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2min chapter
PayPal: Max Levchin (Part 1 of 2)
How I Built This with Guy Raz
Credit Card Fraud
The company was losing millions of dollars a month from frodsters who were trying to outwit the system. Back then, this is a, this is before patriot act, before extreme focus on things like money laundring and terrorist financing. Sometime in april of two thousand we saw just te enormous attacks, primarily from my former homeland,. The idea of securing private information, things like paiming credentials, was really infancy. And so by mid june, i think i was starting to become aware that we're probably losing tens of millions of dollars to these fraudulent activities a quarter.
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