“When was the last time your company engaged with a fraudster to discover vulnerabilities?”

This is a question that I frequently ask merchants, financial service providers, fellow fraud prevention vendors.

Surprise! The answer is, “Never”.

But, that’s not necessarily true.

Sophisticated fraudsters are consistently experimenting and trying new things with various platforms and systems. The problem is: Big data doesn’t doesn’t track one-off’s and experimentation. 

What if you could bring a person on-board who specializes in identifying vulnerabilities and potential exploits? 

What if your company could finally get ahead of the bad guys?

What if your current system could be stress-tested to simulate various tactics from “the other side”?

Well now you can!

All jokes aside, there is unquestionable value in hiring a former fraudster to assist with the refinement of your current fraud prevention strategy.

I’ve put together a process that:

• Covers every touchpoint across the CX journey
• Considers all of the information that is digested / verified
• Challenges the current system by walking through the method development process from my past
• And more.

Whether you work in crypto, fintech, ecommerce, a financial institution, iGaming platform, or otherwise, a fraudster knows to view all of it the same way:

“An opportunity to make a request accompanied with compromised information to steal things.”

What you offer makes no difference, the process is exactly the same: A request accompanied by information.

Crypto? A request to make an account, accompanied by compromised identity information

Funding the account? A request to add funds accompanied by compromised banking information; ACH, Credit/Debit, 3rd-party, etc.

ECommerce ATOs? A request to log into an account using compromised login information

Making purchases? A request to checkout, accompanied by compromised payment details.

Issuing bank? A request for a line of credit accompanied by compromised identity information.

iGaming? A request to make an account accompanied by identity information.

……they are all the same, and effective fraudsters are armed with mountains of compromised data.

How confident are you in your strategy?

Build your confidence by getting answers.

Be proactive, my friends.