In order to fight fraud effectively, and know what to expect as a fraud fighter, it's important to have some level of understanding of how the "bad guys" work. For almost 20 years, the economy and value chain of these fraudsters has remained the same, with little changes. However, thanks to several factors including the impacts of a global pandemic, new business models, and resources, the fraud economy & value chain are being flipped on its' head.    In this episode, Karisse talks to Chase Park, Founder of Whisper Defense, a consulting firm that provides intelligence & insight to online retailers based on his unprecedented access to the highest levels of online fraud communities. Karisse & Chase have teamed up to work with enterprise retailers recently on refund fraud education and prevention. They also discuss how the fraud economy has changed over the last several months and how they are moving towards providing Fraud-As-A-Service.    In addition to refunding fraud, Chase describes a new phenomenon called "Buy4U" that is targetting the same customers online that most e-commerce companies are targetting with marketing and social media blitzes. -But offering a retailer's products or services for deep discounts, sometimes up to 85% off, at the retailer's expense. If you are not aware of the proliferation of Buy4U offerings for your company, this is an important episode to listen to. And if you are a consumer, it is important to know how "Buy4U really works, despite the advertisers not wanting to share their "secrets". That bargain you saw online, may actually be stolen goods that enable cybercriminals to fund other crimes and activity.    For more in-depth information and examples of how refunding fraud works, check out the webinar Chase & Karisse presented to CNP subscribers recently: https://www.youtube.com/embed/S4hOiTbtywg     And to download a PDF with even more information about the 5 different types of refunding, as well as an FAQ, go to: www.ChargelyticsConsulting.com/contact   You can also request to book an assessment call with Chase & Karisse for more information specific to your company.    Thanks again to the episode sponsor, Sift!  Visit www.sift.com/Fraudology to learn more about how Sift enables Digital Trust & Safety

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