Most Terminology Is The Same, But That's About It; Banking vs. e-commerce Fraud

Fraudology is presented by Sardine.

Can fraud experience in the banking industry easily transition you on to the e-commerce side of fraud? What about Vice Versa?

In this episode of Fraudology, Karisse is on the road for another client trip. After presenting a training to the employees of a FraudTech vendor that supports banks, Financial Institutions, and Fintechs, she shares one of the concepts she talked about in the training course.

-How, even though most of the terminology is the same in both areas of fraud prevention/revenue integrity, for the most part, that's where the similarities end. She talks about how the differences in consumer behavior, the nature of the consumer/entity relationship, regulations (like KYC), the differences in data collected, and the very nature of the items being protected/stolen require very different ways of thinking about detection. And, for the most part, they require different types of tools to identify fraudulent behavior.

These comparisons created a great conversation when Karisse was presenting it to this group in person, so she hopes you appreciate the comparisons, and the opportunity to think more about the different skills, technology, and knowledge needed for each sector online (and multi-channel).

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:

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