Fraudology Podcast with Karisse Hendrick

Fraudology is presented by Sardine. Get your tickets to Sardine[Con] and end the scamedmicDavid Maimon is back (after Tuesday's episode) with even more insightful observations from his team's research of the cybercrime ecosystem. He first shares what the "Evidence Based Cybersecurity Research Group" at Georgia State University has observed about different groups & types of groups of cybercriminals. Including the online fraud methods, tools, and tactics that Russians cybercriminals prefer to the measurable impacts of the Russian Invasion of Ukraine on international cybercrime.David then talks about one of the biggest changes over the last 2-3 years within the online fraud ecosystem, especially those targeting US companies' fraud methods that have grown exponentially. -The biggest threats are no longer external. "The call is coming from inside the house." The fact that the biggest threat actors to online companies & financial institutions are within the borders, by US citizens makes the types of fraud & methods being used much harder to identify than foreign threats. Whether it's identity fraud using stolen or fraudulent identity documents (driver's licenses, passports, etc.), check fraud, or refund claims fraud, American cybercriminals have the most to gain from American businesses. -With very little, if any repercussions.After talking about some of the reasons why internal cybercrime is so much more difficult for fraud detection technology (especially detection technology that hasn't been updated in the last 2 years), Karisse & David talk about what the US government would need to do to even start to get a handle on these issues. But private companies can only do so much, no matter how much they spend to detect fraud; if changes aren't made to the low requirements to obtain identity documentation w/ a fake or stolen identity, there prevention efforts can only detect & prevent so much.David ends the episode with probably the most informative 15 minutes you will hear this week as he talks about the top cybercrime threats he & his team are seeing being discussed and shared within the "criminal underground". From check fraud no longer being preventable by using gel pens to the millions of fake identities that are quietly aging, these new threats remind all of us that this battle to make it more difficult for cyberfraud to be committed is endless; often with more battles lost than won. -But that also highlights the critical importance of collaboration & information sharing, like we do on Fraudology, more than ever.If you don't already follow David on LinkedIn, it will be the smartest decision you make all day: https://www.linkedin.com/in/david-maimon-29343632/To read some of the public research reports, and to learn more about the Evidence Based Cybersecurity Research Group at GSU: https://ebcs.gsu.edu/about/ 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. Get your tickets to Sardine[Con] and end the scamedmicIn this episode of Fraudology, cybercrime expert & head of the Evidenced Based CyberSecurity Research Group at Georgia State University, David Maimon shares insights on collecting data from the darknet, identifying emerging trends systematically, and how the cybercrime industry has changed in the last 5 years.As he describes the various components within the world of cybercrime and online fraud, David starts making the comparison of this world to a deep underwater ecosystem. Throughout the conversation, he continues painting the picture of the factors that feed the continuous changes within the ecosystem, including how the ecosystem responds & adapts to antifraud measures in the industry. (This brilliant analogy might just replace Karisse's "infamous" "Zombie metaphor"!)David also talks about the importance of understanding the entire ecosystem of cybercrime in order to implement the right methods to identify & compete with the "parasites"; and he sheds light on some of the misconceptions surrounding fraud prevention. David & Karisse end this conversation by addressing the misconception that any fraud or identity solution will make a difference in the eco-system, or even on the "organism" you are charged with protecting. The truth is, in some cases, cybercriminals have their favorite fraud & identity detection solutions....and that's not good news for the fraud-fighting industry.Join David & Karisse for Part two of this enlightening conversation Thursday's episode (3-23-23). If you don't already follow David on LinkedIn, it will be the smartest decision you make all day: https://www.linkedin.com/in/david-maimon-29343632/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. Get your tickets to Sardine[Con] and end the scamedmicIn this episode of the Fraudology Podcast, host Karisse Hendrick discusses the importance of having a relationship manager on your side and the true extent of corporate fraud, especially during economic downturns. Additionally, she touches on Facebook's impact on technology and how fraudsters present massive opportunities for them. Overall, the episode delves into the world of payment processing 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.

Fraudology is presented by Sardine. Get your tickets to Sardine[Con] and end the scamedmicIn this special live recording from the MRC event, Karisse Hendrick brings together a group of six merchant fraud fighters to share their experiences and insights from the "Superbowl" of fraud prevention (the annual MRC conference in Las Vegas) in the ever-evolving world of e-commerce. -AFTER 5 full days & nights of information-sharing, collaboration, and fun, these 7 fraud-fighters share some of the highlights of their week...until, admittedly, getting a little "hangry". 🙂Join us as we explore topics ranging from cross-pollination of information to fraud orchestration and dynamic routing for payments, all while keeping our focus on personalized customer experience and staying ahead of the competition. Don't miss out on this engaging and informative discussion! Special thanks to Dajana Gajic-Fisic of JD Sports NA, Alan Buck of Bed, Bath & Beyond, Andrew Austin of CarMax, and the three "secret guests" in the room who are contributed to this fun (and very real example of a) merchant-only conversation.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. Get your tickets to Sardine[Con] and end the scamedmicIn this solo episode, Karisse dives deep into the world of social engineering and how fraudsters use it to gain access to customers' accounts. She explores the motivations behind social engineering and why it's such an effective tool for fraudsters.Karisse also discusses the waves of social engineering attacks that retailers and ecommerce marketplaces with physical goods are experiencing now, and offers tips on how to prevent them. She delves into the most common types of orders that are cancelled and explains why you don't actually have to call a fraudster's bluff.If you're interested in learning more about the dark side of social engineering and how it affects the world of ecommerce and retail, this episode is a must-listen. Tune in now to hear Karisse's insights and expert tips on how to protect yourself and your business from social engineering attacks.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. Get your tickets to Sardine[Con] and end the scamedmicEven if you don't fight fraud for a living - you will enjoy this episode! In this episode of Fraudology, host Karisse Hendrick sits down with Robert Kerbeck, the Author of the book "Ruse: Lying, The American Dream. From Hollywood to Wall Street" to talk about social engineering and how easy it can be to get closely guarded company secrets out of an employee through a simple phone call.Robert lived a life straight out of a movie (And spoiler alert: his life story is on its way to becoming a TV show!). As an aspiring actor, Robert took a mysterious apprenticeship as a corporate spy. He learned fairly quickly that in addition to impressions, he was great at reading people & connecting with them over the phone, to get them to unwittingly divulge some of the biggest secrets about their company. As an actor, Robert had some unbelievable experiences as an actor like drinking with Paul Newman, playing the lead opposite Calista Flockhart in an off-Broadway production, taking J-Lo on a date to a Dodger's game, and working with OJ Simpson a week before the tragic double homicide of his wife Nicole Brown Simpson & her friend, Ron Goldman. But, he came to realize that his real success would be to become one of the world's most skilled, and deceptive practitioners of corporate espionage targeting top firms on Wall Street, Finance, and Silicon Valley to give their competitors inside knowledge.Now that Robert is retired from that life, he's written his book, "Ruse: Lying, The American Dream. From Hollywood to Wall Street" to not only share his sometimes unbelievable stories but also to provide insights into the social engineering tricks that worked to compromise well-intentioned and well-trained employees & executives of some of the biggest companies in the world. There is a lot that the online fraud-fighting world can and should learn from Robert, especially as top social engineers target most of your companies daily with similar attempts to gain the "keys to the kingdom" with their "rusing" techniques. But, knowing their tactics, and providing fun, yet informative training to your teams (especially customer service!), and implementing a few policies & procedures like some of the ones that Robert shares on today's podcast will all help guard your own company's secrets, revenue, and access to your customer's accounts against people with similar skillsets as the one Robert used to use in his former profession. To learn more about Robert, to purchase his book, or to book him for a corporate training session, go to his website: https://www.robertkerbeck.com/He's also active on LinkedIn: https://www.linkedin.com/in/robert-kerbeck-12aa7a11/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. Get your tickets to Sardine[Con] and end the scamedmicFor online fraud-fighters who have been in this industry for more than a decade, we've seen a lot of big changes in the 3rd-party vendor landscape. New technology innovations and additional needs of the buyers, along with a great deal of venture capital funding, have ushered in a lot of new vendor companies, and a lot of competition. In some cases, this competition is important, and in theory, should keep solution providers investing in R&D and continuous innovations to keep up with new fraud tactics & schemes. But what if a new person joined the industry with a lot of experience & knowledge of fraud technology, but who had never been on the e-commerce merchant side? What would their experience & impressions of this sometimes overwhelming & overly competitive space be? How can they even identify who has the best technology if they all say similar things and claim to all work with the same companies? This has been the recent experience of Andrew Austin, Sr. Manager of Fraud Technology at CarMax. After his great conversation with Karisse on Tuesday about his background & an overview on some of the challenging aspects of the auto industry from a fraud perspective, Andrew returned to discuss his experiences with third-party fraud technology solutions and some of the good, bad & the ugly experiences he has had with salespeople for various solutions in the fraud & identity space. Karisse & Andrew also talk about the biggest challenges in the vendor selection process today, while emphasizing the importance of genuine customer relationships and tailoring solutions to each's merchant's needs. They also delve into the process of assessing opportunities, questioning assumptions, and cutting through buzz-word-filled presentations to get to the heart of how problems will be solved (w/o much, or any impact on legitimate users), when evaluating potential fraud prevention solutions. Overall, they stress the need for organic conversations with knowledgeable representatives and avoiding one-size-fits-all solutions in favor of solutions tailored to the specific merchant's needs. This episode is a great one for everyone in sales to listen to, but also merchants as Andrew provides some great tips and a few relatable "horror stories". To connect directly with Andrew (Solicitations will not be responded to):https://www.linkedin.com/in/awaustin/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. Get your tickets to Sardine[Con] and end the scamedmicOn this episode of Fraudology, Andrew Austin, the Senior Manager of Fraud Technology at Carmax, shares his unique career journey & how it prepared him for his current role, overseeing fraud product/technology for the first & largest omnichannel auto dealer in the US. Andrew also talks a bit about creating a "mission statement" for his role, and how it aligns with his company's mission statement of providing an "iconic customer experience". He also provides a good overview of the most common fraud issues impacting the auto industry, especially those around identity (from the 2 different types of synthetic fraud to identity theft), and how the US makes detecting identity fraud much more difficult than other countries. Additionally, Andrew emphasizes the importance of providing "targeted friction" (versus "blanketed friction") and creating customized experiences for different customer personas. Andrew will be back on Fraudology for Thursday's episode, where he & Karisse will talk a bit about a merchant's experience being the target of so much vender attention pre-MRC, provide some "do's & don'ts" to fraud tech salespeople, and Andrew will give a great analogy for the different kinds of "shoppers"/buyers there are when selecting fraud technology for their companies. To connect with Andrew (solicitations will not be responded to): https://www.linkedin.com/in/awaustin/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. Get your tickets to Sardine[Con] and end the scamedmicOne of the main reasons that bad actors continue to innovate & exploit the vulnerabilities of online companies is their commitment to collaboration. They know that one bad actor alone can’t have all of the skills or the time needed to take advantage of multiple systems & steal Billions of dollars annually from e-commerce, marketplace, and consumer-fintech companies online. So, they rely on each other to learn new methods, identify new targets, and utilize new technology (or old) to continually identify the point of least resistance for payment fraud and all areas of abuse that lead to financial & reputational losses. This is one of the reasons why it is critical for online fraud-fighters & leaders in Trust & Safety to continually collaborate with each other, even (and often, especially) with competitors. That’s why the majority of Fortune 500 companies (within e-commerce, online marketplaces, and consumer-focused fintech), along with the solution providers that support & sell to them will soon be meeting in Las Vegas for the annual MRC (Merchant Risk Council) Las Vegas conference. (Or, as Karisse’s husband once referred to it: “Fraud-Nerd Gone Wild!”) This week is the week for fraud-fighters to learn from each other, meet more of each other, be reunited with good friends, learn about new technology, and so much more. But, because so many things occur congruently at this event and it’s also located in a city known for sensory overload, it can be overwhelming to know where you should spend your time & how to make the most out of these 4 short days. So, as a veteran attendee and former staff member of the Merchant Risk Council, Karisse provides “Pro-tips” from her own experiences and observations, as well as a handful of MRC veteran attendees/Fraudology listeners to navigate & make the most out of your attendance. -Both for those seeking education & peer collaboration as their first priority, as well as for those who attend to meet & educate/sell-to fraud-fighters on their company’s technology (aka- Vendors).Whether this is your first or your 10th year attending, this episode will help you identify your main goals for the event & how to maximize your time & energy. And, it’ll probably get you even more excited than you already are to be surrounded by incredibly smart, passionate, and kind people who genuinely spend the majority of their time trying to make the internet a better place. For more information about this event (it’s close to maximum capacity/sold out, as of the night before this episode is released):https://events.merchantriskcouncil.org/event/a09c1185-1949-40b2-bd23-dd23157439d2/summaryTo view the interactive agenda for 2023:https://agenda.merchantriskcouncil.org/a09c1185-1949-40b2-bd23-dd23157439d2?utm_source=web&utm_medium=cvent-agendaFraudology 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. Get your tickets to Sardine[Con] and end the scamedmicOften, leaders of fraud departments will say something to the effect of "My biggest adversaries aren't the bad actors trying to commit fraud against our organization; they're within my company and work within other departments that will often sabotage us or not understand our roles, which can lead to more problems than account or payment fraud does." Whether your internal adversaries are in marketing, business development, e-commerce, operations, development/engineering, or cyber security, chances are, they believe they have a full picture of what your company's customers & accounts look like, and don't understand your team's perspective. Because each team often works in its own silo, with its own data sets from different portions of a customer's journey, they can rarely agree on the root causes of problems, and therefore, can't agree on solutions. Not to mention, each department is often measured by competing metrics (new account #s vs. account integrity, Total $ of sales vs. total $ of chargebacks), causing them to focus on competing projects, often impacting the fraud team downstream unintentionally. What if a fraud fighter at heart (and w/ experience on "the front lines") suddenly got the opportunity to work with all of these competing departments from dozens of companies, identifying commonalities across these departments, that often the fraud dept is only at odds with, and rarely gets to work on anything but immediate problem solving or challenging each other's viewpoints of their customers? Nate Kharrl, CEO at Spec has had such an opportunity in the last year, and joined Karisse on Fraudology today to share some of what he's found are common themes & issues that other departments outside of fraud care about, and why they often struggle to understand the impact of the mission of an online fraud prevention team for e-commerce & consumer-focused fintech companies. Because Spec attaches to an online company's system upstream, it can provide a common source of truth for all departments across the company of the entire customer journey. And even if a fraud team brings in the product for review, it inevitably becomes the envy of any department that has a vested interest in better understanding the full picture of a customer experience. To connect with Nate on LinkedIn to learn more about his observations of members or leaders in other departments, or to "nerd out" on fraud products & technology: https://www.linkedin.com/in/nate-kharrl/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.