Fraudology Podcast with Karisse Hendrick

Rolled Up Network
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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!

  1. 6d ago

    The Fall of Crypto ATMs: Bankruptcies, AI Acceleration, and the "Scam Formula"

    In this episode of Fraudology, host Karisse Hendrick welcomes back Marc Evans, a veteran Las Vegas detective and the founder of Fraud Hero. Marc provides an on-the-ground debrief of the rapidly shifting fraud landscape, sharing front-line insights into how criminal organizations are pivoting their tactics as traditional cash-out methods vanish. The conversation explores the dramatic downfall of major crypto ATM networks, highlighted by the recent bankruptcy of Bitcoin Depot, the country's largest operator. Marc details how local regulations and strict transaction caps have inadvertently decimated the crypto ATM business model , proving just how much of their revenue was quietly subsidized by elder abuse and organized crime. We look at what happens when 9,000 machines go offline overnight and how scammers are reacting to losing one of their favorite liquidation tools. We also explore the "hot topics" dominating the fraud landscape today: The AI Social Engineering Force Multiplier: How threat actors are combining generative AI with classic psychological manipulation to automate hyper-realistic phishing, clone voices, and scale scams to unprecedented levels.The Cognitive Bias of Automation: Why our increasing reliance on LLMs to summarize emails and messages is actively dulling human critical thinking, causing professionals and consumers alike to miss glaring red flags.The "Scam Formula" Framework: A breakdown of the universal four-part mechanics—the Hook, the Story, the Urgency, and the Payment —and how the simple mantra of "Pause, Think, Verify" can disrupt a fraudster's spell. Additionally, Marc dives into the terrifying rise of digital extortion targeting a new demographic: teenagers under 17. We break down the latest FBI IC3 data showing how AI-driven sextortion schemes are uniquely impacting youth across the country , highlighting why fraud education must urgently expand beyond senior citizens to protect the next generation.

    47 min

  2. May 19

    AI Hallucinations & Mastercard’s New Scam Thresholds

    In this episode of Fraudology, Karisse Hendrick comes to you from a beachside work-cation in Florida to deliver an essential debrief on the latest shifts in the e-commerce fraud landscape. Fresh off the Accertify Global Customer Summit, Karisse shares key strategic takeaways on why cybersecurity and fraud teams must break down operational silos as fraud signals increasingly move up-funnel. The conversation takes a critical look at the limitations of relying on Large Language Models (LLMs) in risk management. Highlighting a recent blunder where a Top 4 consultancy published a 44-page fraud report riddled with completely fabricated citations and footnotes, Karisse and Dr. Nicola Harding explain why "domain expertise" cannot be automated. Because true fraud insights are kept proprietary to protect them from criminals, open-source AI tools are inherently prone to "hallucinating" facts. We also break down Mastercard's newly announced Scam Merchant Dashboard, which officially goes into effect on July 24th, 2026. This aggressive program places a heavy burden on e-commerce merchants and their acquirers through a multi-trigger framework designed to shut down predatory accounts. Key pillars of Mastercard’s new program include: The Authorization Performance Breakdown: A sudden drop in approval rates—such as a 50 percentage point decline or falling below a 30% overall threshold within a 72-hour window—will immediately trigger an investigation.The New Merchant 5% "Math": For accounts open less than six months, Mastercard is introducing a brand-new metric: combining refunds and chargebacks divided by overall sales. Crossing a 5% threshold over a rolling 30-day period (with at least 500 transactions) risks immediate account review.The 72-Hour Termination Clock: Once flagged by issuer complaints or network alerts, acquirers have a strict 72-hour window to either prove the merchant's legitimacy or completely terminate their ability to accept Mastercard.

    30 min

  3. May 12

    The Strategic Human Firewall: Why Trust is the Greatest Vulnerability in an AI Era

    In this episode of Fraudology, Karisse Hendrick is joined by Robert Siciliano, a world-renowned security analyst, bestselling author, and the architect of the Strategic Human Firewall. While the industry often obsesses over technological solutions, Robert explores why humans—not hackers—remain the ultimate deciding factor in organizational security. The conversation dives deep into the "Human Blind Spot"—our biological instinct to trust that often overrides digital suspicion. Robert shares his unconventional journey from the streets of Boston to becoming a leading security educator, including the time he bought a working ATM on Craigslist to prove how easily data breaches can be purchased. We also explore the critical shift from "Security Awareness" to "Security Appreciation": The Compliance Trap: Why traditional phishing simulations and "check-the-box" training often lead to security fatigue and victim shaming.The Strategic Human Firewall: How to transform employees from passive targets into active detection layers by filtering intent rather than just traffic.The Kitchen Table Effect: Why the most effective security training is personal, encouraging employees to protect their families so they naturally protect their companies.Overcoming Fatalism: A direct look at why people resist security measures like password managers and home alarms, and how to bridge the "Appreciation Gap" through empathetic dialogue.

    55 min

  4. May 5

    Humans in the Loop: Why AI Can’t Replace Your Fraud Strategy

    In this episode of Fraudology, host Karisse Hendrick is joined by a guest she has been trying to bring back to the show for years: Holly Sandberg, a veteran leader in fraud operations, Americas Advisory Board at MRC and the former Director of Trust and Safety at Reverb. As the industry grapples with the rapid rise of Generative AI, Holly and Karisse cut through the "robot takeover" anxiety to provide a grounded, expert perspective on the future of fraud leadership. The conversation explores the evolving mechanics of AI in trust and safety, detailing why the "human element" remains the ultimate force multiplier for technical models. Holly shares why senior fraud leadership cannot be replaced by LLMs, noting that the critical "domain expertise" required to manage sophisticated fraud—and spot model drift—is not found in open-source data. We also explore the "hot topics" dominating the fraud landscape today: The AI Visibility Strategy: Why volunteering for AI steering committees and working cross-functionally is the best way to prove your indispensability to leadership.Hallucinations and Data Gaps: A deep dive into the "bias toward certainty" in AI, featuring a hilarious yet cautionary example of "pizza fraud" hallucinations and the risks of depending on LLMs for math and complex policy.Career Resilience in a Changing Market: Tactical advice on navigating layoffs, the "quiet rehiring" trend, and how to pitch your value for a promotion by focusing on what you will do, rather than just what you’ve done.

    42 min

  5. Apr 28

    Scam Centers, Agentic Commerce Liability, and the Fraud Leadership Crisis

    In this episode of Fraudology, Karisse Hendrick provides a comprehensive update on the shifting tides of the fraud industry, from international takedowns to the growing pains of AI-driven commerce. Karisse dives into the latest news and personal insights gathered from her network, cutting through the industry hype to provide practical realities for fraud and payments professionals. The conversation explores the evolving mechanics of Agentic AI in commerce and how the major card brands are reacting to it. Karisse provides an inside look at new protection frameworks, such as American Express’s "ACE Developer Kit," and contrasts them with the current lack of "compelling evidence" provisions for AI agents at Visa and Mastercard. We also explore the "hot topics" dominating the fraud landscape today: The Scam Center Strike Force: A breakdown of recent DOJ actions against Southeast Asian criminal organizations, the seizure of $700 million in cryptocurrency, and the sobering reality of human trafficking victims trapped in these compounds.The Positive Lure Phishing Scam: Why hackers are spoofing platforms like Paperless Post and Evite to bypass traditional "fear-based" training, using our desire for community to harvest credentials and install malware.The Human Element vs. AI: Why senior fraud leadership cannot be replaced by LLMs. Karisse explains how the critical "domain expertise" and "institutional knowledge" required to manage sophisticated fraud are not found in the open-source data that powers AI. The Fraud Job Market Crisis: A candid look at the recent wave of layoffs affecting veteran fraud fighters, the trend of "pay band reductions," and strategic advice for those navigating a saturated and increasingly centralized job market.

    40 min

  6. Apr 21

    The Fraud Avengers Assemble: A Fraud Fight Club Round 3 Debrief

    The Fraud Avengers Assemble: Inside the Magic of Fraud Fight Club Round 3 In this special reunion episode of Fraudology, Karisse Hendrick is joined by Hailey Windham (Fraud Forward podcast) and Jen Lamont for an authentic, "slumber party style" debrief straight from an Airbnb in Charlotte, North Carolina. After three days at Fraud Fight Club Round 3, the trio cuts through the noise of traditional conferences to discuss why this "unconference" feels like the "Fraud Avengers" have finally assembled to collaborate, rather than just sit through slide decks. The conversation dives deep into the emotional and technical highlights of the event, starting with a powerful keynote from Tracy Hall, a romance scam survivor whose story of a two-year, "in-real-life" relationship challenges every stereotype of fraud victimization. We explore the "last mile" of scams, including the chilling new acronyms parents need to know—like WDYLL and DYS—and why Australia’s aggressive legislative approach to social media and scam liability is setting a global benchmark. Jen Lamont shares the stage with the legendary Marc Evans to break down a fascinating $30,000 "bust-out" fraud case involving a Las Vegas casino, 314B information sharing, and the race against a seven-day security film window. Meanwhile, Haley Windham discusses the "Outnumbered, Not Outmatched" philosophy, detailing how AI and automation are becoming "jet fuel" for lean fraud teams buried under manual reporting and dispute trends. We also explore the "hot topics" dominating the fraud landscape today: The Rise of Ghost Tapping: A deep dive into the new wave of contactless, tokenized fraud hitting luxury merchants and why many banks are only just now connecting the dots.The "Unconference" Magic: Why the most significant industry breakthroughs are happening at Airbnb kitchen tables and through "Nokia phone" claps rather than on the main stage.Cross-Industry Adoption: How the "Merchant Fraud Alliance" (MFA) is set to bring this same level of intense collaboration to the merchant and e-commerce side in Chicago this October.The Human Connection: Why "extroverted networking" and firm handshakes are still the best tools we have to combat fraudsters who communicate better than we do.

    57 min

  7. Apr 14

    AI at Scale: The New Frontier of Identity Theft and Biometric Fraud

    In this episode of Fraudology, Karisse Hendrick welcomes back Ron Zayas, CEO of Ironwall, to discuss the terrifying ways Artificial Intelligence is industrializing fraud. While we often think of AI as a tool for automation, Zayas explains that its true danger lies in its ability to apply human-like logic to stolen data at an unprecedented scale. The conversation dives deep into the mechanics of modern account takeovers, explaining how AI can "guess" password variations by identifying personal patterns across multiple data breaches. We also explore the hidden risks of biometric security, from the vulnerabilities of centralized facial recognition databases to the high error rates of AI models when identifying people of color. Key topics covered in this episode include: Fraud at Scale: How AI moves beyond simple automation to recognize patterns in your passwords and digital behavior to breach accounts across the web.The Biometric Trap: Why storing your facial recognition or fingerprint data with a bank or organization is a permanent risk, and why local storage on your device is the only safe alternative.Biometric Bias and Mistakes: The reality of high error rates in facial recognition for people of color and the harrowing story of a woman arrested for a crime in a state she had never visited due to an AI mismatch.Breaking the Connection: Practical steps to remove your personal information from data brokers and why you should treat your mobile number with the same secrecy as your Social Security number.The Metadata Threat: How a simple photo of your house or the Grand Canyon can leak your exact IP address and physical location to bad actors through hidden metadata.

    37 min

  8. Apr 7

    Inside the Scam Compounds: Erin West’s Cambodian Debrief & the Fight for Accountability

    In this episode of Fraudology, Karisse Hendrick welcomes back Erin West, prosecutor and founder of Operation Shamrock, for an urgent update on the global "scamdemic" of pig butchering. Erin shares firsthand accounts from her recent investigative trip to Cambodia, providing a chilling look at the industrialized nature of transnational organized crime and the massive scale of the scam compounds operating in the region. The conversation explores the recent waves of accountability, including the historic U.S. indictment of Cambodian/Chinese kingpin Chen Ji and the subsequent $15 billion forfeiture—a move that has sent ripples of fear through the industry. Erin details the "Super Bowl effect" she witnessed in Sihanoukville, where compounds appeared shuttered for show while operations continued behind locked metal doors and shuttered windows. We also explore the "hot topics" dominating the fraud landscape today: The GDP of Fraud: How the scam industry now accounts for an estimated 40% to 60% of Cambodia’s GDP, making total eradication a complex economic and humanitarian challenge.Industrialized Deception: Why these compounds resemble corporate training rooms—complete with cubbies for personal phones and strict "fine" schedules for victims—proving this is a highly systemized global industry.The Liability Lever: A look at how platforms like Meta successfully block scam ads in Australia where they face financial liability, while failing to do so in regions where "teeth" in the law are missing.Building the Coalition: How Erin’s crypto-coalition has grown to 2,400 members, bridging the gap between local law enforcement and federal agencies to ensure victims are no longer turned away. Additionally, Erin dives into the heartbreaking reality of the "generation's worth of wealth" being stolen from Western countries to fund "mint-colored Rolls Royces" and garish displays of luxury in Phnom Penh. We conclude with a call to action for fraud professionals to "Train the Trainer," using Operation Shamrock’s resources to educate their own communities and break the echo chamber.

    48 min
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4.8
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38 Ratings

About

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!

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