Fraudology Podcast with Karisse Hendrick

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai Last week, the online publication ARS Technica published an article covering recent fraud claims from debit cardholders and small online merchants. Based on their research, it became fairly clear that a large number of debit cards issued by at least one major bank had been compromised. And based on the merchant accounts, those cards were being actively tested to create a list of valid card numbers. Given some of the details in the article, it became clear to fraud experts (Karisse included) that this was a scripted attack. Karisse will talk about this specific instance, what can be learned, and what can/should be done by all applicable parties in the CNP eco-system.This story is just one public example of a trend growing rapidly & anecdotally in conversations Karisse has with Top enterprise online companies. Scripted attacks (aka- bots) are growing in size and capabilities faster than ever before. Karisse will share one of the major reasons why she thinks that is (besides the increased processing power of computer systems), and also lists the type of bots that anti-fraud and Trust & Safety teams should be aware of, and what signs of bots to watch out for. Even if your business hasn't been a target of these bots in the past, that doesn't mean your company will be safe in the future.Link to the article referenced above: https://arstechnica.com/information-technology/2022/08/wave-of-debit-card-fraud-hits-ally-bank-customers-hacked-vendors/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 Frank McKenna, co-founder of Point Predictive & the author behind the popular blog "Frank on Fraud" is back to talk about a topic he thinks doesn't get as much attention as it should: Credit Washing. What is "credit washing" & why has it spiked in the US since 2018? Why is it so bad, and what companies/financial institutions does it impact most? What are some ripple effects into other industries caused by this practice?Why is the US Department of Justice starting to take this more seriously and crack down on the biggest offenders? (But is that enough?)Frank will break down this type of fraud that is impacting banks & Fintechs at an exorbitant amount, why this problem will continue to grow and impact most parties within a financial eco-system if it's not rectified soon. To read the article referenced in this episode:https://frankonfraud.com/fraud-trends/ftc-investigator-finds-suspect-credit-washing-pattern/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 A follow-up story to Ep. 110 (7 July 2022): Merchants have reported answers to some of their questions after speaking w/ Visa about the upcoming Visa Chargeback Rule changes set to go into effect in April 2023 & Karisse asks for specific clarification. Sometimes it's just as important to hear what someone doesn't say, as much as what they do say.A brilliant listener provided some great insight into one of the newer fraud methods being reported by enterprise merchants that were mentioned on Ep. 116 (27 July 2022)MasterCard has announced rolling out a BNPL payment option to ALL cardholders & merchants that use/accept MasterCard. But, who's paying for the service fees & can merchants opt out, especially if their AOV is low?Article for reference: https://www.digitalcommerce360.com/2022/08/12/mastercard-faces-retailer-backlash-over-buy-now-pay-later/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 As more lay-offs, budget cuts, feeling unappreciated, and expectations to do more with less continue to impact online fraud-fighters, the consistent question that keeps coming up is often "How can I get my business to understand the value, impact, and importance of pro-active fraud-prevention?" Last week, Robert Capps shared his perspective on WHY fraud-fighters traditionally have a hard time communicating w/ their leadership and the heads of other departments. This week, he's here to share:HOW to define core metrics to share with leadership & other departments to help them better understand the impact of fraud losses on the businessHOW to create a compelling business case; whether to request new technology or resources or in response to the latest idea/proposal by another department that will most likely cause more risks for lossesHOW to advocate for your fraud team to increase their pay bands. Many fraud leaders are losing great talent to competitors because of pay; how can they use facts & data to justify higher pay for these highly trained & skilled team members?To connect with Robert Capps on LinkedIn: https://www.linkedin.com/in/rwcii/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 Karisse talks about 3 recent fraud news articles & how each is related to online fraud.The UK is the Card Fraud Capital of Europe:https://www.finextra.com/newsarticle/40756/uk-is-card-fraud-capital-of-europeMore Americans hold crypto accounts than have saving accounts for the 1st time:https://www.crypto-news-flash.com/more-americans-owned-crypto-than-savings-accounts-for-the-first-time-study/Hackers Exploit Twitter Vulnerability to expose 5.4 million accounts:https://thehackernews.com/2022/08/hackers-exploit-twitter-vulnerability.htmlKarisse also shares a fraud detection tip she learned this week that could be especially insightful to companies that rely on AVS responses to identify risky orders.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 Robert Capps joins Karisse for what was going to be an "ask us anything" episode. But, based on the tenor of the questions we received, and the overall state of the tech world, they end up talking about the uncertainty many fraud-fighters & other industries in tech are consumed with. Why is this time different than the last recession? And why are we seeing some of our peers being laid off when we all know online fraud is growing & changing quickly?Robert shares that he has survived many downturns & provides advice to those in the space who were laid off, feeling job insecurity, or are feeling a need for a change, but wonder if they should stay in a more secure company.Both Karisse & Robert share some career advice and then start to talk about the importance of communicating the value, importance, and impact of fraud prevention and Trust & Safety within your company. (Year-round, but especially now)To hear A LOT more details on that last point, along with several real-life examples & advice in communicating with leadership & stakeholders within your business, subscribe to the Fraudology podcast to be alert when Part 2 of this conversation is released next Tuesday, 8-16-22.To reach out to Robert on LinkedIn: https://www.linkedin.com/in/rwcii/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 common theme in conversations with fraud-fighters right now is "uncertainty". The changes in the economic market, the impact of less VC funds on the tech industry, all the while seeing fraud tactics change & fraud volumes go up, are enough to drive anyone to feeling fearful and uncertain. In this episode, Karisse shares some of the common themes in conversations she's had recently, as well as the results of a LinkedIn poll she posted to ask what the root cause of people's stress at work has been. She also shares some personal stories of working for a smaller (eventually unsuccessful) during the last recession, and lessons learned from that time. -Even if you can't relate, you might at least laugh at some of the unexpected stress responses she witnessed from leadership. If you're not feeling this stress, count yourself lucky, but also please remember that most everyone else is. This too shall pass, but until then, let's try to be kind to others (and consider these stresses if you're in sales & reach out to fraud-fighters on a regular basis).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 Fraud is ever-changing. So it's important to stay informed on new methods & tactics used by bad actors. And today Karise shares three newer fraud trends that have been reported by online merchants & fintech recently. Compromised employee accounts at companies that online companies rely on for accuracies, such as shipping carriers and accounting software are being sold on sites like Telegram & the dark web for nefarious purposes; in the end, the online company is the one most affected (not the companies w/ compromised employee log-ins)Fraudsters are advertising to consumers directly, enticing them with $ to buy their accts to online merchants (Victim-assisted ATO?)New method of social engineering targeting legitimate customers of online sites to "return" items the caller claims are defective; the address provided to return the items they just received does not go back to the merchant, though customers expect the online retailer to replace or refund the purchase. 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 A career path in online fraud prevention is anything but a pre-set, linear path. The options are many, but can still be confusing and challenging to get started, and to know what to do next.On today's episode of Fraudology, PJ Rohall, Head of Fraud Strategy & Education for SEON and the co-founder of the online fraud resource website About-Fraud.com, stops by to talk about lessons learned in his career & advice he gives others when asked.Are there certifications or training that can make someone more prepared or qualified for a promotion or new role in fraud?When choosing what you want to do next, how can you know what's right for you? (Both the role, and the company)When you're in a role, and you aren't sure if you should stay or find a new opportunity, what are some ways he's learned to know when the right time is to look for something new?To connect with PJ on LinkedIn: https://www.linkedin.com/in/pjrohall/To check out his website: www.about-fraud.comFraudology 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.