Social Engineering, Compelling Evidence and Fraud Strategy Highlight CNP Expo

Social Engineering, Compelling Evidence and Fraud Strategy Highlight CNP Expo

June 20, 2019

[Editor’s Note: All this month we will be taking a look back at CNP Expo 2019 . Merchants and service providers who attended praised the comprehensive education and networking available to them across the three days of the event. For our readers who were not able to join us, we want to provide a taste of what you missed, and we hope to see you in San Francisco next year. Over the next few weeks, we will provide highlights from each of the Expo’s three information-packed days].

Day 2 of CNP Expo featured the first full day of education sessions, fireside chats, solutions sessions and the week’s first keynote address. Payment conversion, reducing chargebacks, advanced antifraud technology, fraud analytics and how criminals are attacking shipping were just some of the topics on the agenda that day. Here are the highlights:

Live Broadcast

Brett Johnson, who served time in federal prison for defrauding e-commerce merchants, and Karisse Hendrick, a consultant in the space and fraud fighter for various merchants, recorded an episode of their increasingly popular podcast The Online Fraudcast live on the event’s main stage.

The main focus of the episode was social engineering. According to Johnson, criminals go about getting information on the companies they defraud in many ways. The more experienced ones will simply call the companies they are targeting to get the data they need and accomplish other things that make cashing out easier.

“It’s all about building a rapport, causing a diversion and getting them to do something they wouldn’t usually do to give up information, access, data, cash,” he said.

What is “Compelling”?

Day 2 at CNP Expo in San Francisco also featured clarification on what kinds of evidence are actually “compelling” enough to win chargebacks. According to Chris Marchand, “Visa describes compelling evidence as the act of providing proof. The compelling evidence are the data points they allow the merchant to use to prove that the transaction happened.”

When compiling the proof, merchants should first understand what data is usable. Marchand said everything from photos to emails, documentation of communication, proof of delivery, IP addresses and geo-location are all good data points.

In the re-presentment documentation, it is critically important that merchants call the data compelling evidence. “Make it very plain,” said Chima Odunze, payments analyst at Ancestry.com. “You need to make sure the information you are giving is very obvious. If your company does not fight chargebacks, the banks know that, and they will side with the customer more often.”

The Emergence of Fraud Strategists

Fraud strategist is not yet a common title in fraud and risk departments. But, Jessica Doerschuk and Maryann Owens, fraud strategists at PlayStation, said they fulfill the role by forming new partnerships internally and externally to make fraud prevention more robust and stimulate more collaboration within the fraud space and across the industries.

Technical relationships are equally as important as business teams, but fraud strategists also have to build trust with the legal and compliance teams. Because legal doesn’t always know what account take over (ATO) attacks means, it’s important to be able to demonstrate what is actually happening and where the risks are.

“We seek guidance from them, but we also learn from them,” Owens said. “When we propose initiatives, it’s really important that we discuss the guidelines we need to take in mind. It’s an open-ended discussion.”

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Key Findings from CNP Expo

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