My very first job was building models to catch credit card fraud, at that time we were most concerned with counterfeited cards, then lost/ stolen cards, and in third place at best came identity fraud. It was an emerging threat, and we were hearing word of the likes of Hunter being rolled out in the bigger markets, but we were able to keep a pretty good handle on it with a system my boss had cobbled together in an Access database.

Then online channels started to emerge, but they were so insignificant early on that we could throw countless extra checks at those, not worrying if - and indeed hoping that - applicants would get fed up and apply via traditional channels instead. And that was only twenty years ago. Today, though, the fraud landscape is very, very different. Chip and PIN has got a grip on counterfeit fraud, and identity fraud has become far more complicated.

“And I've said this many, many times: when you really sit down and think about it, identity in the digital world... it is broken in many ways”

In this episode of HTLMTS I speak to John Cannon of Oakford Consulting about the changes that have occurred in fraud prevention over the last few decades, and about what it takes to defend an organisation against fraud today.

You can contact John Cannon via his LinkedIn page or by emailing him at [email protected]

You can find out more about me on my LinkedIn page, here

If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me at [email protected]

A full written transcript with timestamps can be found on HowtoLendMoneytoStrangers.Show

Hosted on Acast. See acast.com/privacy for more information.