Fraudology Podcast with Karisse Hendrick

Dive into the insights from SardineCon, where experts expose the alarming rise of pig butchering scams draining billions. Discover how phone-theft scams can wipe out accounts within minutes. Learn about advanced behavior biometrics that detect suspicious activities during logins. Hear discussions on the challenges in fraud prevention, like underfunded teams and burnout, alongside the growing threat of AI-enabled scams in user-generated content. This is a treasure trove of information for anyone battling fraud.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai In this episode of Fraudology, host Karisse Hendrick sits down with Ron Zayas, CEO and founder of Ironwall by Incogni, to explore the alarming world of data privacy and its connection to fraud and cybercrime. Zayas, an expert in online privacy protection, reveals how seemingly innocuous data collection practices by companies and data brokers have created a massive industry that puts individuals and businesses at risk. He explains how everyday activities like using loyalty cards, booking travel, and engaging on social media contribute to detailed personal profiles that can be exploited by malicious actors.The conversation delves into the sophisticated methods cybercriminals use to craft hyper-personalized phishing attacks, leveraging AI and stolen data to create convincing scams. Zayas shares shocking examples of how this information can be weaponized, from domestic abuse cases to intimidation of federal judges. He also discusses the inadequate privacy protections in the US compared to Europe and the powerful lobbying efforts that hinder meaningful regulation.Listeners will gain valuable insights into protecting themselves and their businesses from these evolving threats. Zayas offers practical advice on minimizing your digital footprint, using VPNs, and being more discerning about sharing personal information. Whether you're an individual concerned about identity theft or a business leader worried about ransomware attacks, this episode provides crucial knowledge for navigating our data-driven world. Don't miss this essential conversation on the dark side of the data economy and how to safeguard yourself - tune in now to arm yourself with the latest information on privacy protection and fraud prevention.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.Mentioned in this episode:2023-q4-postroll sardine 1

Renata Galvão, a child identity theft survivor from Brazil now working in the anti-fraud industry, shares her harrowing story to raise awareness about this growing problem. She discusses how synthetic identity fraud has affected 1 in 50 minors in the U.S., with many perpetrators being family members. Renata emphasizes the need for stronger ID verification measures and practical steps for parents, like freezing their children's credit. Her journey from victim to advocate sheds light on the urgent need for legislative changes and better protections for vulnerable children.

Frank McKenna, a prominent fraud expert and creator of a newsletter on AI, joins Brad Joffe, CCO of Apate AI, to discuss an innovative approach to fighting online scams. They explore how AI bots are deployed to engage and disrupt scammers, collecting essential intelligence along the way. Brad shares fascinating strategies employed by banks like Commonwealth to use these bots effectively. With compelling audio examples, they illustrate the bots' uncanny conversational skills and showcase how technology can turn the tide against fraud.

Kebharu Smith, Associate General Counsel and Director of Amazon's Counterfeit Crimes Unit, shares his journey from federal prosecutor to combating online counterfeiting. He discusses Amazon's significant investments in AI and technology to enhance fraud detection. The conversation dives into surprising successes in collaborating with Chinese authorities. Smith highlights the serious implications of counterfeiting, linking it to human trafficking and terrorism financing. This insightful dialogue underscores the importance of consumer safety and collaboration in the e-commerce landscape.

A shocking data breach at McDonald's exposed 64 million records, highlighting the dire need for strong passwords and multi-factor authentication. Recent statistics reveal a 20% rise in credit card fraud losses, signaling a darker threat landscape. Hear the eye-opening firsthand experience of a fraud researcher who tracked his stolen identity's exploitation over time. The episode also shares a heartbreaking story of an imposter scam that drained a woman's retirement savings, illustrating the manipulative tactics scammers use to build trust.

Dive into the audacious world of fraud, featuring a Florida inmate who orchestrated a $1.2 million scheme from behind bars. Discover the staggering leak of 16 billion passwords, marking a colossal data breach with serious implications. Europol's takedown of a crypto fraud ring and MasterCard's innovative AI tools to combat card fraud illustrate the evolving battle against cybercrime. Learn about global efforts in countries like Singapore and Australia, where new laws are being enacted to combat rising scams and protect victims.

Dive into the complexities of Visa's Acquirer Monitoring Program as the host uncovers hidden costs of non-settled transactions. Learn how TC40 fraud reports can unfairly penalize merchants for fraud beyond their control. Discover the alarming practice of double-counting chargebacks and the broad range of fraud types impacting merchant risk. With insights from industry veteran Rick Clinch, the discussion advocates for fairer fraud monitoring practices, ensuring merchants are equipped to face the evolving landscape of online payment fraud.

Impersonation scams are on the rise, with fraudsters posing as major retailers like Amazon and Microsoft. Innovative strategies are being employed by retailers to combat these threats, including shutting down scam numbers and monitoring gift card activities. The podcast highlights the significance of training employees to recognize potential victims and showcases the collaboration with law enforcement. Insights gained from an insider expert reveal vital tactics for both companies and consumers to counteract these deceptive schemes.

In a riveting discussion, fraud expert Frank McKenna dives into the alarming rise of application fraud in digital banking. With over a decade of experience, he shares insights from a Visa report revealing a staggering 244% surge in digital lending fraud. Frank highlights the normalization of fraud, sophisticated techniques like synthetic identity fraud, and alarming trends such as credit washing. He emphasizes the need for enhanced fraud detection technologies and multifaceted verification systems to combat these evolving threats effectively.