ATO Season, Fintech's Fraud Problem & more - Weekly Fraud News

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 https://www.linkedin.com/in/karissehendrick/She brings her experience, expertise, and extensive network of experts to this podcast semi weekly, on Tuesdays and Thursdays. 1. Sift Releases Fraud Rates for Black Friday/Cyber Monday weekend showing a HUGE increase in account takeover attempts, which is aligned with unofficial reports Karisse has received from several merchants & Fintechs; Check out their infographic for more details:https://blog.sift.com/2021/infographic-2021-seasonal-fraud-data-black-friday-cyber-monday/2. "Fintech's Fraud Problem: Why some merchants are shunning digital banks" in Forbes this week is an in-depth article on high fraud issues many digital/"Neo" banks are experiencing and that impact on the greater payment ecosystem, including ecommerce merchants that often are financially responsible for fraud losses, despite the perceived "fault". This article is a good jumping off point for some of Karisse's observations when fraud and growth for VC-funded companies are at odds, and what can often happen to risk & financial loss, especially in these high-growth phases. For more information:https://www.forbes.com/sites/elizahaverstock/2021/12/03/fintechs-fraud-problem-why-some-merchants-are-shunning-digital-bank-cards/?sh=6dce951775bd3. Karisse mentions a new trend that keeps coming up in conversations with merchants & fintechs across many verticals. Right now it's just a theory, but one to watch out for. She'll provide more details as they're available. Mentioned in this episode:2023-q4-preroll sardine 12023-q4-postroll sardine 1