusing" techniques. But, knowing their tactics, and providing fun, yet informative training to your teams (especially customer service!), and implementing a few policies & procedures like some of the ones that Robert shares on today's podcast will all help guard your own company's secrets, revenue, and access to your customer's accounts against people with similar skillsets as the one Robert used to use in his former profession. To learn more about Robert, to purchase his book, or to book him for a corporate training session, go to his website: https://www.robertkerbeck.com/He's also active on LinkedIn: https://www.linkedin.com/in/robert-kerbeck-12aa7a11/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.