Episode 53
Fraud Technology Arms Race Continues - Fraud News
This episode is presented by SEON.
The best way for bad actors to improve the speed & accuracy of their fraud attacks targeting ecommerce and fintech companies, is to continually invest in technology. And that is exactly what we need to be prepared for in 2022.
From stealing access to data sources used by fraud prevention teams to verify identities, to using OTP (One Time Password) Bots to appear legitimate, it's important for fraud teams to understand the resources & innovations on the fraud side.
It's also a good time to assess the accuracy of the end-to-end systems and processes your company uses to identify and prevent bad actors from account takeovers, ID theft, carding, and other forms of abuse that ultimately result in a revenue loss to your company. While bad actors have several advantages in their speed & adaptability, it is possible and necessary for merchants & fintechs to adapt, innovate, and tweak their systems to keep up with fraudster capabilities & technology.
Articles & Sources:
- https://www.vice.com/en/article/k7w7xz/crook-sells-access-transunion-tlo-private-investigators
- https://krebsonsecurity.com/2021/09/the-rise-of-one-time-password-interception-bots/
- https://frankonfraud.com/fraud-trends/this-year-10-fraud-predictions-for-2022/
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.
She brings her experience, expertise, and extensive network of experts to this podcast semi weekly, on Tuesdays and Thursdays.
Mentioned in this episode:
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