Episode 124

Too many bots, committing too many fraud crimes

Published on: 25th August, 2022

Fraudology is presented by Sardine.

Last week, the online publication ARS Technica published an article covering recent fraud claims from debit cardholders and small online merchants. Based on their research, it became fairly clear that a large number of debit cards issued by at least one major bank had been compromised. And based on the merchant accounts, those cards were being actively tested to create a list of valid card numbers. Given some of the details in the article, it became clear to fraud experts (Karisse included) that this was a scripted attack. Karisse will talk about this specific instance, what can be learned, and what can/should be done by all applicable parties in the CNP eco-system.

This story is just one public example of a trend growing rapidly & anecdotally in conversations Karisse has with Top enterprise online companies. Scripted attacks (aka- bots) are growing in size and capabilities faster than ever before. Karisse will share one of the major reasons why she thinks that is (besides the increased processing power of computer systems), and also lists the type of bots that anti-fraud and Trust & Safety teams should be aware of, and what signs of bots to watch out for. Even if your business hasn't been a target of these bots in the past, that doesn't mean your company will be safe in the future.

Link to the article referenced above: https://arstechnica.com/information-technology/2022/08/wave-of-debit-card-fraud-hits-ally-bank-customers-hacked-vendors/

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.

Mentioned in this episode:

2023-q4-postroll sardine 1

Next Episode All Episodes Previous Episode
Show artwork for Fraudology Podcast with Karisse Hendrick

About the Podcast

Fraudology Podcast with Karisse Hendrick
Join Fraud Fighter Karisse Hendrick twice a week for deep dive interviews and weekly fraud news.
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 fraud.

On the Fraudology podcast, long-time online fraud expert, Karisse Hendrick will dive into all areas of Fraudology from the perspective of a fraud-fighter. With guests ranging from former cybercriminals to fraud-fighters at Fortune 500 companies to law enforcement and others, you will no doubt be entertained, while learning a lot about fraud & other forms of abuse prevention!

Subscribe to be alerted when a new episode is out and please rate & review where you can, to help others find this new & unique podcast!

About your host

Profile picture for Karisse Hendrick

Karisse Hendrick