Fraudology Podcast with Karisse Hendrick

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai In this episode of Fraudology, host Karisse Hendrick is again joined by recurring guest Gil Rosenthal, an expert in Credit & Risk Management for Fintechs, Banks, and Issuers. Karisse recently received a couple of great questions from Fraudology listeners in the financial services space, and asked the best person she knows in this side of fraud prevention & risk management to help her answer their questions. Question One: We’ve been getting slammed with CNP, Token, COF and general eCom fraud for the past year or so. We are having difficulties understanding what’s happening, since we only know what fraud looks like on our end!! We don’t understand what we’re looking at when we see the same merchant ID with multiple acquirer IDs. We don't know how to identify if a terminal is legitimate or a possible stolen terminal that’s been changed programmatically. We don’t know if we’re looking at legitimate monthly charges being runs seconds apart from each other, or if we’re looking at a dark web purchased list of cards being tested!! Do you know where an issuer could go to learn these things?Question Two: I’m in the financial services sector and would like to transition to a role in fraud and payments risk at a retailor or processor. Any advice?Listen to this episode to hear answers to these questions from guest Gil Rosenthal & host Karisse Hendrick. They'll discuss the significance of identifying any abnormal activity and spikes in transactions, the importance of understanding specific terminology in different industries, and the benefits of networking and connecting with others in the field. From career transitions to detecting potential issues, Gil & Karisse provide valuable advice and actionable tips for fraud prevention professionals.To connect with Gil Rosenthal or to inquire about his consulting services: https://www.linkedin.com/in/gil-rosenthal/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.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai The word "fraud" is often used to describe identity theft, payment fraud, account takeovers, etc. In this solo episode of the Fraudology podcast, host Karisse Hendrick explores the concept of fraud through unconventional examples. She clarifies the potential harm of bots used to secure popular reservations, the impact of review fraud on companies, boarding scams exploiting Southwest Airlines' processes, and even delves into a humorous story about a man who faked over 20 heart attacks to get out of paying for expensive dinnersAre these cases of fraud? Or, just harmless, opportunistic schemes?Articles mentioned in this episode:https://viewfromthewing.com/the-dark-side-of-pre-boarding-how-scammers-get-the-best-seats-on-southwest-airlines/?https://www.insider.com/man-faked-heart-attacks-20-times-avoid-paying-bill-police-2023-10?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.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai In this episode of Fraudology, host Karisse Hendrick was inspired by previous guest of Fraudology, Andrew Austin to candidly share her own motivations for fighting fraud & how they adapted throughout her career journey. She discusses the challenges and frustrations faced in the industry, the importance of data analysis in driving results, the value of skepticism, and the need to constantly educate others about fraud prevention. Karisse also emphasizes the value of learning from others' experiences and highlights the unique bonds formed with fellow fraud fighters.She also dives into the discovery of her own purpose within the anti-fraud industry, of supporting the industry as a whole and facilitating collaboration among fraud-fighters. Tune in to gain insights from Karisse's personal reflections and the lessons she has learned along the way.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.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai Never did Karisse Hendrick, host of Fraudology, expect to talk about a popular reality show where entrepreneurs pitch their companies to an investor on TV, and the investor decides if the product is something they would like to invest in with their own money; in relation to online fraud. But, thanks to a relatively new company that visited the "Shark Tank" on its most recent episode, Karisse thought this was a good time to provide a heads up to online companies in all verticals. On the episode that aired on the 13th of October, millions of viewers internationally watched the founders as they pitched their company, Bot-it to the investors. But more importantly, the founders of Bot-it claim to be the first B2C bot service with a simple to use user interface.So, Karisse thought this was a good reason to as a chance to delve into the world of purchasing bots, reselling businesses, and the challenges faced by cybersecurity teams in detecting and preventing bot activity. While also taking opportunity to warn Fraudology Listeners of the possible shift in legitimate user behavior, as well as a change in the motivations for the use of Bots, Karisse discusses:The first use of scripted programs/attacks (known as "bots")Why a company's cybersecurity team often manages the relationship with most traditional bot detection vendorsHow purchasing-bots ("sneaker bots") and log-in bots have had a real impact on fraud,, and implications of bot purchasesThe two main groups of users/core motivations of bot users (until now); and why more legitimate customers with no technically expertise may have gotten the impression that using bots online are legal & easy to useWhy the "Shark Tank Effect" on this company, Bot-it may impact online fraud departments (in ecommerce, fintech, and even banking)Why the usage of bots can often result in orders placed by bots being canceled due to company policies The importance of clear policies and communication to reduce additional volume of calls to customer service call.Predictions & advice for those who may suddenly be experiencing purchases or log ins made by bots making purchases or logging in, without typical behaviors that would indicate fraud or re-selling activity.With insider knowledge and expert advice, Karisse highlights the evolving landscape of fraud prevention and emphasizes the significance of building trust with end consumers. 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.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai In this episode of Fraudology, host Karisse Hendrick welcomes back Sidharth Shah, lead product manager of Onboarding and Identity at Novo, a B2B Financial Services Startup. Sid shared some of the ways he's challenged himself professionally in the last year, and what he's learned & accomplished from pushing himself out of his comfort zone. He & Karisse also shared some of their experiences and connections they've made within the Fraudology community and at industry events.From the importance of data-driven decision-making to the value of diverse perspectives, specifically as it relates to fraud; Karisse and Sid also offer practical tips and perspectives for anyone in fraud prevention and on creating opportunities in their career.To Connect with Sidharth (Sid): No Solicitations Please!https://www.linkedin.com/in/sidharth-shah/To listen to more of Sid's perspective:Episode 169: Building a fraud strategy for a complex business model w/ Matt Vega & Sid Shah Novo.coEpisode 170: Identifying Online Fraud Before it Happens w/ Matt Vega & Sid Shah @ Novo.coFraudology 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.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai Too often, fraud-fighters feel undervalued, underappreciated, and misunderstood. When trying to communicate the importance & impact of the fraud team, and trying to convey a sense of urgency to leadership, there are often assumptions made that just aren't true. Or productive. On today's episode of Fraudology, join host Karisse Hendrick as she welcomes back John Matas, former Global Director of Risk & Fraud for Etsy and Corporate Principal for Fraud & Profit Protection at Macy's, a now currently the founder & principal consultant of BlackLight Security. While John considers himself a financial crimes investigator at heart, and an outspoken advocate for fraud prevention, when entering a room with execs or other stakeholders within an organization, he strategically doesn't lead with that. And today, he shares the importance of bridging the gap between fraud prevention and business objectives. Along with his reasons for translating the vast importance & influence the Fraud/Trust & Safety dept, why he started to form this strategy, and how helpful it has been in his career (plus, unexpected outcomes to this approach). From addressing the impact of account takeovers on customer lifetime value to navigating the challenges of false positives, John shares valuable insights and practical advice for building successful fraud prevention programs.To connect with John directly with questions, a connection request, and/or a new opportunity, send him a message 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 weekly, on Tuesdays.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai In this episode of Fraudology, host Karisse Hendrick is joined by her friend and Financial Services Risk expert, Gil Rosenthal to discuss the vulnerabilities and challenges of multifactor authentication. They explore various methods of verification, such as One Time Passwords (OTPs) via SMS or email, authentication apps and magic links, and examine the importance of monitoring unauthorized use claims after MFA was successful for account access or account activity (withdrawals, large purchases, etc.).Gil & Karisse also delve into the indicators used to discover one of the five root causes of spikes in an MFA "attack". Such as, sudden changes in phone companies or a recently updated phone number or email address in an account, and they highlight the importance of analyzing the cause to identify a successful strategy to thwart more attempts. And, they also provide signs to identify when an unauthorized claim was made by the account holder ("1st party"/"friendly" fraud.They wrap up the conversation with a few examples of successful strategies (both technical & process-based updates) to implement to identify & "stop the mouse" in this never-ending Cat-and-Mouse "game"! Join the conversation as they shed light on the evolving tactics fraudsters are using to get around MFA, and the ongoing battle to safeguard user accounts.To connect with Gil Directly (to gain a great person to follow & learn from, learn about his consulting services, and/or his new venture in Financial Services data management & reporting, Choir): https://www.linkedin.com/in/gil-rosenthal/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.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai Viral pop culture moments often happen unexpectedly, and can have unpredictable side effects. Last week we were reminded of this when a pop star's attendance at an American football game prompted a popular athletic brand to sell out of the style of shoes she wore to the game. And, sales of the jersey with her suspected boyfriend's name & jersey number shot up over 400% sales from the week before. In this solo episode of Fraudology, host Karisse Hendrick explains what these pop culture moments have to do with Fraudology as she delves into the fascinating world of international reselling and its impact on online fraud. From the rise of cross-border shipping and payments to the influence of social media and viral trends, she explores how certain items can become lucrative when sold on secondary marketplaces and/or in different geographical regions.Karisse also shares stories and insights from her experience in fraud prevention, discussing the some of the (often unknown) challenges faced by retailers, and the importance of adapting systems to evolving customer behavior and trends. Tune in to discover how companies can navigate reselling, prevent fraud, and stay ahead of unexpected trends.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

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai In this solo episode of Fraudology, host Karisse Hendrick answers the question so many fraud-fighters have asked her lately. -It's not just you or your company. Fraud IS getting worse. -In size and scope.From identity theft to reshipping schemes, supply chain exploits ATOs, and Refund Claims Fraud, Karisse provides a comprehensive overview of the contributing factors that have created a "perfect storm" that is not only changing the methodology & technology being used to perpetrate cybercrime & financial fraud, but also increasing the volume of perpetrators, and overall losses.But, all hope isn't lost. By better understanding the root causes of these changes, by studying the ever-evolving tactics, and by continually evaluating current and prospective 3rd party solution providers within your company's risk stack; some companies & financial institutions are keeping up with these changes more than others. Karisse ends the episode sharing the #1 best thing you can do right now to prepare for this "storm". Whether your company has already seen some of the impacts or not yet. Without doing this, it will be 100% more difficult to obtain the resources & support needed to be equipped to handle this new normal.Article mentioned in the episode: AI Bots Are Way Better At Captchas Than People: https://frankonfraud.com/fraud-trends/ai-bots-are-way-better-at-captchas-than-people/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.

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai In this episode of Fraudology, host Karisse Hendrick is joined by Patrick Chen, a product expert who has specialized in solving complex risk-related problems creatively with technology for some of the largest online companies & platforms in the world. All of those experiences led him to become the co-founder of Spec, a risk & compliance platform that allows its users to approach fraud, and ultimately their (legitimate) customers' experience in new ways. This conversation begins with a discussion about the "problem space" in online commerce & financial services. While we've collectively come a long way from where we were as an industry, it's clear to a majority of fraud-fighters (including the host & her guest) that all of the tools & technology that got us here, will not be able to take us through the next 10-15 years. -At least not without more defeat to cybercrime year over year.Patrick talks about his shared vision of Spec with his co-founder and team of employees, in providing an infrastructure that provides raw data & flexibility necessary for combating fraud. It's a solution they wish they had when they were working to build a risk infrastructure from the ground up at one of the largest online marketplaces in the world; all with less engineering resources & priority than they needed. And then....Patrick shares the extended vision of the Spec platform, as a marketplace (or an "app store", as a comparison). He shares their belief in the need for intellectual property development & ownership in the industry (for fraud-fighters, by fraud-fighters), the opportunities for experienced fraud-fighters to design & benefit from new solutions on the Spec marketplace, and the importance of understanding different industries to effectively combat fraud. Karisse then shares a "secret" she's been keeping for over a year, about the first independently designed module on the Spec marketplace; one that will provide transparency & autonomy to retailers targeted by refund claims fraud (aka- refund fraud). And, she can't wait to see the brilliant product ideas of innovative fraud leaders come to life to provide dashboards & actionable workflows to benefit the industry (and their own pocketbooks, directly!)To connect with Patrick directly: https://www.linkedin.com/in/patrickchen30/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.