Fraud News Roundup: Scams, Application Fraud, and Credit Manipulation

Fraudology Podcast with Karisse Hendrick

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

In this episode of Fraudology Karisse Hendrick dives into the latest fraud news and trends impacting consumers and businesses alike. She kicks things off with a startling statistic - 96% of Americans are targeted by scammers every single week through emails, calls, texts, and social media. Karisse breaks down the different types of scams people face and provides expert tips on how to avoid falling victim.

The episode then explores the surge in application fraud targeting digital banking, with Visa warning of a 244% year-over-year increase in digital document forgeries globally. Karisse explains how criminals are exploiting data breaches and using sophisticated identity theft tactics to commit first-party fraud, bust-out fraud, and third-party fraud. She emphasizes the need for financial institutions to deploy advanced fraud detection platforms and stronger KYC processes.

Karisse also discusses how UK banks are being urged to strengthen anti-fraud measures for international payments, as scammers shift tactics in response to new reimbursement rules. The episode wraps up with a cautionary tale of a tech company sanctioned for facilitating cryptocurrency investment scams, highlighting the risks for businesses that enable fraud, even inadvertently.

Tune in now to stay one step ahead of the scammers!

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.

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She brings her experience, expertise, and extensive network of experts to this podcast semi weekly, on Tuesdays and Thursdays.