Fraudology Podcast with Karisse Hendrick

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!

Fraudology Podcast with Karisse Hendrick is a business podcast hosted by Unknown Host, with 0 episodes on record and a Required Pod Score of 87. PitchCentric scores this show on Booking Probability, Listen Score, and live audience signals refreshed every 24 hours.

Unknown Host hosts Fraudology Podcast with Karisse Hendrick, a business show with 0 episodes published.

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  Episode #417

  The One-Shot Phishing Attack

  Aug 20, 202635 min

  Welcome back to Fraudology. I have to tell you I’m genuinely excited about this one. Today’s guest was highly recommended by Matt Vega, someone whose opinion I trust completely in this industry. By the time we finally hit record, we’d already been talking for 45 minutes off air. That’s a pretty good sign this episode is going to deliver. Cy Khormaee spent years at Google, building out what eventually became the company’s user protection platform and the technology that now runs quietly in the background protecting billions of devices worldwide from phishing and malware. He took that experience and eventually founded Aegis.AI, and he just got back from Black Hat, which means he is walking into this conversation with a front-row view of exactly where adversarial AI is heading next. What I wasn’t fully prepared for was how far he was willing to take the demonstration. Cy didn’t just tell me adversarial AI is a growing thread, he showed me, live. Using nothing more than ChatGPT and information freely available online. It’s the kind of moment that changes how you think about a threat you thought you already understood. We cover a lot of ground in this one. And if you work in fraud, trust and safety, or security in any capacity, this is one you’ll want to sit with. What you’ll hear in this episode: Cy's path from Google's user protection platform, home of reCAPTCHA and Safe Browsing, to founding Aegis.AI, and how credential stuffing defense evolved into a hundred-million-dollar business. A live ChatGPT phishing demo where Cy used open source intelligence to research himself and generate a convincing, contextualized phishing email and matching fake conference website in minutes. Why AI phishing attacks have moved from theoretical to fully operational, with real-world state actor phishing tactics now automatable at near-zero cost. The staggering AI phishing email bypass rate statistics: over 50% of emails now slip past existing security email filter bypass controls. Why AI red team fraud thinking, treating AI as a gardener to nurture rather than a carpenter to micromanage, changes how fraud and security teams should actually deploy these tools. How the real Robinhood phishing attack shows why login fraud detection signals and upstream fraud detection AI matter more than ever. Why fraud and cybersecurity convergence isn't optional anymore, and how fraud data sharing across teams closes gaps that adversaries are actively exploiting. How automated sandboxing fraud detection can catch attacks before a user ever clicks, and why carding attack prevention and account takeover detection increasingly rely on the same signals as cybersecurity teams. You should listen to this episode if you: Work in fraud, trust and safety, or security and want to understand how adversarial AI is changing social engineering and phishing attacks. Are responsible for account takeover detection, credential stuffing detection, or synthetic identity risk at a bank, fintech, or merchant. Assumed business email compromise had been mostly solved and need a reality check. Are evaluating AI fraud investigation automation tools and want a clearer sense of what can realistically be automated today. Are trying to build the case internally for fraud and cybersecurity convergence and fraud data sharing across teams.

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  Episode #416

  Organizational Convergence for Fraud: New Benchmarks and What Actually Works

  Aug 13, 202658 min

  Welcome back to Fraudology. Today's a solo episode built around a study that puts a real number on something fraud leaders have been debating for years: does organizational convergence for fraud actually move the needle on performance, or is it just an org chart trend? For years, we've all benchmarked ourselves the same way. Approval rate here, chargeback rate there, maybe a manual review rate if we're being thorough. But the problem I've seen play out in company after company is this: optimize your approval rate, and your chargeback rate quietly creeps up. Optimize your chargeback rate by blocking more, and your approval rate takes the hit. You're never seeing the whole picture, just one lever moving at the expense of the other. The Precise Yes metric is the headline finding from a new Liminal and Accertify study, but the study itself is much bigger than one metric. It surveyed 250 senior fraud, security, and risk leaders across five industry verticals specifically to test the thesis of organizational convergence for fraud and cybersecurity. I walk through what the data says, what forms of convergence actually improve fraud performance, and which ones don't move the needle at all. This is a data-heavy episode, and I mean that as a compliment to the study. If you've ever needed a fraud KPI for CFO reporting that actually captures the full tradeoff between approvals and fraud loss, this is the one to bring back to your team. What you'll hear in this episode: How the Precise Yes metric is calculated, and why approval rate vs chargeback rate alone can hide the real story of your fraud program Why organizational convergence for fraud and cybersecurity is being driven by operational necessity, not executive mandates, and what that means for how teams are actually changing Why login has become the new fraud control point, with account takeover, credential stuffing, and bot attacks all converging at that stage Why 63.6% of organizations still cannot distinguish a cyber attack from a fraud attack in real time, and what that costs them operationally How CISO fraud ownership is showing up earlier in the vendor decision process, and why board level fraud reporting is becoming a real governance topic Why partial integration is the highest-performing model for organizational convergence for fraud, and why pushing to full structural integration can actually erode the domain expertise that makes teams effective Why sharing just two or more use cases between fraud and cyber teams is the real performance tipping point, delivering a 1.5x improvement in fraud performance scores Why separate budgets between fraud and cyber teams actually outperform unified ones, contradicting one of the most common assumptions about convergence How fraud metrics by industry vertical vary, including why ecommerce and retail lead the pack while marketplaces lag significantly behind What the study found on agentic commerce fraud controls and synthetic identity fraud in ecommerce specifically Who should listen: Fraud leaders looking for a fraud KPI for CFO reporting that captures the real tradeoff between approvals and fraud loss. Anyone building a business case for fraud and cybersecurity convergence and needing real data to support it. CISOs and security leaders increasingly involved in fraud tool evaluation and vendor decisions. Fraud teams trying to figure out where to start with shared fraud and cyber use cases without a full reorg. Ecommerce and marketplace fraud professionals wanting an ecommerce fraud benchmarking study to compare their own performance against. Anyone responsible for board level fraud reporting or making the case for fraud visibility at the executive level.

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  Episode #413

  Quarterly Fraud Report 2026: Catching Today’s Fraud While Preparing for Tomorrow’s Schemes

  Jul 23, 202637 min

  Welcome back to Fraudology. Every once in a while I come across a report that makes me stop what I was planning to talk about because it's just that important. This is one of those weeks. Matt Vega recently released his quarterly fraud report 2026, and after reading it, I knew we needed to break it down together. Not because it's predicting what might happen next year. Because every attack covered in this report is already happening. One of the biggest themes running through the report is that fraud is simply moving faster than fraud teams are. AI is making sophisticated attacks cheaper, easier to launch, and much harder to detect. Criminals no longer need deep technical skills when they can rent the tools they need through fraud as a service marketplaces. So what does that actually look like? In this episode, I walk through several of the newest fraud tactics already showing up in the wild, including malware hidden behind fake unsubscribe links, banking malware that can piggyback on a customer's trusted device, and session hijacking techniques that make account takeover fraud incredibly difficult to detect using traditional fraud detection models. At first glance, many of these attacks look legitimate. That's exactly the problem. We also talk about why fraud teams can't rely on individual trust signals like device intelligence, IP reputation, or even behavioral analytics by themselves anymore. Criminals have learned how to blend into legitimate customer behavior, which means our approach to fraud detection and fraud prevention has to evolve too. This is where things get interesting. One of my biggest takeaways from Matt's report is that the answer isn't one new tool or one new model. It's layering better fraud intelligence, sharing information across consortium networks, and understanding the broader cybercrime trends happening outside your own organization. Because by the time a new attack reaches your queue, there's a good chance another company has already seen it. I also spend a few minutes sharing an update on the Merchant Fraud Alliance conference, including our new AI bootcamp that's focused on practical ways fraud teams can start using AI in fraud prevention today. Not because AI replaces fraud analysts, but because it helps good teams move faster. If you work in merchant fraud, banking fraud, online fraud, or e-commerce fraud, this is one of those episodes that will help you recognize the patterns before they become your next incident. What you'll hear in this episode: Why Matt Vega's quarterly fraud report 2026 is one of the most valuable fraud intelligence resources released this year. How AI is accelerating modern cybercrime and making sophisticated attacks accessible through fraud-as-a-service platforms. A breakdown of several emerging fraud tactics already targeting merchants and financial institutions. How unsubscribe phishing campaigns are being used to install malware and keyloggers. Why banking malware is becoming increasingly effective at bypassing traditional fraud controls. How session hijacking enables criminals to perform account takeover fraud from trusted customer devices. Why device intelligence, IP reputation, and behavioral analytics all need to be evaluated together instead of independently. How fraud intelligence sharing and consortium data help organizations identify emerging threats faster. An update on the Merchant Fraud Alliance conference and its new AI in fraud prevention bootcamp. You should listen to this episode if you: Lead fraud, risk, or trust & safety teams. Manage fraud prevention for an ecommerce merchant, fintech, bank, or payments company. Want to stay ahead of the latest cybercrime trends instead of reacting after attacks become widespread. Are evaluating how AI is changing both fraud prevention and AI fraud. Build or manage fraud detection models. Investigate account takeover, synthetic identity, or online fraud. Want practical fraud prevention best practices instead of theoretical discussions. Rely on device intelligence, IP reputation, or behavioral analytics as part of your fraud strategy.

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  Episode #412

  Market Volatility & The Trust Playbook: Navigating Fraud in Two-Sided Marketplaces

  Jul 16, 20261h 7m

  Welcome back to Fraudology. In this episode, I’m sitting down with Mark Porteous, a longtime leader in e-commerce fraud and trust who knows two-sided marketplaces from the inside out. Mark spent nine years at StockX, where he started in customer support before building the company’s fraud program from the ground up. And honestly, that is one of the best ways to learn marketplace fraud prevention because you see the customer complaints, the chargebacks, the seller issues, the account problems, and the policy gaps before anybody has officially decided they belong to a fraud team. We get into what makes online marketplace fraud so different from traditional e-commerce. In a standard retail transaction, the merchant controls the inventory, the pricing, and fulfillment. In a two-sided marketplace, the platform may be trusting one person to sell, another person to buy, and sometimes a third person to deliver the product. Every additional participant creates another identity question, another fraud vector, and another opportunity for marketplace scams or policy abuse. The deeper theme of this episode is market volatility fraud. Prices can change dramatically because of a sports result, a viral release, an artist announcement, a celebrity event, or a sudden shortage. When that happens, legitimate customer behavior changes, but fraudulent behavior changes too. Sellers may decide not to fulfill because they can resell the item for more. Buyers may file friendly fraud chargebacks after prices fall. Stolen cards may be used to purchase high-demand inventory. And risk models that normally work well can suddenly start treating good customers like fraudsters. Marketplace fraud prevention cannot stay on autopilot. Fraud leaders need strong policies, clear escalation playbooks, reliable fraud intelligence, and real collaboration with vendors, data teams, customer support, marketing, product, and leadership. What you’ll hear in this episode: How Mark moved from customer support into building a marketplace fraud program from the ground up. Why two-sided and multi-sided marketplaces create more complex identity, payment, seller, and fulfillment risks. How marketplace pricing volatility can trigger seller non-fulfillment, policy abuse, first-party fraud, and chargebacks. Why World Cup ticket pricing is a real-time example of market volatility fraud. How friendly fraud can increase when buyers repurchase the same item after its secondary-market price drops. Why fraud models and vendor strategies cannot be left on autopilot during high-demand events. How approval rates, false declines, fraud risk scoring, and card-not-present fraud need to be balanced during sudden demand spikes. Why fraud leaders need playbooks, policy enforcement, and clear escalation paths before an unexpected event happens. How to work with marketing, product, growth, finance, customer support, and security without becoming the team that says no to everything. Why strong fraud storytelling must always be supported by fraud analytics and measurable business impact. You should listen to this episode if you: Work in marketplace fraud prevention, trust and safety, fraud operations, or fraud risk management. Manage buyer fraud, seller fraud, marketplace chargebacks, seller verification, or payment fraud prevention. Work for a ticketing, sneaker, collectible, resale, delivery, or multi-sided marketplace. Need a better approach to fraud monitoring during major events, product releases, shortages, or pricing spikes. Want to improve collaboration between fraud, customer support, product, growth, marketing, finance, and security teams.

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  Episode #411

  The Agentic Era: Visa’s OpenAI Partnership, VAMP Pitfalls, and the Threat of Cloned Sites

  Jun 30, 202639 min

  In this episode of Fraudology, Karisse Hendrick provides a comprehensive debrief following the massive shifts in the world of artificial intelligence and digital fraud. Karisse shares her highlights and lowlights from navigating the industry's rapid evolution, cutting through the future-looking hype to provide practical insights for fraud and payments professionals. The conversation explores the evolving mechanics of Agentic AI in commerce, detailing how partnerships like the new Visa and OpenAI infrastructure are designed to make AI commerce a reality. Karisse provides an inside look at why OpenAI previously shelved its original agentic project to avoid becoming a merchant of record, shifting away from full structural ownership due to complex liability rules and low initial adoption. We also explore the "hot topics" dominating the fraud landscape today: The VAMP Threshold "Cliff": How Visa’s monitoring programs offer no "trial" or "safety" months anymore, immediately penalizing merchants the first month they cross thresholds with instant fines and fees per chargeback and TC40. The Complexity of Agentic Chargebacks: Real-world examples of "authorized" AI purchases where merchants are automatically losing disputes because card brands do not yet have established "compelling evidence" rules or representment provisions for AI agents. The Hook of Cloned Sites: Why AI models looking purely for the "best deal" are inadvertently leading consumers straight into elaborate, cloned phishing websites that harvest credit card data and trigger fraudulent descriptors. Additionally, Karisse dives into the latest real-world data from a recent UK case study highlighting how fraudulent duplicate sites for household brands appeared directly inside ChatGPT's search indexes. We break down the immediate operational steps fraud leaders must take to protect their customer service channels and coordinate with IT to combat malicious DNS activity before these automated losses skyrocket.

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