Fraudology Podcast with Karisse Hendrick

Fraudology is presented by Sardine. Request a 1:1 product demo at sardine.ai On this episode of Fraudology, host Karisse Hendrick provides some of the ways to identify connection requests or private messages from potential "pig-butcherers" on social media. By recognizing their characteristics, you can decline their requests & educate friends & family about these methods, as they're often on all public social media platforms. She then reads a report written by recent Fraudology guest, Assaf Kipnis, former Engineering manager at Facebook/Meta. Because Assaf has a little more free time, he decided to engage with a prospective pig butcherer when "she" reach out to him.What follows is a rare & interesting behind-the-scenes play-by-play of how these specific type of scams can build trust, create intrigue, and then run off with thousands of dollars per victim. By understanding the scam and how these scammers build a rapport, it may be easier to identify these fraud attacks targeting consumers sooner than after money has exchanged hands. To read along, or just to look up the (AI generated) pictures of "Tina", you can find Assaf's full report here:https://www.linkedin.com/pulse/pig-butchering-scam-victim-journey-analysis-assaf-kipnis%3FtrackingId=fLB5AJyealr8SUNfQMAUjg%253D%253D/?trackingId=fLB5AJyealr8SUNfQMAUjg%3D%3DFraudology 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 On this episode of Fraudology, Karisse is joined by Jenna Posner, Chief Digital Officer of Snipes USA. While most guests on Fraudology are primarily focused on fraud prevention or Trust & Safety, Jenna is in the C-suite, responsible for a much bigger picture that includes sales, marketing, and the entire P &L of Snipes' US e-commerce channel. So, why would someone who has spent their entire career focused on sales and growth care about online fraud?Jenna will answer that question brilliantly. While also talking about:The unique world of hype-selling, especially in sneakers & streetwear, and the high cost to revenue & customer loyalty of relying on a fraud provider that isn't equipped to accurately identify good customers or risky behaviors within millisecondsWhy, despite overseeing the entire e-commerce channel, replacing the existing fraud provider became Jenna's 1st priority; while this wasn't "sexy", the night & day difference, and the returns on that decision gained her a lot of momentum to continue replacing & upgrading technology throughout the businessHow & why Jenna chose the solution that she did for their business, and several of the ways that understanding technology & how it's utilized allowed her to identify an outlier that approached the issue differently, and with more of a focus on increasing sales than only preventing fraudLearn from some of the ways that Jenna talks about the impact and value of a strong fraud strategy on the "big picture" and on overall business goals like building a reliable brand, increasing customer loyalty, and increasing revenue opportunities, to be inspired the next time you're speaking to a business leader within your organizationTo connect with Jenna Posner (No solicitations please!): https://www.linkedin.com/in/jennaflatemanposner/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, Karisse is joined once again by Assaf Kipnis, former Engineering Manager for Integrity Investigations at Meta (previously Facebook). For the 2nd half of this informative conversation, Assaf provides examples of how his team studied & identified the TTPs (Tactics, Techniques, and Procedures) of some of the most complex & pervasion threats to integrity he & his team discovered & dismantled over the last several years of his career. -Within this episode, Assaf particularly focuses on two of the most innovative threat tactics targeting legitimate users that his team dealt with: Inauthentic Behavior & Financially motivated scams. Some of the topics discussed include:How identifying the motivation & behavior of two schemes that may, on the surface seem similar is critical to get to the root cause & ban the behavior in the future; example: "mis-" or "dis-information" versus "inauthentic behavior". While these terms are often generalized as the former, when it comes to eradicating the behavior, the details of the differences are critically importantThe potential financial & reputational damage of "inauthentic behavior", and how focusing on behavior versus content is key when identifying coordinated attacksSlight detour to discuss the privilege of having an in-house engineering team for integrity investigations, some tips for what to do if these types of issues can't be solved in-house, the importance of "babysitting" machine learning, and a few cautionary tips when considering new partners for 3rd party detection The most pervasive & impactful financially motivated scams targeting social media platforms & users including "pig-butchering" (crypto scams that often target western citizens; typically originating in SE Asia), investment scams, and impersonation scams; how understanding the role & perspective that social media companies have on this behavior can be helpful in identifying the same attackers manipulating multiple systems for one overall crimeThis conversation is incredibly fascinating! Especially if you've ever wondered how complex, yet sophisticated the Trust & Safety team at Meta needs to be to stay on the frontlines of identifying new attacks no one has seen before.To connect with Assaf Kipnis directly: https://www.linkedin.com/in/assafkipnis/Links to Additional Information Mentioned by Karisse in the Intro:The "Coordinated Inauthentic Behavior Report" published by Meta in October 2020: https://about.fb.com/wp-content/uploads/2020/10/Inauthentic-Behavior-Report-October-2020.pdfExamples of "Coordinated Inauthentic Behavior" that Assaf's team may have been responsible for detecting & disbanding:"Removing Coordinated Inauthentic Behavior from Iran, Russia, Macedonia, and Kosovo"; Released March 2019https://about.fb.com/news/2019/03/cib-iran-russia-macedonia-kosovo/"Removing Coordinated Inauthentic Behavior from Georgia, Vietnam, and the US"; released December 2019: https://about.fb.com/news/2019/12/removing-coordinated-inauthentic-behavior-from-georgia-vietnam-and-the-us/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 Assaf Kipnis, former Engineering Manager for Integrity Investigations at Meta (previously Facebook). After being part of the most recent round of layoffs at Meta, Assaf has a newfound understanding for the power of information sharing among peers within the greater Trust & Safety ecosystem. In addition to sharing more experiences & perspectives on LinkedIn, he also accepted Karisse's offer to talk a bit about his own experiences working within the Trust & Safety space for two of the largest social media platforms in the world. In the 1st half of their conversation, Assaf talked about some of the nuances & complexities within the department responsible for integrity, especially for those platforms that enable real-time user-generated content. (Beyond social media platforms, that can also include online companies with user reviews, sales listings, comments on articles, etc.)In the 1st of a 2-part episode conversation, Assaf shares his own experiences & perspectives on topics like:Some of the similarities & lessons that all departments within fraud or Trust & Safety, for all types of business models, can learn from each other. From methodologies to learning how similar the departments are from each other for personal development.Why integrity departments w/in Trust & Safety organizations are critical, especially for social media companies, and any other companies that allow real-time user-generated content on their platform (user reviews, sales listings, comments on articles/products, etc)How learning about a threat actor’s TTP (Threats, Tactics & Procedures) to identify ways to scale the detection of the behavior, and not just by identifying single accounts at a timeThe difference between mitigating harm (detecting/stopping true bad actors) and perpetrating harm (false positives)Be sure to subscribe to the Fraudology podcast to be alerted when the second half of Karisse's conversation with Assaf is released this Thursday, May 18, 2023. They'll deep dive into 2 types of scams or spam that Assaf dealt with in his career & the lessons that can be learned from them for all companies that are often utilized as a part of the "scam lifecycle" (something Ayelet Biger-Levin talked about on her episode 2 months ago).To follow and/or connect with Assaf on LinkedIn:https://www.linkedin.com/in/assafkipnis/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 the Fraudology Podcast, host Karisse Hendrick provides a deep dive into what the perpetrator side of fraud refers to as "Inny's". Inny's, short for "Insiders" are able to bypass the majority of fraud & policy defense systems by colluding with an employee to be given access to the account or action that the fraudster wants. From easily committing account takeovers to refund fraud to balance transfers, SIM swaps, and package re-routes, these are all tasks that customer service agents and/or in-store staff are being recruited and paid to do. And unfortunately, this activity often won't be found utilizing the methods or metrics to identify traditional internal theft tactics.Karisse will then share how they are recruited, the average amount that they're paid, and what can be done to identify & prevent bad actors from hiring your customers for fraud-as-a-service. 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 While fraud & payments differ in every online industry, the world of event ticketing is unique & complex, but also very fascinating. First, it's important to know the differences between primary and secondary markets in ticket fraud and who ticket brokers are, and why they're often considered a "necessary evil".In this episode of the Fraudology podcast, host Karisse Hendrick sits down with Shawn Kelley, Former Director of Payment and Risk Operations at SeatGeek. Kelley shares his unique & unexpected journey into fraud prevention for a (then) small startup selling event tickets online called SeatGeek 7+ years ago. While building a fraud prevention and Trust & Safety department from scratch, he stumbled upon a new challenge of processing payments on behalf of venues partners thanks to a new partnership with an NFL team. Throughout this episode, Shawn shares his passion for "zooming in" and "zooming out" on complex challlenges to identify solutions that not only saved SeatGeek millions and protected their customers, but that also became new lines of revenue for the business.And then....Covid hit and all events were indefinitely "postponed". The unique complexities & nuances of being both a primary and secondary ticket provider really came into play during this time, providing a lot of chalenges that needed solved quickly, despite a world full of unknows. Karisse & Shawn also discuss the importance & opportunities of synergy between fraud and payments, uncovering the complex interplay in ticket transfers, and considerations to be made when selecting a machine learning partner, and it's struggle with ever-changing demographics. Connect with Shawn: https://www.linkedin.com/in/shawnkelley/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 Neill Mac Carthaigh, Head of Global Fraud & Risk at eShopWorld returns to Fraudology to continue the 2nd half of his conversation with host Karisse Hendrick. They start out talking about the complexities of fraud team structures and how the department that a fraud team reports to can have a significant impact on all strategy & technology decisions. The remainder of their conversation is focused on Neill's advice to fraud-fighters when they must navigate the landscape of current fraud prevention providers. How do you know it's time to consider a new provider? What requirements should you be looking for?Unfortunately, not all fraud vendors are created equal, despite what many of them would like you to believe. It's advantageous to some to have you think that all solutions are the same. However, selecting a provider that no longer invests in keeping up with the newer tactics of today could be detrimental to your company's bottom line...and even worse, its brand reputation. But, with engineering constraints on most fraud teams, often a live POC (Proof of Concept) isn't a possibility. Neill then shares his suggestions for other ways to verify a vendor's claims prior to signing a contract. While these may mean more work for a sales team, the companies that have updated & effective fraud detection product(s) will happily provide additional information. -Most of these suggestions are things Karisse hasn't heard before...so pay attention & write these down!Neill & Karisse round out their conversation by touching on the importance of accountability and engagement when managing current fraud vendors to maximize a successful fraud prevention strategy. To connect with Neill (No solicitations please!): https://www.linkedin.com/in/neill-mac-carthaigh-94500983/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 Today, host Karisse Hendrick spoke with Neill Mac Carthaigh, Global Fraud & Risk Manager at eShopWorld. Neill has had the unique opportunity of leading online fraud teams in 3 countries in the last ~10 years. And a lot can be learned from his experiences. While talking about his career journey, Neill shared the personal & professional benefits of moving to different countries to fight fraud, the cultural & communication considerations that should be made when hiring & leading international teams, along with the impact of global fraud teams on manual review success rates. Neill will be back on Thursday's episode to share insights on selecting the right solution provider for your business, methods to verify their claims prior to product implementation, and he'll provide insights to blend operational and technical fraud strategies while maximizing the legitimate customer experience. To connect with Neill (No solicitations please!): https://www.linkedin.com/in/neill-mac-carthaigh-94500983/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 If you enjoy listening to two passionate fraud-fighters "geeking out" about various fraud strategies...you will thoroughly enjoy this episode! Today, Karisse Hendrick speaks with Doriel Abrahams, Head of Risk for the US at Forter. Starting with how his passion for acting and linguistics/neuroscience prepared him for his accidental career in online fraud prevention. Then, they discuss how online fraud has been changing rapidly over the last 18-24 months, and how it's more important than ever that all areas of a merchant's fraud strategy adapt to detect the latest methods, or they'll be left behind. Just as it's important to adapt internal operations & tactical prevention efforts, your core fraud provider should also be adapting & innovating at a similar pace as the malicious actors. We saw this most with the "Master Manipulators" organized crime ring during the peak Holiday season of 2022 when the fraud strategies & technologies used by the majority of online retailers were put to the test during the busiest time of the year for online shopping. This rapid change in fraud tactics can also challenge using existing technology in the ways they've "always been used". Such as the "conventional wisdom" of the past surrounding topics like utilizing 3DS in the US, selectively using 3DS in the EU/APAC, advocating to Issuing banks to improve auth rates, and Karisse asks Doriel to explain why he doesn't believe in relying on negative lists. To connect with Doriel on LinkedIn: https://www.linkedin.com/in/doriel-abrahams/**Sign up to receive an invitation to see a demo of the unique ways that Forter approaches e-commerce revenue protection in a pressure-free & anonymous virtual presentation. (More details via the link) https://forms.gle/7B3ew7VAhEtAfE8y8Fraudology 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 This week, we've switched up the schedule to keep the episodes on refund claims fraud (refund fraud) consecutive. So while we'll learn from a fraud-fighting veteran on Thursday, today is a solo episode. Today, host Karisse Hendrick will walk you through the 5 core methods (or categories) that Refund Claims Fraudsters exploit, with examples of at least one variation of each method. But first, she clarifies a topic that she & Dajana discussed in last week's episode: Refund abuse vs. refund claims fraud. While there are some publications & experts saying that the steep increase in refund claims is all due to your customers, that's not the full picture. That's why the 1st step to reducing & preventing excess customer claims is to better understand them through an in-depth analysis process. And, because abuse and fraud are two very different intentions, the solutions are also different. Also, what the heck is "Casual fraud"?? Is this a term YOU plan to use? Karisse then highlights the 5 methods used by "refunders" (professional or DIY) to exploit the customer claims process at each retailer. She walks through the type of claims in the order that retailers experience these types of losses; from the easiest/least amount of effort to the methods that may take extra time and/or additional costs. They will never stop at one claim. So, if the high volume of INR claims are slowing down within your company, be on the lookout for claims of customers receiving empty boxes or missing items. Karisse also stresses the importance of creating a full-spectrum strategy that streamlines the process for good customers, provides continual data & insights to track new trends, and allows a way to review & deny the most suspicious claims. ***A reminder: If you're interested in being on the waitlist to be notified once registration for the course that Karisse & Dajana have created to better understand more of the details (that couldn't be shared here), nuances, and their framework for creating a process to greatly reduce your refund claims fraud, sign up here:https://forms.gle/a1vsWNfs7qe5GdbS8