Fraudology is presented by Sardine. Get your tickets to Sardine[Con] and end the scamedmic

In this week's fraud news roundup on the Fraudology Podcast, host Karisse Hendrick delivers critical updates and insights for the e-commerce and fraud prevention community. The episode begins with important clarifications on Visa's Acquiring Monitoring Program (VAMP), detailing how refunds and post-authorization fraud decisions can impact merchants' scores. Karisse then dissects Stripe's controversial new chargeback fee structure, which introduces an additional $15 charge for disputing chargebacks. This change raises important questions about Stripe's incentives and could have significant financial implications for merchants using their platform.

The podcast also covers a major legal development involving Chargebacks911, with CEO Gary Cardone facing RICO allegations for alleged systematic racketeering and deceptive practices. Karisse provides valuable context on the company's history of regulatory issues and discusses the potential industry-wide impact of this case. She then alerts listeners to a new scam spreading in India that exploits banks' "call me with my code" option for one-time passwords, allowing scammers to intercept OTPs through clever call merging tactics. The episode concludes with an update on Telegram founder Pavel Durov's ongoing investigation in France, exploring the broader implications for content moderation and tech company accountability in the fight against online fraud and illegal activities.

Don't miss this opportunity to arm yourself with the latest knowledge in the ongoing battle against online fraud – tune in now and take your fraud prevention strategy to the next level.

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.

Fraudology is presented by Sardine. Get your tickets to Sardine[Con] and end the scamedmic

In this eye-opening episode of the Fraudology Podcast, host Karisse Hendrick dives deep into the controversial new Visa Acquirer Monitoring Program (VAMP) set to launch on April 1st. Fresh from attending the Merchant Risk Council's annual conference in Las Vegas, Karisse shares exclusive insights on how this program is causing major concern among merchants and acquirers.

She breaks down the complex VAMP ratio calculation, explaining how it combines TC40 fraud alerts and TC15 non-fraud disputes, and details the strict new thresholds that could lead to hefty fines. Karisse highlights a crucial last-minute change announced by Visa: popular chargeback deflection methods like Rapid Dispute Resolution (RDR) and CDRN alerts will no longer exclude transactions from the VAMP ratio for fraud-related disputes.

This unexpected shift is leaving many scrambling to adjust their strategies with little time before implementation. The episode also explores potential conflicts of interest, as Visa's Order Insight emerges as the only product capable of deflecting TC40s and TC15s.

Don't miss this critical update on a program that could significantly impact the e-commerce fraud landscape. Tune in now to arm yourself with the knowledge you need to navigate these upcoming changes.

Related Article:

https://www.chargebackgurus.com/blog/visa-announces-new-change-to-vamp-rules

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.

Fraudology is presented by Sardine. Get your tickets to Sardine[Con] and end the scamedmic

Karisse Hendrick sits down with Marc Evans, a seasoned detective specializing in financial crimes and fraud. As the founder of FraudHero, Marc brings a wealth of knowledge from his 13 years in law enforcement, including six years dedicated to investigating financial crimes. The conversation delves into the evolving landscape of fraud, with a particular focus on emerging scams that are devastating businesses and individuals alike.

Marc sheds light on two alarming trends: bank courier scams and employee scams. In bank courier scams, fraudsters impersonate bank officials, convincing victims to hand over their credit cards under the guise of protecting them from fraud. The employee scam, or "corporate mule scam," involves manipulating employees into transferring large sums of money out of their company, often resulting in significant financial losses for businesses. These scams highlight the increasing sophistication of fraudsters who combine social engineering tactics with in-person interactions to execute their schemes.

The episode emphasizes the critical importance of fraud awareness and education. Marc stresses the need for businesses to train their employees on current fraud tactics, not just outdated schemes. He also discusses the value of networking among fraud investigators, law enforcement, and financial institutions to stay ahead of evolving fraud trends.

Don't miss this crucial episode - tune in now to arm yourself with the knowledge to fight fraud effectively!

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.

Fraudology is presented by Sardine. Get your tickets to Sardine[Con] and end the scamedmic

In this episode of Fraudology Karisse Hendrick dives deep into the latest fraud trends and technologies impacting e-commerce and the gig economy. She kicks things off by exploring a powerful new AI tool called Sanas AI that can mask accents and background noise - a technology fraudsters are already exploiting to make scam calls sound more legitimate.

Karisse then unpacks key findings from Incognia's "Frontline Report of Gig Economy Fraud," revealing how bad actors are taking advantage of food delivery apps, ride-sharing platforms, and more through fake accounts, location spoofing, and promotion abuse. The episode also covers an alarming new "South Beach Bust Out Syndicate" targeting auto lenders in Florida with sophisticated loan fraud schemes. Karisse wraps up with an update on Amazon's legal victory against the notorious refund fraud group REC, resulting in a $2.4 million judgment.

Tune in to arm yourself with the latest intelligence on how fraudsters operate and the tools they're using to evade detection.

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.

Fraudology is presented by Sardine. Get your tickets to Sardine[Con] and end the scamedmic

This episode of Fraudology Podcast brings together host Karisse Hendrick and Banking on Fraudology's Hailey Windham for an in-depth analysis of the recently released 2024 Suspicious Activity Reports (SARs). This data-packed discussion reveals troubling trends in the world of financial fraud, with significant increases in account takeovers, identity theft, and wire fraud.

Hailey, drawing from her extensive experience in the banking sector, provides valuable insights into the mechanics of these fraud schemes and the challenges faced by financial institutions in combating them. The hosts explore the role of AI and deep fakes in amplifying the effectiveness of fraud attempts, particularly in the realm of account takeovers and wire fraud. They also delve into the complexities of synthetic identity fraud and its often-overlooked impact on financial institutions.

Throughout the episode, Karisse and Hailey offer practical advice for both consumers and financial professionals on recognizing and preventing various types of fraud. They emphasize the importance of collaboration within the industry and the need for improved technological infrastructure to effectively fight fraud. The conversation takes an interesting turn as they discuss the ethical dilemmas faced by financial institutions when dealing with potential fraud victims who insist on making risky transactions.

Tune in now to arm yourself with knowledge and stay ahead of the fraudsters!

Related Article:

https://frankonfraud.com/new-sar-data-ato-identity-theft-and-wire-fraud-are-up-big/

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.

Fraudology is presented by Sardine. Get your tickets to Sardine[Con] and end the scamedmic

In this episode of Fraudology, host Karisse Hendrick and guest PJ Rohall explore the evolving landscape of fraud prevention communities and conferences. PJ, co-founder of About Fraud and Fraud Fight Club, shares his journey from creating a simple resource aggregator to building a dynamic, multi-faceted platform for fraud fighters. He discusses the challenges and opportunities in connecting professionals across different sectors of the fraud prevention world, from e-commerce to banking to fintech.

The conversation delves into the unique approach of Fraud Fight Club, PJ's conference initiative that aims to redefine industry events. PJ explains how they're creating more intimate, practitioner-focused learning experiences through small group sessions, carefully curated content, and a balanced mix of attendees. He highlights some intriguing session topics for the upcoming event, including deep dives on synthetic identity fraud, AI-driven attacks, and storytelling skills for fraud leaders.

The episode also addresses critical issues facing fraud professionals, such as burnout and work-life balance, with PJ sharing how Fraud Fight Club is incorporating wellness and mental health discussions into the program. This conversation offers valuable insights for anyone working in fraud prevention, from newcomers to seasoned professionals.

Listeners will gain a fresh perspective on networking, professional development, and the importance of community in the fight against fraud. Tune in now and discover how you can engage with the cutting-edge initiatives shaping the future of 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 semi weekly, on Tuesdays and Thursdays.

Fraudology is presented by Sardine. Get your tickets to Sardine[Con] and end the scamedmic

In this episode of the Fraudology Podcast, Karisse Hendrick dives into the world of tools and technologies that fraudsters are repurposing for nefarious purposes. She shares insights from her recent interview with a reporter about AI tools being used both for and against fraud. She explains why seemingly helpful solutions like AI chatbots that waste scammers' time are not scalable enough to make a real impact. The episode then explores two powerful tools fraudsters are leveraging: TextVerified and hyper-disposable email domains.

TextVerified allows scammers to obtain phone numbers that appear legitimate and pass typical fraud checks, enabling them to bypass identity verification systems used by banks and fintechs. Hendrick breaks down how these numbers show up as clean postpaid accounts with tenure, making them nearly indistinguishable from real customer phone numbers. She advises companies to work closely with their phone verification vendors to detect TextVerified numbers.

The episode then shifts to hyper-disposable email domains, a sophisticated evolution of disposable email addresses that only exist for a few days before disappearing. This makes them extremely difficult to blacklist and block. Karisse explains how these domains are being mass-produced to generate millions of fraudulent emails daily, posing a major threat to e-commerce companies and financial institutions. She recommends that businesses consult their email verification providers about identifying these elusive domains. Hendrick wraps up by emphasizing the importance of staying informed about the latest fraud tactics and tools.

Tune in for the latest fraud news!

Related articles:

https://frankonfraud.com/textverified-helps-fraudsters-bypass-banks-phone-verifications/

https://finance.yahoo.com/news/atdata-flags-alarming-fraud-trend-133500766.html

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.

Fraudology is presented by Sardine. Get your tickets to Sardine[Con] and end the scamedmic

In this episode of Fraudology Karisse Hendrick welcomes Patrick Hall, Product Architect at Persona, for an in-depth exploration of the cutting-edge world of online fraud prevention and identity verification. Patrick, with his rich background in fraud fighting at industry giants like DoorDash, Uber, and BlackRock, offers listeners a unique perspective on the challenges and innovations shaping the trust and safety landscape. The conversation kicks off with a deep dive into the complexities of KYC (Know Your Customer) processes in modern marketplaces, revealing how fraudsters exploit vulnerabilities in referral programs and delivery systems.

As the discussion unfolds, Patrick illuminates the rapid evolution of fraud tactics, from easily detectable visual manipulations to sophisticated AI-generated fake IDs that can deceive even trained human eyes. He introduces the concept of "time-based fraud" in delivery services, a growing concern where fraudsters manipulate time-based payment systems for illicit gains. The episode also delves into the critical role of behavioral analysis and pattern recognition in identifying linked fraudulent accounts, showcasing how Persona's innovative graph product helps detect these intricate fraud networks.

Throughout the conversation, Patrick and Karisse address the challenges faced by trust and safety teams in justifying investments and balancing risk management with business growth. They offer valuable insights on building compelling narratives using data to secure executive buy-in for trust and safety initiatives. The episode concludes with a thoughtful discussion on the importance of self-care and maintaining perspective in the relentless fight against fraud.

Don't miss this opportunity to enhance your fraud-fighting toolkit – listen now and join the conversation on protecting digital trust in today's complex online ecosystem.

To Connect with Patrick:

https://www.linkedin.com/in/pathall1/

To register for the upcoming demo/webinar with Persona:

https://crowdcast.io/c/585cz8yzb1ga

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.

Fraudology is presented by Sardine. Get your tickets to Sardine[Con] and end the scamedmic

In this episode of Fraudology, Karisse Hendrick and Erin West, founder of Operation Shamrock, unravel the complex web of pig butchering scams that are draining wealth from Western countries. Erin, a former prosecutor, shares her journey from law enforcement to founding a non-profit dedicated to combating these sophisticated frauds.

The conversation provides listeners with an insider's view of the massive scale of these operations, including eyewitness accounts of sprawling scam compounds in Southeast Asia. Erin and Karisse discuss the multifaceted approach needed to fight these crimes, from improved digital literacy to increased cooperation between tech companies, financial institutions, and law enforcement. The episode also touches on the geopolitical implications of these scams, including their potential to create "cybercrime states" where fraud becomes a significant part of a country's economy.

Listeners will come away with a deeper understanding of the urgent need for action against these scams and practical steps they can take to protect themselves and others. Tune in now and learn how you can make a difference in the fight against pig butchering scams.

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.

Fraudology is presented by Sardine. Get your tickets to Sardine[Con] and end the scamedmic

The latest episode of Fraudology takes listeners on a journey through a multi-million dollar fraud case that spans continents and combines various scam techniques. This episode breaks down a plea agreement involving WeChat auctions of fraudulently obtained gift cards, elder fraud, romance scams, and large-scale Apple product fraud.

Karisse explains how criminals target states with no sales tax, like New Hampshire, to maximize profits and details the intricate process of purchasing genuine products with stolen gift cards, shipping them overseas, and returning counterfeit items for store credit. The podcast sheds light on the staggering scale of the operation, with over $45 million in genuine Apple products purchased and nearly 2,000 counterfeit devices returned. Hendrick also shares insights from industry professionals, discussing the challenges in detecting sophisticated counterfeit products and the complexities of cryptocurrency transactions in fraud schemes.

Don't miss this crucial exploration of modern fraud tactics and their far-reaching implications.

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.