Fraudology Podcast with Karisse Hendrick

This episode of Fraudology is presented by SEON.Gary Novello Jr, has been preventing in-store fraud in stores like Home Depot, Bloomingdales before moving to online fraud prevention at Macy's. In this episode, he and Karisse discuss:Differences between in-person and online loss, including velocity of loss, and additional losses online.Impact of collaboration and influence for internal communication.Using analytics and data for root cause analysis. What you need to be an effective vendor (you can't fight fraud half way), and how to have great relationships with your vendors.Setting goals to the right timeline.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 semi weekly, on Tuesdays and Thursdays. 

This episode of Fraudology is presented by SEON.UK is looking at bringing in new legislation for big tech advertisers, social media platforms, and search engines. Some are saying it's not enough, others are saying it is a sign of what to come.Read more here.Interesting notes from this episode.7:!5 New UK regulations for anti fraud.15:08 Online advertising fraud, including the story of Karisse getting off the phone with Mark from Facebook (yes, that Mark). 23:00 Keyword and manual reviews of content, including how bootleg videos can found on Youtube.28:59 Impact of mental health on teens from viral videos going wrong.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 semi weekly, on Tuesdays and Thursdays. 

This episode of Fraudology is presented by SEON.One of the biggest challenges for fraud-fighters isn't around fighting challenges outside of their company, it's to be understood and appreciated within their organization. In today's episode, Karisse talks with Dajana Gajic-Fisic, head of e-commerce fraud prevention for JD Sports North America (previously known as Finishline) and learns how she has successfully become a sought-after SME within her organization by various departments & several executives. While building credibility for her and her team didn't happen overnight, on today's episode, Dajana shares:Why, in her opinion & observations fraud teams are often an "after-thought", and how we sometimes give ourselves a bad reputation outside our teams, despite thinking otherwiseHer strategic approach to building trust & credibility with other departments who, at first didn't understand the importance or value of the fraud prevention teamHer approach to consulting with cross-functional departments within her company and why only focusing on chargebacks & fraud rates can cause distrust and unwanted resultsTo connect with Dajana on LinkedIn, visit her on LinkedIn.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 semi weekly, on Tuesdays and Thursdays. 

This episode is presented by SEON.The best way for bad actors to improve the speed & accuracy of their fraud attacks targeting ecommerce and fintech companies, is to continually invest in technology. And that is exactly what we need to be prepared for in 2022. From stealing access to data sources used by fraud prevention teams to verify identities, to using OTP (One Time Password) Bots to appear legitimate, it's important for fraud teams to understand the resources & innovations on the fraud side. It's also a good time to assess the accuracy of the end-to-end systems and processes your company uses to identify and prevent bad actors from account takeovers, ID theft, carding, and other forms of abuse that ultimately result in a revenue loss to your company. While bad actors have several advantages in their speed & adaptability, it is possible and necessary for merchants & fintechs to adapt, innovate, and tweak their systems to keep up with fraudster capabilities & technology. Articles & Sources:https://www.vice.com/en/article/k7w7xz/crook-sells-access-transunion-tlo-private-investigatorshttps://krebsonsecurity.com/2021/09/the-rise-of-one-time-password-interception-bots/https://frankonfraud.com/fraud-trends/this-year-10-fraud-predictions-for-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 semi weekly, on Tuesdays and Thursdays. 

This episode of Fraudology is presented by SEON.Gil Rostenthal returns to Fraudology. In this episode he and Karrise break down:The biggest fraud/risk-related pain points for all Fintechs & banks that accept applications for their services online and how these issues can impact others within the online payments ecosystem, sometimes created financial losses for CNP merchants & payment processorsWhy the trust within the payments eco-system is so critical and ways it's currently being brokenIssues most Fintechs in their high-growth phases face, and ways to get ahead of the problems before they become costly, and sometimes mean the end of a businessFraudology 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 semi weekly, on Tuesdays and Thursdays. 

Welcome back to Fraudology, and hello 2022. In this episode, presented by SEON Karisse explores fraud happening toward the end of 2021, and what to expect in the coming months of 2022. Karisse is joined by Gil Rosenthal.PPP Fraud, and how that money will be used as a war chest for future fraud, not a retirement fund.$1.6B sitting in Starbucks wallets, and how that relates to the use of giftcards as a money laundering vessel.How bots are getting access to One Time Passwords.Observations from a 10,000 foot view from a seismic shift in online fraud.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 semi weekly, on Tuesdays and Thursdays. 

This episode is brought to you by SEON.Gil Rosenthal has had a front row seat to financial fraud online for the past 10 years of his career. His fraud career began at PayPal with an elite team of fraud-fighters in Tel Aviv, charged with preventing the high volume of fraud they experienced around 2010. He then moved to BlueVine, an online lender for businesses, where he worked his way up to VP of Risk Management. While at BlueVine, Gil was in charge of the risk management, as well as the operations processes for the roll-out of PPP (Paycheck Protection Program in the US), to help provide Billions of dollars of funds to small & medium businesses that needed the funds to continue paying their employees. It's been well documented that the entire PPP program resulted in >$76 Billion in fraud. It can be assumed that Gil & his team saw a lot of this, and stopped as much as they could. For the first time publicly, Gil shares what he can about this experience, the unique challenges he & his team faced in stopping fraudulent applications but also experienced the rewards of funding millions of businesses with needed funds to keep their businesses afloat. Now working as an adviser to high-growth Fintech companies, Gil has learned even more as he works with multiple clients to identify a myriad of fraud attempts in many forms. He shares with the Fraudology audience some of the keys to his success, and his methodology in working with some of the biggest targets of online fraud in the present day. But even more important, the perspective that fraud prevention is more about enabling a better customer experience when done right. Next week, Gil will join us for Part 2 of our conversation where we will "geek out" about the new approach fraudsters are taking to negatively impact the entire payments eco-system in different ways, and that often gets overlooked or coded as credit issues, instead of fraud. Merchants, fintech companies, banks, and card brands will want to listen to Part 2 as this "trend" is sure to exponentially grow in 2022. Connect with Gil on LinkedIn.Be sure you're subscribed to the Fraudology podcast on your favorite podcast app so you'll be alerted as soon as the next episode is released. This podcast is sponsored by SEON. The modern fraud prevention solution used by the most ambitious FinTech names such as Revolut, Afterpay, and Wise. SEON is democratizing fraud fighting at scale. By offering a free trial, public-facing API references, no install or setup fees, and fully transparent pricing where you only pay for what you need, this puts cutting-edge risk tech into the hands of every online business. Visit www.seon.io/demo for a free demo.

Every online company that sells a good or service has online fraud. Companies with products popular with consumers will be targeted by fraudsters. And Apple was no exception when it began its online store. Monica Sharp has had the unique career opportunity to witness Apple's transformation from its pre-internet computer manufacturing days to its current position as the premier creator and purveyor of consumer electronics, software, and online services. She was responsible for innovative projects and programs across many teams and organizations, regionally and globally, during her time at Apple, ending with the fraud department for the last 10 years of her time there. For the first time, Monica is sharing some of her experiences publicly with Fraudology podcast listeners. From what it was like in those early "beige box" days to solving some of the biggest issues in anti-cybercrime, Monica has some great stories and insights to share!Connect with Monica on LinkedIn: https://www.linkedin.com/in/monicamuniz/Check out Monica's new company, founded with 2 other former Apple anti-fraud all-stars: www.Sumatra.aiSubscribe to the Fraudology podcast on your favorite podcast app to be alerted when new episodes are released. And if you loved this episode, please rate & review the podcast where you can.Fraudology is edited & produced by the talented team at JourneyGurl Magic Productions.

Frank McKenna has been fighting fraud for 30 years in banking, auto loans, and credit cards. Needless to say, he has seen great changes in fraudster behavior & methods, as well as in technology & strategies in prevention and investigation. But what he is probably best known for is his popular blog, "Frank on Fraud", where he shares relevant news and stories about fraud and scams all over the world, in various sectors. In this episode, we get to learn more about Frank, his career path, why he fell in love with fraud prevention, and how he's utilizing collaboration to help stop auto-loan fraud. If you haven't yet discovered Frank's blog, check it out! www.frankonfraud.comTo learn more about Point Predictive: https://pointpredictive.com/https://pointpredictive.com/To be alerted when new episodes of Fraudology are available, subscribe on your favorite podcast platform!The Fraudology podcast is edited & produced by the amazing team at Journey Gurl Productions.

On this week's episode, Karisse shares some of the topics of conversations she's had with several online retailers this week. She talks about an ATO attack ring that seems to enjoy credential stuffing on holidays, re-shipping mules targeting retailers this holiday season, and more attacks by "grinch bots".Remember the headlines on ep. 47 about some merchants no longer accepting credit cards from certain digital and/or "neo banks"? Add Robinhood, the investment app to the list of merchants restricting payment acceptance from institutions they see a higher-than-usual fraud rate on. The trust within the payments eco-system is being broken, but it will be interesting to see the card brands and/or ACH networks' responses to these business decisions.https://www.forbes.com/sites/jeffkauflin/2021/12/20/with-fraud-growing-robinhood-becomes-latest-fintech-to-block-customers-from-transferring-money-from-certain-banks/?sh=7f52c3b917faAnd late last week, the CFPB (Consumer Financial Protection Bureau) in the US announced opening inquiries into 5 BNPL (Bay Now, Pay Later) companies to better understand their business practices, policies, and how they affect their consumers. This does not mean that any of these companies have done anything wrong, but as a new, and popular new form of payment, the consumer protection agency wants to ensure they understand the business models.However, one area of inquiry is actually a variable controlled by the BNPL's merchant partners, so there could be an impact on retailers' return policies as a result of the inquiry.https://www.pymnts.com/bnpl/2021/merchant-policies-could-come-under-cfpb-scrutiny-as-part-of-bnpl-inquiry/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 https://www.linkedin.com/in/karissehendrick/She brings her experience, expertise, and extensive network of experts to this podcast semi weekly, on Tuesdays and Thursdays.