Fraudology Podcast with Karisse Hendrick

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai This question (or a form of it) has been asked multiple times recently by different people in Karisse's life. From the dental assistant at her dentist's office to a couple of Fraudology listeners asking on behalf of themselves or co-workers, and at least one online merchant that received an escalated call from an upset victim of credit card fraud that accused their company of stealing his recently re-issued card #.While these instances could all be coincidental, as fraud-fighters, we know there usually isn't such a thing as a coincidence. So, on this week's episode of Fraudology, Karisse lays out 5 different ways that fraudsters have learned to "recycle" or learn the new card # on a credit card account w/ a card that was recently closed, and reissued with a new card # due to fraud. Tha advantages to knowing these often not discussed methods are to help you troubleshoot & identify the various root causes if this happens to you, a family member, or a customer; and to be aware of the various methods used to identify "fresh" card #s that often lead to recurring card fraud victims. And what can be done to prevent these methods, either/and by the cardholder, the issuing bank, and/or the merchant of record? The link to the article referenced if you're interested in learning more about the math equations behind issuing new credit card #s (The "Luhn/Mod-10" algorithm; proprietary algorithms utilized by each issuing bank are not available publicly):https://medium.com/@ma.juber/mathematics-behind-credit-debit-card-numbering-340bf68d27d2Fraudology 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 week's Fraudology guest is a 20+ year veteran in technology and the anti-fraud space who has worked with large name Fraudtech/Cyber-security technology companies to support the world's largest financial institutions in identifying & preventing online fraud.Ayelet Biger-Levin shares how her career experience, combined with her empathy for the end-users/victims of financial fraud & scams (consumers) has led her to a new chapter in her career. Founding a start-up that will help notify & educate consumers about potential scams, either those initiated online, via calls, or text messages. There isn't a better time or a better person for creating this type of solution, as consumer-targeted scams are completely out of control in the Western world.In this episode, Ayelet & Karisse talk about:What is the "Scam lifecycle" & why every online company needs to know where their company/services/platform sits within the "Scam lifecycle" & how it is being leveraged by bad-actors to commit scams.How there's a "Crisis of trust in the digital realm" and the part every online company needs to embrace & face this; along with the advantages (and disadvantages) of not focusing company-wide on building trust with your users & customers.How other fraud-fighters can help Ayelet in this stage of her start-up as she begins to learn more about the ways that various platforms are used by bad actors to target, manipulate, and profit off of their scam targets; even if you just have 30 minutes for a call, your experience & knowledge could be extremely helpful as Ayelet finalizes the technology and business plan for her upcoming ventureTo contact Ayelet: https://www.linkedin.com/in/ayelet-biger-levin/To listen to the Scam Rangers podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/scam-rangers/id1661710240?ign-itscg=30200&ign-itsct=podtail_podcastsFraudology 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 week, Karisse is sharing some of the online fraud & technology-related podcasts that she subscribes to, to help round out your podcast library. Some are fairly new, others are long-time standbys; all have a unique perspective & voice on topics to keep fraud-fighters learning & engaged. All of these shows can be found on any popular podcast app (ex. Spotify, Amazon Music, etc); here are the links to each of them on Apple podcasts:Fraudish by Kelly Paxton: https://podcasts.apple.com/us/podcast/fraudish-formerly-great-women-in-fraud/id1530413097Trust in Tech by Alice Hunsberger: https://podcasts.apple.com/us/podcast/trust-in-tech-an-integrity-institute-member-podcast/id1653622883Cybercrimeology: https://podcasts.apple.com/us/podcast/cybercrimeology/id1485830871Scam Rangers by Ayelet Biger-Levin: https://podcasts.apple.com/us/podcast/scam-rangers/id1661710240?ign-itscg=30200&ign-itsct=podtail_podcastsQueen of the Con (Season 3): https://podcasts.apple.com/us/podcast/queen-of-the-con/id1583019312Smashing Security by Graham Cluley and Carole Theriault: https://podcasts.apple.com/us/podcast/smashing-security/id1195001633Reply All: Episode #99 - "Black Hole, New Jersey": https://podcasts.apple.com/us/podcast/99-black-hole-new-jersey/id941907967?i=1000386584517Pivot by Kara Swisher and Scott Galloway: https://podcasts.apple.com/us/podcast/pivot/id1073226719Also mentioned:DarkNet Diaries by Jack Rhysider: https://podcasts.apple.com/us/podcast/darknet-diaries/id1296350485Swindled by "A Concerned Citizen": https://podcasts.apple.com/us/podcast/swindled/id1308717668Fraudology 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 no secret that online financial fraud, especially the fraud targetting the US & other Western Nations is often perpetrated by international organized crime. It can be difficult and confusing to know which law enforcement agencies to contact, or if they will follow up on the cases you've referred to them. So, often, online companies keep their investigations internal, often with little to no legal recourse against the cyber-criminals stealing thousands, if not millions of dollars from their organizations on a regular basis. So, when the Assistant Director of Investigations for the US Secret Service (Dave Smith), and the Deputy Assistant Director of the US Homeland Security Investigations, Transnational Organized Crime Division (Raul Aguilar) offered to join Karisse for a conversation on Fraudology, of course, she quickly replied with: "When?".Today is that day. Dave Smith & Raul Aguilar know that working with US federal agencies on online fraud cases hasn't always been easy. But, they're trying to change that. And they wanted to share with the listeners of Fraudology why their agencies are re-engaged in the investigations & dismantling of transnational organized crime & how you can work with their teams. Both Dave and Raul wanted to speak together to demonstrate their commitment to inter-agency collaboration, and to communicate their individual & combined commitment to collaboration, education, and justice. They'll also be candid about some of the challenges they face in their roles, how under-resourced they can be, and how prioritization works within their organizations. To connect with the programs that Dave & Raul mention in this episode:Consumer Shopping Guide provided by ICE (Immigrations & Customs Enforcement) includes summaries of several of the Operations conducted by DHS/HSI against fraudsters: https://www.ice.gov/topics/shopping-guideOperation Boiling Point (Operation by DHS/HSI against organized theft groups): https://www.ice.gov/features/op-boiling-pointList of local USSS Field Offices: https://www.secretservice.gov/contact/field-officesFraudology 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 Last week, Karisse talked about 2 major data breaches that she speculated could lead to an increase in specific fraud method attempts. The next day, she read a LinkedIn post challenging the opinion that data breaches lead to more online fraud. And this caused her to challenge her long-held belief in today's episode of Fraudology.Throughout this episode, you'll hear facts, data, and anecdotes from different perspectives to try to determine (once & for all?) if some or most online fraud is due to a data breach at some time. Or, is all of the information about every single consumer at the ready of cybercriminals when they want it?Also discussed: An update from last week's episode on the news of 100s of millions of Twitter account details exposed, as now they have been publicly circulated, with more risks than online fraud/identity theft alone.https://www.wired.com/story/twitter-leak-200-million-user-email-addresses/Report cited on data beach data from SpyCloud 2022:https://spycloud.com/resource/2022-annual-identity-exposure-report/ (FYI- email address, name & company name required to download)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 There's no doubt that 2022 was a pivotal year in online fraud. Whether it was in online banking, fintechs, or e-commerce/marketplaces, we saw more attacks and more sophistication & exploitations than ever before. So what fraud-related threats & issues should we be prepared to encounter in 2023? Karisse asked 2 legends within the anti-fraud space, Frank McKenna and Mary Ann Miller* to join her to discuss a recent article the 3 of them collaborated on for Frank's blog: Frank on Fraud. The article provides their top 10 predictions for online fraud in 2023, based on years of experience studying cause & effect within the fraud landscape, as well as their combined listening to hundreds of fraud-fighters in multiple areas of fraud prevention. While they all hope that NONE of these predictions come true, the truth is, it's better to prepare for a storm than be surprised by one. Consider this article your weather report for 2023. Many fraud-fighters have already reported sharing the article with their teams, as well as some of their leadership to prepare them for future conversations about budget, resources, and industry-wide challenges.In this episode, these 3 experts in online fraud detection & prevention discuss the last year of fraud, and a few of the 2023 predictions they think are most critical for the industry to be aware of. This episode is the perfect companion after you've read the full article here:https://frankonfraud.com/fraud-trends/dawn-of-the-shapeshifter-10-fraud-predictions-for-2023/*The guests: Frank is the brilliant mind behind the popular "Frank on Fraud" blog & co-founder of Point Predictive; Mary Ann Miller is a well-respected leader in the anti-fraud industry in banking, fintech & the identity space for over 25 years & is currently the Vice President of Client Experience for Prove.To connect directly with Frank: https://www.linkedin.com/in/frankmckenna/To connect directly with Mary Ann:https://www.linkedin.com/in/cybergalmam/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 the last ~2 weeks, there have been headlines about 3 data breaches/"security incidents" that are worse than we could have imagined.Just some of the headlines from these 3 incidents:"400M Twitter users’ data is reportedly on sale in the black market""LastPass finally admits: Those crooks who got in? They did steal your password vaults, after all…""Okta confirms another breach after hackers steal source code"With the news that millions more names, e-mail addresses, phone numbers, passwords, and other valuable PII were exposed via massive data breaches recently, this is sure to have a massive impact on your customers. And as a result, on your business.In this episode, Karisse goes through some of the details of each incident, the specific PII that has been exposed, and just how bad this is for any business with user log-ins; from Banks to Crypto to online commerce. Because of this, and additional current threats to online fraud, it is clear that collectively, the anti-fraud world needs to "up their game".The tools & processes we've relied on for years will be rendered useless on their own if those systems rely solely on verifying that the information at the time of a user log-in or check-out matches a legitimate user. And, especially after the recent disclosures by LastPass, we have to make that assumption, and react accordingly.https://cointelegraph.com/news/400m-twitter-users-data-is-reportedly-on-sale-in-the-black-markethttps://nakedsecurity.sophos.com/2022/12/23/lastpass-finally-admits-they-did-steal-your-password-vaults-after-all/https://techcrunch.com/2022/12/22/okta-breach-source-code-github/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 Most online fraud-fighters may daydream about seeing their most prolific fraud rings facing real-world consequences for their crimes. But, very few get to see that kind of justice served. For a variety of factors, most online companies do not have a post-transaction investigation department whose focus is on further investigations to tie all orders & accounts to one ring, identify the person/people behind the screens, and work with federal law enforcement agencies. But, the original Trust & Safety team at StubHub (until 2015) proved it can be done and can provide great benefits to the company in the form of restitution and reduced fraud attempts. And, they have the scars & stories to prove it! On this week’s episode, Karisse is joined by Robert Capps, former head of Trust & Safety for StubHub and current blockchain expert; along with Eric Boles, who transitioned to the “privcate sector” to create the investigations unit for StubHub from the US Secret Service, and now heads up an e-crimes department at Yahoo, Inc. On today’s podcast we talk about so much! Including:The catalyst for creating an internal investigations unit to focus on “catching” and prosecuting the most prolific fraudsters on the StubHub platform, and a few of the hidden benefits of these efforts they couldn’t have anticipated.What the World Series, the San Francisco Giants, and 2 of the most violent Chicago street gangs had in common; along with oither fascinating examples of what was discovered when the investigations team identified the people behind the large-scale fraud threats, and what other crimes these fraudulent purchases funded.Why merchants & marketplaces should re-consider their strategy against long-term deterrence from committing fraud on their websites & services, and a few ways to get started if this is something you want to duplicate.Links:Connect with Robert Capps here: https://www.linkedin.com/in/rwcii/Connect with Eric Boles here: https://www.linkedin.com/in/eric-b-21605942/To read one of the many articles that was the result of their efforts at the time: https://www.usatoday.com/story/tech/2014/07/23/cyberthieves-stubhub-fraud/13036243/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 tech world is feeling the uncertainty of an economic downturn, months of supply chain issues, and almost daily reminders of the reality of lay-offs. One way that Fraud, Risk, and Trust & Safety Teams can support their company and demonstrate their commitment to being aligned with company goals is to identify ways to cut costs and/or recover revenue. Fraudology welcomes back popular guest Gil Rosenthal to discuss his top three strategies for Risk teams of Fintechs & Financial Institutions to cut costs, increase efficiencies, and recover revenue. Similarly, Karisse shares her top three tips for e-commerce & marketplace companies to identify areas of opportunity to cut costs, increase efficiencies, and recover revenue. All 6 creative suggestions are complimentary to each other, have been proven effective for their respective clients, and can lead to changing the perception of these departments from a cost center to "revenue protection & recovery".To connect with Gil on LinkedIn: https://www.linkedin.com/in/gil-rosenthal/To hear Gil on previous Fraudology episodes, listen to episodes #50 & #52 from January 2022, as well as episode #96 from May 2022.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 More than ever before, consumers are choosing where to spend their money online based on who they like and trust. And while not all trust is lost or built within the fraud or Trust & Safety departments, more merchants are conducting internal studies to understand the impact on their bottom lines based on building or losing customer confidence in their company. On today's solo episode, Karisse provides 3 real-world, anonymous case studies that top enterprise companies (e-commerce, marketplaces, or fintech) have conducted to understand the price of trust. And the results were surprising! There's one merchant that learned the hard way what can happen when ATOs aren't avoided or quickly remedied. Another one looked at the annual spend of their customers before and after a customer's account was taken over. And, another was able to track how customers want to be treated in the event of a major ATO attack/threat to their online accts. -this one really surprised Karisse!.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.