Trust, Technology, and Tragedy: Anatomy of a Modern Scam

May 7, 2025

Andrew Austin, Head of Fraud Prevention at Sardine, brings a wealth of knowledge from military service to fintech. He discusses the intricate world of financial scams, emphasizing the role of device intelligence and behavioral biometrics in fraud detection. Personal stories about his father's experience with a crypto scam highlight the tragedy and emotional cost of fraud. Austin also stresses the importance of interdepartmental collaboration and understanding customer behavior, advocating for a dynamic approach to risk management in preventing financial crimes.

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INSIGHT

Power of Device Intelligence

Device intelligence and behavioral biometrics provide rich signals to detect fraud beyond traditional KYC checks.
Signals like screen sharing, call activity, remote access software indicate higher scam risk in user sessions.

ADVICE

Build Cross-Team Relationships

Build strong relationships across departments to understand their needs and share data effectively.
Effective communication helps overcome jargon gaps and encourages data sharing for fraud prevention.

ADVICE

Utilize Existing Tools Fully

Leverage existing tools and share access where possible instead of buying new solutions.
Collaborate internally to avoid siloed tools and maximize collective fraud detection capability.

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Banking on Fraudology is part of the Fraudology Podcast Network.

In this powerful episode of Banking on Fraudology, host Hailey Windham celebrates the podcast's one-year anniversary with special guest Andrew Austin, a seasoned fraud fighter and Head of Fraud Prevention at Sardine. The conversation takes a deep dive into the complex world of financial scams, account takeovers, and the cascading failures that often lead to successful fraud attempts. Andrew shares his extensive experience across various sectors, from military service to roles in banking, fintech, and crypto, offering invaluable insights into the evolving landscape of fraud prevention.

The discussion highlights the critical importance of device intelligence and behavioral biometrics in modern fraud detection. Andrew emphasizes how knowing your customer goes far beyond traditional KYC measures, stressing the need for a dynamic view of risk that considers ongoing customer behavior. The episode also tackles the challenges of data silos within organizations and the necessity of cross-departmental collaboration in effective fraud prevention.

Perhaps the most impactful segment of the episode is Andrew's deeply personal story of how his own father fell victim to a sophisticated crypto scam. This heart-wrenching account provides listeners with a stark reminder of the human cost of fraud, illustrating how even those close to fraud fighters can be vulnerable. The episode concludes with a powerful message about the lasting psychological impact of scams on victims and their families.

Don't miss this eye-opening conversation that blends professional expertise with personal experience – tune in now to gain crucial insights into the fight against financial fraud.

About Hailey Windham:

As a 2023 CU Rockstar Recipient, Hailey Windham, CFCS (Certified Financial Crimes Specialist) demonstrated unbounding passion for educating her community, organization and credit union membership on scams in the market and best practices to avoid them. She has implemented several programs within her previous organizations that aim at holistically learning about how to prevent and detect fraud targeted at membership and employees.

Windham’s initiatives to build strong relationships and partnerships throughout the credit union community and industry experts have led to countless success stories. Her applied knowledge of payments system programs combined with her experience in fraud investigations offers practical concepts that are transferable, no matter the organization’s size.

Connect with Hailey on LinkedIn: https://www.linkedin.com/in/hailey-windham/