Fraudology Podcast

40 Episodes
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By: Rolled Up Podcast Network

If you work in online fraud prevention, chances are you've caught the "bug". The bug that makes you passionate about identifying & preventing cybercriminals from getting away with stealing from your company, or your client's companies. Most people who have made cyber-fraud their career have the perfect balance of analytical and social skills, a strong sense of justice and the curiosity that will drive you to go down every path of information until you "crack the case". Just like sociology is the study of social behavior, and psychology is the study of human behavior, Fraudology is the science and study of...

Visa Chargeback Changes + NRF Protect Recap
#108
Last Thursday at 8:00 AM

Fraudology is presented by SEON.

A lot has happened in fraud & payments this past week! We can only fit so much into one episode, so today, Karisse will talk about:

A recap of the NRF Protect conference in Cleveland, OH; Karisse will provide highlights & takeaways from the sessions focused on online fraud, presented by CardNotPresent .comProvide answers to the final 2 questions from the MRC Webinar she presented with Uri Arad at Identiq; One question asks about freight forwarders & refund fraud; the other asks about chargeback mitigation strategies for a BNPLA bit of an overview on the...


Preventing Gift Card Fraud w/ Jarrod Price at InComm Payments
#107
Last Tuesday at 5:59 AM

Fraudology is presented by SEON.

For most retailers, gift card fraud has been a continuous challenge. And especially given the tightening of regulations on crypto-currency & the Russian invasion of Ukraine, anonymous, untraceable gift cards are again a popular item with online fraudsters.

Today, Jarrod Price, Director of Fraud Management at InComm Payments joins Fraudology to talk all about gift card fraud.

Some of the most popular methods of fraud targeting gift card fraud, both online and in-storeImportant details to understand about your company's specific gift card fraud problems, and actionable best practices & strategy suggestionsWays...


1st party misuse (Formerly “Friendly Fraud”) Q & A
#106
06/23/2022

Fraudology is presented by SEON.

The industry has long needed a “rebrand” from the term “friendly fraud”. And thanks to the efforts of several people in the industry, the shift from that term to “1st party misuse” is starting to catch on. Especially because “friendly fraud” is no longer concentrated to chargeback claims. We are now seeing other forms of abuse/theft targeting online retailers, with sometimes devastating losses associated. 

Last week, Karisse was on a webinar for the MRC with Uri Arad, co-founder of Identiq talking about “Friendly Fraud 2.0 - Refund claims fraud, “liar buyer”, and promo cod...


Bringing Real World Consequences to Cyber Criminals w/ Robert Capps & Eric Boles
#105
06/21/2022

Fraudology is presented by SEON.

Most online fraud-fighters may daydream about seeing their most prolific fraud rings facing real-world consequences for their crimes. But, very few get to see that kind of justice served. For a variety of factors, most online companies do not have a post-transaction investigation department whose focus is on further investigations to tie all orders & accounts to one ring, identify the person/people behind the screens, and work with federal law enforcement agencies. But, the original Trust & Safety team at StubHub (until 2015) proved it can be done and can provide great benefits to...


Fraud and Budget Stress on the rise
#104
06/16/2022

Fraudology is presented by SEON.

When speaking with several retailers this week, Karisse has noticed several recurring themes. With a recession looming, fraud is increasing. But, is that the only reason they're so stressed out?

This week's topics include:

The stress many merchants are feeling while preparing for the 2023 budget season and why performing a cost/benefit analysis on all expenses may be necessaryTips for solution providers to retain merchant customers for the long term, especially in light of budget concernsAn update on the Seth Green/Bored Ape NFT saga and what this says...


Lessons from a Trust & Safety Pioneer w/ Robert Capps
#103
06/13/2022

Fraudology is presented by SEON.

This week, Karisse is joined by her good friend, and fellow fraud-fighter, Robert Capps. Like most online fraud-fighters, Robert fell into the world of fraud and Trust & Safety by accident. When he finished a network security project for a small startup called StubHub in 2008, he was asked to take on a new issue they were experiencing...online fraud and chargebacks.

This was during a time when marketplaces were new, and had to solve fraud attacks and trust & safety issues as they happened. There were few technology solutions, and not as...


Online Fraud Related Lawsuits - Banks w/ Zelle + OpenSea
#102
06/07/2022

Fraudology is presented by SEON.

Online fraud that isn't prevented, is now keeping lawyers in the US busy!

Over the last month, several class action lawsuits have been filed against banks such as Wells Fargo, Bank of America, Capital One, TD Bank, and others, claiming these financial institutions were aware of the significant fraud risks to consumers, without a method for victims to receive repayment.

https://frankonfraud.com/fraud-trends/a-wave-of-zelle-class-action-lawsuits-hitting-banks/

Lawsuits are also being filed against the largest & most popular marketplace for Crypto and NFTs, OpenSea. Users report loss of stored value NFTs...


The Fundamentals of Fraud & Chargebacks w/Karisse Hendrick
#101
06/07/2022

Fraudology is presented by SEON.

This week's interview episode is a little bit different. Instead of Karisse talking with a fellow fraud-fighter, you get to hear her be interviewed by her podcast producer & founder of the Rolled Up Network, Lucas Walker.

In this conversation, Lucas asks Karisse about the fundamentals of fraud & chargebacks and where to start when your online company receives chargebacks & experiences fraud. In addition, Karisse will talk about:

Using chargeback data to understand gaps in your processes, customer communications, or a need for formal fraud prevention technologyThe different types of fraud...


Episode 100! + Top 3 Online Fraud Threats Now
#100
06/02/2022

Fraudology is presented by SEON.

How did we make it to episode 100?! Thank you to everyone who listens, shares, rates & reviews, and shared their time for an interview! And we are just getting started!

It's no secret that as the economy goes down, online fraud goes up. And we are starting to see that happen. If a "Fraud Hurricane" is headed your way, what are the top 3 areas w/i your online business that are most vulnerable? Karisse will share the top 3 areas that are being targeted most by bad actors correctly. And, by all...


Is Online Fraud "Recession-proof"?
#99
05/26/2022

Fraudology is presented by SEON.

We've all seen the headlines predicting a recession around the corner. And already, a handful of tech companies have announced lay-offs, which we can only assume are the first few "dominos". Uncertainty & fear are tough emotions to navigate. While I can't predict your future, I can provide:

Insight into how the last recession impacted, and changed the online fraud landscapeProvide some well-founded predictions on how this economic downturn may impact online merchants/fintech and solution providers within the industrySome suggestions & advice for how to prepare for this change in the tech...


"Merchants Are From Mars, Vendors are from Venus" Pt. 1
#98
05/24/2022

Fraudology is presented by SEON.

In the online fraud prevention industry, there seem to be two different groups of professionals. Those fighting fraud "on the ground" for merchants, fintech, and/or marketplaces. And, those supporting & often selling anti-fraud technology to them. While both groups are on the same "side" of fraud (preventing it vs. committing it), their perspectives, their career goals, and their communication styles are very different.

In this replay of a an episode that first aired on the "Online FraudCast" in May 2019, Karisse provides a 10,000 foot view of the sales/merchant landscape, and...


Fake Accounts & Bots put Elon Musk's Twitter Acquisition on Hold
#97
05/19/2022

Fraudology is presented by SEON.

Elon Musk putting Twitter acquisition on hold due to fake accounts; It's both a sign of the times, and leads to more questions than answers

https://www.npr.org/2022/05/13/1098741154/elon-musk-twitter-deal-hold-pause

Bolt's Public issues are exposed, providing several lessons to other VC-financed fintech start-ups

https://www.nytimes.com/2022/05/10/business/bolt-start-up-ryan-breslow-investors.html

The one thing a solution provider sales person should never do...unless you don't want to make any salesGoogle's One Click Payment creates a lot of questions for the online fraud & payments industries

https://www...


The Words "Growth" & "Security" Aren't Mutually Exclusive w/ Gil Rosenthal
#96
05/16/2022

Fraudology is presented by SEON.

Gil Rosenthal is back to Fraudology to talk about some of the common "rants" fraud-fighters have. The biggest one being, "Why fraud is not just a cost of doing business". We also talk about:

How we approach conversations with C suite execs who often have this perception, the frustrations & the opportunities when faced with this objection, and why that mindset will often lead to big fraud lossesHow online companies can either be like a "shopping mall" or an "amusement park" (and which makes for a much better customer experience, along w...


Post-Covid Impact on e-Commerce Sales & Fraud rates
#95
05/12/2022

Fraudology is presented by SEON.

Sales volumes online grew rapidly by 30% in 2020 due to the impact of Covid-19 internationally. Now, 2 years later, as the majority of countries & consumers return to "normal", the growth rate of online business is now normalizing.

How annual sales by category are projected to decrease compared to the last 2 years, while some categories will become the strongest by 2025The impact of these rises & decreases may impact company valuations, lay-offs, and cost-cutting; however, fraud attempts are not decreasing at the same ratesWhat these statistics can mean for the online fraud and Trust & Safety...


The Commonalities of Fraud-Fighters w/ Kelly Paxton
#94
05/10/2022

Fraudology is presented by SEON.

There are several types of fraud-fighters, with different focus and skillsets. In most of our case, we fight & prevent fraud on behalf of online companies. Preferably, before the fraud occurs. But, others, investigate cases of internal theft in all areas of business such as embezzlement after the fraud act has been committed.

Kelly Paxton, author of "Embezzlement: How to Detect, Prevent, and Investigate Pink Collar Crime" stops by Fraudology to talk about the similarities of fraud-fighters of all kinds. The host of the "Great Women in Fraud" podcast and "Pink...


The True Cost of Trust in Online Commerce - w/ case studies
#93
05/04/2022

Fraudology is presented by SEON.

More than ever before, consumers are choosing where to spend their money online based on who they like and trust. And while not all trust is lost or built within the fraud or Trust & Safety departments, more merchants are conducting internal studies to understand the impact on their bottom lines based on building or losing customer confidence in their company.

On today's solo episode, Karisse provides 3 real-world, anonymous case studies that top enterprise companies (e-commerce, marketplaces, or fintech) have conducted to understand the price of trust. And the results were...


The Real Challenges in Implementing New Fraud Technology w/ Nate Kharrl of SpecTrust
#92
05/03/2022

Fraudology is presented by SEON.

With fraud tactics ever evolving & innovating, it's important for online companies to also evolve to continually identify & prevent new fraud methods from being successful. But, changing or upgrading fraud technology is much more of a challenge than those outside of a merchant or Fintech company often realize. In today's episode, Nate Kharrl, CEO of SpecTrust talks about his unique career path, and how it led to creating a new product to integrate fraud prevention technology in a more simple way.

 

Fraudology is hosted by Karisse Hendrick, a fraud fighter w...


Diving into Visa's Monitoring Programs: VDMP vs. VFMP
#91
04/28/2022

Fraudology is presented by SEON.

One of the important roles of online fraud-fighters for e-commerce & marketplace companies is to ensure your company's metrics stay below the thresholds for the card brand monitoring programs. If your chargeback & fraud ratios go above the thresholds set by each card brand, your company may face steep fees and fines, and eventually, could face the possibility of accepting credit cards for your website. 

In this solo episode, Karisse will provide:

Information regarding both the "Visa Dispute Monitoring Program" and the "Visa Fraud Monitoring Program". What metrics are considered when a...


Preventing Fraud and Human Crimes w/ Ian Mitchell @ The Knoble
#90
04/26/2022

Fraudology is presented by SEON.

On this episode of the Fraudology podcast, we are joined by Ian Mitchell, a Managing Partner at Omega Fincrime Consultancy and the Founder of The Knoble, a non-profit focused on identifying & preventing the human impact of financial crime.

In this episode, we discuss:

Some of the lessons & observations of a 20-year fraud-fighting veteran of banking fraudHow corporate burnout led Ian to find a newfound passion for seeking justice & helping othersHow financial fraud/crimes fund crimes that impact vulnerable populations of people such as human trafficking, child exploitation, elder abuse...


Adding to the Fraud Story Featured on "Super Pumped"
#89
04/21/2022

Fraudology is presented by SEON.

A specific fraud ring from several years ago was featured on the recent docuseries about the controversial former CEO of Uber, Travis Kalanick titled "Super Pumped" (Showtime). Because it's fairly uncommon for fraud to play a part in storytelling about the tech world, Karisse had to talk about it. Also, she knows a lot more details about the fraud attack mentioned than the television writers did.

What did the show get right, and what didn't they know enough about? How was this specific type of fraud so challenging for apps...


Writing the Book on Fraud Prevention w/ Gilit Saporta & Shoshana Maraney
#88
04/19/2022

Fraudology is presented by SEON.

It may be hard to believe, but the online fraud prevention community has never had a "how to" book w/ foundational information & guidance on practical fraud prevention & analytics for the 20+ years it has been an industry. Until now.

Gilit Saporta (DoubleVerify) and Shoshana Maraney (Identiq) are the authors of the latest book published by O'Reilly Publishing titled "Practical Fraud Prevention: Fraud & AML Analytics for Fintech & ecommerce, using SQL & Python. And today, they joined Fraudology to talk about:

How the book came to be & the overarching goals & themes of the...


Newest Refund Fraud Method Targeting Retailers
#87
04/14/2022

Fraudology is presented by SEON.

Refund fraud continues to be responsible for more than 3x the average enterprise merchant's chargeback losses, and is growing at a rapid pace. In this episode, Karisse:

Provides an overview on why refund fraud is so "easy" to commit, especially for newer fraudsters and GenZ-ers who enjoy gaming the systemGives a high-level overview of refund fraud in general, and why pre-transaction monitoring or "policy abuse" products is not capable of preventing these lossesHighlights the latest refund fraud method top retailers are experiencing and why it's a difficult challenge for merchants to...


Online Fraud: State of Emergency
#86
04/12/2022

Fraudology is presented by SEON.

Online fraud is in a state of emergency. Fraud attempts & losses are up, almost across the industry. New fraud methods & tactics are putting a strain on traditional tools that have worked until recently.

In this solo episode, Karisse shares her perspective on this, along with:

Why is this happening "all-of-a-sudden"? What are the contributing factors to online fraud increasing so rapidly?How are online fraud methods are also evolving in new methods that not all teams are equipped to identify?  Is this a short-term bump, or is this the "n...


Fraud Deep Dive: BNPL (Buy Now Pay Later) Provider Fraud
#85
04/07/2022

Fraudology is presented by SEON.

Last week Karisse talked in-depth about the types of fraud that online merchants need to be aware of when accepting BNPL (Buy Now, Pay Later) payment methods. This week, Karisse talks about:

How bad actors are using marketplaces to find new targets of BNPL fraud The types of fraud that are targeting BNPL providers the mostChallenges in this emerging payment method that need to be faced, for BNPL providers to sustain themselves post-VC funds

Links discussed in the intro:

Virtual FraudCon call for fraud 'war story' talks:<...


PSD2, ATOs, Fraud trends & more w/ 2 co-founders of Ravelin
#84
04/05/2022

Fraudology is presented by SEON.

This week, two co-founders of the fraud tech company Ravelin stopped by Fraudology to "nerd out" on current fraud topics. Mairtin O'Riada and Martin Sweeney met each other when they were working to solve new fraud issues at the UK/EU tech start-up & ride sharing app, Hailo.

When they couldn't find the right solution on the market for their unique issues, they decided to create one in-house. And later, started Ravelin with two others. Karisse and the "Martins" had a lot of fun talking about several areas of fraud including:<...


Fraud Deep Dive: BNPL (Buy Now, Pay Later)
#83
03/31/2022

Fraudology is presented by SEON.

Follow up on the NS8 controversy & why the former CEO Adam Rogas won't be interviewed on FraudologyThe rise of BNPL payment methods & the fraud issues e-commerce companies have experiencedThe fine print to look for in a contract with a BNPL provider + MasterCard's play for BNPL and the hidden expense passed on to CNP merchants

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.

<...


What Fintech Can Learn From Auto Fraud w/ Frank McKenna
#82
03/29/2022

Fraudology is presented by SEON.

In his third appearance on Fraudology, Frank McKenna, the author behind the popular blog "Frank on Fraud" & co-founder of Point Predictive shares the recent statistics shared in Point Predictive's 2022 Auto Fraud Survey, and why auto lending fraud is up 260% since last year!

How are people stealing over $7.7 Billion in cars in the US using the auto loan process?

What lessons can other fintech companies learn from this report, and the fraud issues plaguing the auto lending industry?

Why does Frank believe that the outrageous amounts of...


CEO of Anti-fraud Vendor Pleads Guilty...To Fraud
#81
03/24/2022

Fraudology is presented by SEON.

In September 2020, Adam Rogas, CEO of NS8 was accused of receiving $100 million in investments from VCs for a fraud technology company barely anyone in the anti-fraud community had heard of. He was then arrested & charged with securities fraud & wire fraud for falsifying bank statements to reflect non-existent income from online merchants. (originally covered on episode 5 of the Fraudology podcast)

This week, Adam Rogas plead guilty and is facing up to 20 years in federal prison. In this episode, Karisse provides a full update on the case since it was last in...


How Will Russian Sanctions Increase Cyber Fraud? w/ fmr. USSS agent Robert Villanueva
#80
03/22/2022

Fraudology is presented by SEON.

Cyber & Financial fraud coming from Eastern Europe isn't new. But, in light of the recent Russian invasion of Ukraine, recent international sanctions are greatly impacting the people of Russia. How will this increase or change online fraud & cyber security as we have come to know it?

Robert Villanueva, an expert on Eastern European cyber fraud and a former US Secret Service agent with 25+ years of cyber threat intelligence experience sits down with Karisse to answer the above question & more. Including:

*An overview of his career experience within the...


MRC Vegas '22: Themes & Highlights
#79
03/17/2022

Fraudology is presented by SEON.

Last week, more than 1300 online fraud & payments professionals from the biggest online companies in the world reconnected after 3 long years at MRC Vegas 2022. There was A LOT to catch up & collaborate on.

In this episode, Karisse shares some of the highlights of last week (fraud-fighter karaoke?), as well as themes of conversation and some takeaways from a few educational sessions.

Some of the topics/themes include:

-The new true cost of fraud multiplier for 2022

-An issuer's perspective on current online fraud issues & 1st party...


"Live" From MRC: Identifying Trusted Users W/ Phone Signals - Mary Ann Miller at Prove
#78
03/15/2022

Fraudology is presented by SEON.

At the MRC Vegas '22 conference last week, the host of the Fraudology podcast, Karisse Hendrick presented with veteran fraud-fighter and VP of Customer Experience at Prove, Mary Ann MIller. This episode provides a recording of that presentation.

In this episode, we will cover:

-Current fraud threats to e-commerce, as well as business needs that need to be solved

-Real-world examples of times when identity-proofing wasn't used, as well as a case study in which fraud was stopped, and sales rose

-Unique ways to...


Online Merchant Survey and MRC Vegas
#77
03/10/2022

Fraudology is presented by SEON.

Recorded live from MRC in Vegas, Karisse talks about her new program, and what she's expecting from the conference.

Karisse goes into the data from Ravelin's Online Merchant Perspective Survey. Download your copy here.

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...


Etsy Global Head of Fraud Risk John Matas (part 2)
#76
03/08/2022

Fraudology is presented by SEON.

John Matas, Head of Global Fraud & Risk Operations at Etsy is my guest again today & we had a lot to talk about! 

Part Two of our conversation includes:

Just how expansive the impact of fraud/losses/abuse can be for an online business; extending beyond chargebacksWays to present the business case of the total cost of fraud in ways that leadership will understandWhat John believes are the most important qualities when hiring successful fraud-fightersHis best advice for those interested in staying successful in the fraud prevention industry

To c...


Russian sanctions impacting fraud attempts
#75
03/03/2022

Fraudology is presented by SEON.

On today's episode, Karisse discusses:

Russian sanctions impact online fraud rates; what is being targeted and what to watch for as cyber criminals based in Russia seek ways to monetize American credentials to get around sanctions imposed on RussiaSpecific ATO (Account Takeover) methods to be aware of; (To hear Eli Dominitz, CEO of Q6 Cyber further discuss how ATOs via malware work, listen to Episode 13 of Fraudology from 12-03-2020)Information about the latest scammer/"con woman"/fraudster to make headlines: Danielle MIller; unlike Anna Delvey or Simon Leviev, Danielle did n...


Contributing factors to recent increase in fraud attacks, Investigations, and working w/ Law Enforcement w/ John Matas at Etsy - Part One
#74
03/01/2022

John Matas, Head of Global Fraud & Risk Operations at Etsy is my guest today & we had a lot to talk about! 

This episode is presented by Ravelin.

Part one of our conversation includes:

Some of the adjustments & notable differences he's observed in his transition from a traditional retailer to a growing two-sided marketplaceWhy John believes fraud/losses in-stores & online have increased so dramatically over the last few yearsBenefits & potential pitfalls of post-transaction investigationsTips & challenges in working w/ law enforcement to prosecute bad actors who steal from in-store and online companies

To connect wit...


Tinder Swindler from the perspective of a fraud fighter.
#73
02/24/2022

Fraudology is presented by SEON.

Did you watch Tinder Swindler? Karisse Hendrick finally did and talks about how and why he was successful.

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 semi weekly, on Tuesdays and Thursdays.


Sneaker bots and marketplace malice - Dajana Gajic-Fisic
#72
02/22/2022

Fraudology is presented by SEON.

Dajana Gajic-Fisic, head of ecommerce at JD Sports has become the foremost expert in sneaker bots. She's back on Fraudology to talk about the rise of sneaker bots and their impact on limited drops.

We also welcome our new sponsor Ravelin.

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...


Fraud TV shows reviewed Consumer Fraud Trends Around the World
#71
02/17/2022

In this solo episode of Fraudology, presented by SEON:

Fraud in common TV shows like Inventing Anna, Tinder Swindler, and Generation Hustle.Importance of how we talk about fraudsters given their impact on individuals and businesses.Gift card scams that have been happening recently, and the thread of social engineers coaching scammers.The most recent Bitcoin heistOpinions on rappers

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.

<...


Interview with SEON co-founders Tamas and Bence
#70
02/15/2022

Tamás and Bence, cofounders SEON join Karisse to talk about the industry need that started it all, and how they've grown since.

For the fraud fighters at SEON, it all started when Tamas and Bence met at university in 2016, and bonded over their interest in cryptocurrencies. Their first project together, in fact, was a crypto exchange for the CEE region. Unfortunately, they were soon the target of constant attacks from fraudsters.


PayPal Disclosure Exposes Big Tech for Benefitting from Fraud Attempts
#69
02/10/2022

Fraudology is presented by SEON.

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 semi weekly, on Tuesdays and Thursdays.