Fraudology Podcast with Karisse Hendrick

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. 1. Sift Releases Fraud Rates for Black Friday/Cyber Monday weekend showing a HUGE increase in account takeover attempts, which is aligned with unofficial reports Karisse has received from several merchants & Fintechs; Check out their infographic for more details:https://blog.sift.com/2021/infographic-2021-seasonal-fraud-data-black-friday-cyber-monday/2. "Fintech's Fraud Problem: Why some merchants are shunning digital banks" in Forbes this week is an in-depth article on high fraud issues many digital/"Neo" banks are experiencing and that impact on the greater payment ecosystem, including ecommerce merchants that often are financially responsible for fraud losses, despite the perceived "fault". This article is a good jumping off point for some of Karisse's observations when fraud and growth for VC-funded companies are at odds, and what can often happen to risk & financial loss, especially in these high-growth phases. For more information:https://www.forbes.com/sites/elizahaverstock/2021/12/03/fintechs-fraud-problem-why-some-merchants-are-shunning-digital-bank-cards/?sh=6dce951775bd3. Karisse mentions a new trend that keeps coming up in conversations with merchants & fintechs across many verticals. Right now it's just a theory, but one to watch out for. She'll provide more details as they're available. 

With Black Friday and Cyber Monday 2021 in the books, Karisse shares the first public statistics for e-commerce sales during this historically record-breaking weekend of holiday sales and the impact it had on retailer fraud teams.Then, she shares news about a new bill announced in the US Senate to prevent "grinch bots". Although this bill has not yet been passed, it's important for e-commerce retailers, especially those with a limited supply of highly desirable items, to be aware of this bill and its potential impact. Karisse is left with more questions than answers around the enforcement of the bill and what technology could be recommended or required, but also understands the intention of this proposed law. 

Heading into one of the largest online shopping weekends of the year means one of the most fraud heavy weekends of the year.Karisse Hendrick has the fraud news you can use this week, and tips she's been sharing with her clients.

The biggest headline in e-commerce payments this week was "Amazon to stop accepting Visa credit cards issued in the UK, citing high fees". Karisse will dive into why they made this decision, Visa's response to the news, and what other companies can learn from this bold announcement.https://www.cnbc.com/2021/11/17/amazon-to-stop-accepting-visa-credit-cards-issued-in-the-uk.htmlAlso, Karisse reads a question she received from an online retailer asking for help to solve a "mystery" related to refund fraud. Refund/return fraud & abuse is impacting online retailers at an even greater rate than credit card fraud, and this particular method the retailer is experiencing is especially popular. Karisse will shed light on what these clues mean, how other companies can learn if they're experiencing this issue, and a few tips on what can be done to identify these issues before issuing refunds. The Fraudology podcast discusses the "science and study of fraud", particularly in the e-commerce channel. The host, Karisse Hendrick has advised hundreds of the biggest e-commerce companies in the world on fraud, chargebacks, and other forms of abuse impacting a company's bottom line. She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays and Thursdays. To connect with Karisse on LinkedIn: https://www.linkedin.com/in/karissehendrick/If you are interested in learning about sponsorship opportunities for 2022, contact Lucas Walker, Founder of the Rolled Up Podcast Network at Lucas@rolledup.io

Robby Perry is back for part 2 talking about how the issuing banks fight fraud.Highlights of this episode include:-What fraud prevention tools & strategies card issuers recommend online merchants use to decrease fraud (and in some cases, increase sales too)-Chargeback strategies that can lead to higher "win rates" for merchants (based on Issuer strategies for fighting them)-What metrics & tools are at an Issuer's disposal in the case of a mass BIN compromiseAnd several other insightful answers to questions received from listeners of this podcast. To connect with Robby on LinkedIn: https://www.linkedin.com/in/robbyperry/Subscribe to the Fraudology podcast to be alerted when new episodes are out!

What's going on in the world of ecommerce, fraud, and payments? This week Karisse Hendrick shares everything you need to know including some recent fundraising announcements, stats on identity theft, and BIN data analytics.

There are traditionally silo's within the e-commerce payment & fraud eco-system, especially between the card brands, the issuing banks (aka - Credit card companies), and e-commerce/mobile merchants. While there is some reason for this, the value of understanding the other "side's" perspective is immense, especially because they share the same customers and fraudsters.This week, Karisse got a chance to talk to fraud-fighter Robby Perry and learn a lot about issuing banks' approach to fraud prevention. Robby is now a fraud advisor for FraudTech company Sentilink. Prior to this, he held positions in investigations and fraud for Chase bank, Capital One, and Walmart and shares his perspective and expertise from the lens of the credit card companies. In this episode, Robby discusses:What some of the biggest differences are between fighting fraud for a credit card company and for CNP merchantsWhat the biggest motivation of most issuing banks are, which impacts the majority of their processes & policiesWhy it's not a priority for most issuers to partner/collaborate with CNP merchants on fraud cases & investigations; while also providing ample examples of why he recommends itWhat some of the biggest misconceptions are between these two entities, and what can be gleaned from eachMake sure you subscribe to the Fraudology Podcast to be alerted when Part 2 of this interview is released when Robby will answer listener questions. To be connected with Robby Perry, you can find him on LinkedIn here: https://www.linkedin.com/in/robbyperry/Connect with Karisse on LinkedIn and stay up to date with all fraud news.

As the calendar turns to November, that means Fraud is on the rise. Karrise breaks down this and more in this week's Fraudology news.There are often headlines about online fraud & cybercrime. But which ones do you need to know, and what do these stories mean for your company? On this episode, we cover:The big headline for payment processing from the last week: The FBI Raid on the US Warehouse of PAX technologies. Why did so many online fraud managers worry about this? And what can be done to assess any risk to your company? Original article:  https://krebsonsecurity.com/2021/10/fbi-raids-chinese-point-of-sale-giant-pax-technology/Pax Technology's corporate statement to shareholders:https://www.paxtechnology.com/blog/pax-technology-announcement-and-resumption-of-tradingThe NRF has released it's predictions for the increase in sales volume for the Holiday season, and we dive into the numbers for e-commerce retail. Will fraud increase as well? And what can be done last-minute to prepare for this increased volume to reduce negative customer impact while minimizing chargebacks?Original article: https://nrf.com/media-center/press-releases/nrf-predicts-highest-holiday-retail-sales-recordAs discussed on last week's episode, supply chain issues are expected to cause delays and items on back-order throughout the holiday season. In a recent report by Riskified, they predict this will cause e-gift card sales to soar even more than usual during the December Holiday season. How can merchants minimize risk on this already risky channel of business?Original Article: https://news.cardnotpresent.com/news/supply-chain-issues-will-make-e-gift-cards-more-popular-than-ever-says-reportMake sure you're subscribed to the Fraudology Podcast on your favorite podcast app to be alerted when new episodes are released! Also, rate & review the show in Apple podcasts to help others find us! 

Over the past few weeks, one story has been dominating e-commerce headlines. Supply chain issues. Especially with the Holiday season fast approaching, this will have a lot of impacts on online companies and consumers alike. This will mean an increase in online fraud attempts and service-related chargebacks, in ways you might not expect. Karisse will dive into what you need to get ready for, and what can be done to minimize financial losses. Plus, an exciting announcement: The Fraudology Podcast is now a part of the Rolled Up Podcast Network!

In the past few weeks, stories that have an impact on or will be impacted by online fraud have been in the news. And this week, Karisse discusses how the news of the latest T-mobile data breach will have an impact on some online businesses and banks and what to watch out for.   Then, she discusses the recent headlines around OnlyFans restricting the type of user-generated content allowed on their platform. What payment issue caused this announcement, and what can other companies learn from this, especially if they also allow user-generated content on their websites.   Lastly, Karisse discusses a story out of the UK that borders online fraud and online scams & may be of interest to fraud-fighters everywhere.   News headlines shared in this episode: https://grahamcluley.com/t-mobile-confirms-fifth-data-breach-in-three-years/   https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks   https://www.stokesentinel.co.uk/news/stoke-on-trent-news/mum-falls-victim-online-scam-5797714   Interested in registering for the upcoming Refund Fraud Virtual Workshop for Merchants? It starts 9th September!   www.chargelyticsconsulting.com