‘What the Fraud?,’ hosted by Doriel Abrahams, examines the latest trends in fraud – from expert interviews and insights to tactics and best practices.
Throughout the episode, Doriel presents a detailed analysis of five distinct fraud schemes he has encountered recently as a fraud fighter. These range from a boozy trend of fraudsters exploiting inventory management systems to manipulating victims through social engineering and advanced technology. The discussion not only highlights the mechanics behind these scams but also the broader implications for both businesses and consumers.
Key Takeaways
- Booze Buy Online Pickup In-Store: Exploits the lag between online and in-store inventory systems, leveraging weak identity verification for profit.
- Gift Card Social Engineering Scams: Utilizes the anonymity of gift cards, targeting less tech-savvy individuals with advanced AI-driven social engineering tactics.
- Continuous Checkout: Abuses the trust and system gaps in continuous checkout features, allowing for unnoticed addition of high-value items post-initial low-value purchase.
- ATO Fishing: Involves hacking into accounts to change shipping addresses, banking on the victims not noticing the change, leading to direct delivery of stolen goods.
- Fake Travel Agent: Offers unrealistically low-priced flights to lure victims, using stolen credit cards for purchase, making it difficult to trace back to the fraudster while harvesting victims’ data for future scams.
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Doriel Abrahams is the Principal Technologist at Forter, where he monitors emerging trends in the fight against fraudsters, including new fraud rings, attacker MOs, rising technologies, etc. His mission is to provide digital commerce leaders with the latest risk intel so they can adapt and get ahead of what’s to come.
Fraud Lab is a growing global community of fraud fighters where you can meet with peers and learn from experts. Fraud Lab aims to offer resources to help fraud fighters connect and further their careers.
To learn more about Fraud Lab, check out: https://fraudlab.com/
