Fraudology Podcast with Karisse Hendrick

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai For online fraud-fighters who have been in this industry for more than a decade, we've seen a lot of big changes in the 3rd-party vendor landscape. New technology innovations and additional needs of the buyers, along with a great deal of venture capital funding, have ushered in a lot of new vendor companies, and a lot of competition. In some cases, this competition is important, and in theory, should keep solution providers investing in R&D and continuous innovations to keep up with new fraud tactics & schemes. But what if a new person joined the industry with a lot of experience & knowledge of fraud technology, but who had never been on the e-commerce merchant side? What would their experience & impressions of this sometimes overwhelming & overly competitive space be? How can they even identify who has the best technology if they all say similar things and claim to all work with the same companies? This has been the recent experience of Andrew Austin, Sr. Manager of Fraud Technology at CarMax. After his great conversation with Karisse on Tuesday about his background & an overview on some of the challenging aspects of the auto industry from a fraud perspective, Andrew returned to discuss his experiences with third-party fraud technology solutions and some of the good, bad & the ugly experiences he has had with salespeople for various solutions in the fraud & identity space. Karisse & Andrew also talk about the biggest challenges in the vendor selection process today, while emphasizing the importance of genuine customer relationships and tailoring solutions to each's merchant's needs. They also delve into the process of assessing opportunities, questioning assumptions, and cutting through buzz-word-filled presentations to get to the heart of how problems will be solved (w/o much, or any impact on legitimate users), when evaluating potential fraud prevention solutions. Overall, they stress the need for organic conversations with knowledgeable representatives and avoiding one-size-fits-all solutions in favor of solutions tailored to the specific merchant's needs. This episode is a great one for everyone in sales to listen to, but also merchants as Andrew provides some great tips and a few relatable "horror stories". To connect directly with Andrew (Solicitations will not be responded to):https://www.linkedin.com/in/awaustin/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, Andrew Austin, the Senior Manager of Fraud Technology at Carmax, shares his unique career journey & how it prepared him for his current role, overseeing fraud product/technology for the first & largest omnichannel auto dealer in the US. Andrew also talks a bit about creating a "mission statement" for his role, and how it aligns with his company's mission statement of providing an "iconic customer experience". He also provides a good overview of the most common fraud issues impacting the auto industry, especially those around identity (from the 2 different types of synthetic fraud to identity theft), and how the US makes detecting identity fraud much more difficult than other countries. Additionally, Andrew emphasizes the importance of providing "targeted friction" (versus "blanketed friction") and creating customized experiences for different customer personas. Andrew will be back on Fraudology for Thursday's episode, where he & Karisse will talk a bit about a merchant's experience being the target of so much vender attention pre-MRC, provide some "do's & don'ts" to fraud tech salespeople, and Andrew will give a great analogy for the different kinds of "shoppers"/buyers there are when selecting fraud technology for their companies. To connect with Andrew (solicitations will not be responded to): https://www.linkedin.com/in/awaustin/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 One of the main reasons that bad actors continue to innovate & exploit the vulnerabilities of online companies is their commitment to collaboration. They know that one bad actor alone can’t have all of the skills or the time needed to take advantage of multiple systems & steal Billions of dollars annually from e-commerce, marketplace, and consumer-fintech companies online. So, they rely on each other to learn new methods, identify new targets, and utilize new technology (or old) to continually identify the point of least resistance for payment fraud and all areas of abuse that lead to financial & reputational losses. This is one of the reasons why it is critical for online fraud-fighters & leaders in Trust & Safety to continually collaborate with each other, even (and often, especially) with competitors. That’s why the majority of Fortune 500 companies (within e-commerce, online marketplaces, and consumer-focused fintech), along with the solution providers that support & sell to them will soon be meeting in Las Vegas for the annual MRC (Merchant Risk Council) Las Vegas conference. (Or, as Karisse’s husband once referred to it: “Fraud-Nerd Gone Wild!”) This week is the week for fraud-fighters to learn from each other, meet more of each other, be reunited with good friends, learn about new technology, and so much more. But, because so many things occur congruently at this event and it’s also located in a city known for sensory overload, it can be overwhelming to know where you should spend your time & how to make the most out of these 4 short days. So, as a veteran attendee and former staff member of the Merchant Risk Council, Karisse provides “Pro-tips” from her own experiences and observations, as well as a handful of MRC veteran attendees/Fraudology listeners to navigate & make the most out of your attendance. -Both for those seeking education & peer collaboration as their first priority, as well as for those who attend to meet & educate/sell-to fraud-fighters on their company’s technology (aka- Vendors).Whether this is your first or your 10th year attending, this episode will help you identify your main goals for the event & how to maximize your time & energy. And, it’ll probably get you even more excited than you already are to be surrounded by incredibly smart, passionate, and kind people who genuinely spend the majority of their time trying to make the internet a better place. For more information about this event (it’s close to maximum capacity/sold out, as of the night before this episode is released):https://events.merchantriskcouncil.org/event/a09c1185-1949-40b2-bd23-dd23157439d2/summaryTo view the interactive agenda for 2023:https://agenda.merchantriskcouncil.org/a09c1185-1949-40b2-bd23-dd23157439d2?utm_source=web&utm_medium=cvent-agendaFraudology 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 Often, leaders of fraud departments will say something to the effect of "My biggest adversaries aren't the bad actors trying to commit fraud against our organization; they're within my company and work within other departments that will often sabotage us or not understand our roles, which can lead to more problems than account or payment fraud does." Whether your internal adversaries are in marketing, business development, e-commerce, operations, development/engineering, or cyber security, chances are, they believe they have a full picture of what your company's customers & accounts look like, and don't understand your team's perspective. Because each team often works in its own silo, with its own data sets from different portions of a customer's journey, they can rarely agree on the root causes of problems, and therefore, can't agree on solutions. Not to mention, each department is often measured by competing metrics (new account #s vs. account integrity, Total $ of sales vs. total $ of chargebacks), causing them to focus on competing projects, often impacting the fraud team downstream unintentionally. What if a fraud fighter at heart (and w/ experience on "the front lines") suddenly got the opportunity to work with all of these competing departments from dozens of companies, identifying commonalities across these departments, that often the fraud dept is only at odds with, and rarely gets to work on anything but immediate problem solving or challenging each other's viewpoints of their customers? Nate Kharrl, CEO at Spec has had such an opportunity in the last year, and joined Karisse on Fraudology today to share some of what he's found are common themes & issues that other departments outside of fraud care about, and why they often struggle to understand the impact of the mission of an online fraud prevention team for e-commerce & consumer-focused fintech companies. Because Spec attaches to an online company's system upstream, it can provide a common source of truth for all departments across the company of the entire customer journey. And even if a fraud team brings in the product for review, it inevitably becomes the envy of any department that has a vested interest in better understanding the full picture of a customer experience. To connect with Nate on LinkedIn to learn more about his observations of members or leaders in other departments, or to "nerd out" on fraud products & technology: https://www.linkedin.com/in/nate-kharrl/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 continues the conversation (started on episode 169) by Matt Vega, Head of Fraud Strategy and Sidharth Shah, Sr. Product Manager, both at Novo.co, a fintech that provides financial products to start-ups & SMBs. In this episode, Matt & Sid share their experiences with data-driven vendor selection, the challenges of tech integration, and the critical importance of balancing fraud prevention and customer experience in the fintech space. They also delve into cutting-edge technologies to ensure a positive & frictionless customer experience, by utilizing behavioral biometrics and more insights into the overall customer journey, rather than only taking a snapshot of a customer's actions at the time an action is concluded (at log-in, account creation, "check out", time of transfer, etc.) By having the full picture of the actions a user takes across their platform, they are able to provide a seamless experience to the vast majority of their users; small business customers who need access to their funds quickly. They also introduce the concept of "trip wires" & "land mines" in different areas across their platform triggered by risky, anomalous actions to stop bad actors.Sid also introduces the importance of customer empathy in successful fraud prevention; and the impact this focus can have not only on ensuring less friction but also on building customer trust & loyalty to your brand. Overall, they stress the need to view people as people, not just customers, and how the right amount of friction can actually make users feel safer.*If you're intrigued by this innovative approach to fraud strategy, we recommend contacting the team at Spec for a demo! Unknowingly, what Matt & Sid described was exactly what Spec aims to provide, without the hassle of trying to obtain internal engineering or connecting to any APIs! Learn more at www.Specprotected.comTo connect with Matt on LinkedIn (Solicitations won't be replied to):https://www.linkedin.com/in/thefraudfighter/To connect with Sid on LinkedIn (Solicitations won't be replied to):https://www.linkedin.com/in/sidharth-shah/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 speaks with Matt Vega and Sidharth Shah about their experiences building a fraud strategy and operations for the fintech company, Novo. Matt and Sid discuss the unique challenges they faced in creating a strategy for a unique customer base that uses unverifiable data, and the lessons they learned in vendor selection and product mapping. The conversation is full of practical advice and wisdom.Part two of their conversation will be released on Thursday; Sid & Matt will share more in-depth about the unique ways they're identifying fraud/risk before it occurs and why they see this as the new way fraud & risk should be detected, especially without unnecessary customer friction. To connect with Matt on LinkedIn (Solicitations won't be replied):https://www.linkedin.com/in/thefraudfighter/To connect with Sid on LinkedIn (Solicitations won't be replied):https://www.linkedin.com/in/sidharth-shah/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 Shoshana Maraney , to discuss the challenges faced by fraud prevention professionals in an era of increased uncertainty, and the project they've recently finished that they hope will become a helpful gift to the fraud-fighting community.Shoshana & Karisse add a few more points to what Karisse was considering on Tuesday's episode: The same qualities that make online fraud prevention professionals great at identifying & protecting their company from fraud threats can also make uncertainty & stress within the workplace, whether they're struggling with challenging co-workers, bosses, or unrealistic expectations. They complete the episode by sharing a project they've kept "under wraps" for months that is now ready for the input & help of fraud-fighters working for e-commerce and/or marketplaces to create a blueprint for the community to learn from each other. The 1st annual Fraud Benchmarking Survey couldn't have come at a better time, providing online merchants information to help them understand where they stand against their peers, and how to improve their organizations, while navigating the "unchartered waters" of working in tech during these challenging economic times.If you work for an online merchant in fraud prevention, please e-mail info@chargelyticsconsulting.com w/ the subject line "Benchmarking survey" & Karisse's team will make sure you receive a link to fill out the survey (in 20 mins or less!).To connect with Shoshana on LinkedIn for freelance writing or marketing strategy services, or to follow her for insightful posts & information: https://www.linkedin.com/in/shoshana-karin-maraney-26758736/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 seems like everyone in tech, and especially within the niche of the anti-fraud industry, is exceptionally overwhelmed and stressed out. On today's episode of Fraudology, Karisse discusses the impact of stress and burnout on the fraud-fighting community, sharing her own experiences of burnout and how it led to both positive and negative outcomes in her life. Through her own experience, and from listening to the impact of uncertainty on other fraud-fighter's lives, she's noticed several qualities of a fraud-fighter that help them be exceptional at their jobs but can make it especially difficult to deal with uncertainty & the stress that comes with it.Karisse also highlights the importance of acknowledging and addressing stress and uncertainty prior to them leading to total burnout. Stress is a common theme among fraud fighters, who take their job seriously and personally among other traits that can make them prone to total burn out, and potential health issues. Karisse encourages listeners to find new ways to adapt to their current situation or make a decision to make a change in their career environment to maintain their health and well-being.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 delves into the topic of employment scams and how they are rapidly affecting the online world. These scams are becoming more prevalent and have a profound impact on both individuals and businesses. Not only do they have financial consequences for vulnerable, job-seeking victims, but they also damage customer trust and the reputation of the company being impersonated. With the rise of remote work, it can be increasingly difficult to identify these scams, and it is crucial for companies and individuals to remain vigilant and take necessary precautions. Karisse provides a comprehensive overview of the challenges and consequences of employment scams and emphasizes the importance of staying informed and the proactive steps to take to attempt to prevent having your company impersonated for this purpose. But, you recently learned that your company has already been impersonated for the purpose of scamming consumer victims, she will provide a list of the necessary steps to take right away.To request a copy of the PDF Karisse mentions her team is creating as a resource for employer & consumer victims of an employment scam, you can send a request to: Info (at) ChargelyticsConsulting .comUS FTC (Federal Trade Commission)'s advisory on "Job scams":https://consumer.ftc.gov/articles/job-scamsFraudology 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 One aspect of leading global fraud operations & strategy successfully is collaborating & coordinating strategies with cross-functional leaders/departments within the company. One of the teams that it's imperative for the fraud team to work closely with is the Payments team (responsible for payments acceptance, product management & often regulatory compliance). One example of when the fraud & payments teams need to be aligned most is when the ecommerce/marketplace business makes a decision to expand, either into a new market or to accept a new payment method. Often these teams are responsible for different, yet complimentary aspects of understanding new customer behavior, ensuring current and/or future vendors are capable of meeting the business needs, and all other necessary considerations in the process. Often, when a company has a strong payments SME, the fraud department will benefit (and vice versa). That has definitely been the case for Ticketmaster over the last 12 months since Holly Sandberg (Sr. Director of Global Fraud Prevention) joined Tin Cheung (Sr. Director of Global Payments Acceptance) in the same department. Both of these leaders are experts in their own fields, and have enjoyed learning & working with each other on all aspects of the business where payments & fraud intersect. On today's episode of Fraudology, both Holly & Tin will share a bit about the importance of creating a multi-level strategy for new and updated processes that enable customers the ability to pay how they want to pay, in the languages & currencies they want to pay in, without risks to the consumer or the merchant of record. In addition to discussing some of the more tactical aspects of aligning a fraud & payments strategy, Tin & Holly also expand into more generally applicable topics such as global leadership w/ humility & mentorship in mind, successful aspects of strategy creation & execution, and cohesively doing what's best for the business & their customers. To connect with Holly on LinkedIn (Solicitations will not be replied):https://www.linkedin.com/in/hjsandbergTo connect with Tin on LinkedIn (Solicitations will not be replied): https://www.linkedin.com/in/tscheungFraudology 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.