How Data Breaches are Fueling Financial Fraud Online with Karisse Hendrick

Banking on Fraudology

Banking on Fraudology is presented by Unit21.

Unit21’s Risk and Compliance Infrastructure empowers your team to proactively combat financial crime and make informed decisions throughout the customer lifecycle.

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Welcome to another riveting episode of "Banking On Fraudology." I'm your host, Hailey Windham, joined by our special guest, industry expert Karisse Hendrick. In today's episode, we're diving into a staggering compilation of recent data breaches and their potential impact on both the financial and e-commerce sectors. From a mass release of 10 billion passwords to a crippling vendor breach affecting 15,000 car dealerships, and even AT&T's exposure of call logs from 127 million U.S. citizens, we'll explore the subsequent ripple effects and the advanced methods fraudsters employ to exploit this data.

Together, Karisse and I will discuss the broader implications of leaked data, highlighting real-world examples such as the Snowflake breach and the concerning trends seen at Evolve Bank. We’ll also examine how fintech companies and banks can navigate these challenges by recalibrating their security measures, conducting thorough risk assessments, and enhancing monitoring. Plus, we’ll touch on the increasing sophistication of ransomware attacks, the complexities of supply chain breaches, and the critical need for collaboration between issuers and merchants.

Whether you're a banking professional, a fintech enthusiast, or just someone keen on staying ahead of cyber threats, this episode is packed with insights you won't want to miss. So sit back, take notes, and let’s dive deep into the ever-evolving world of fraudology. Don't forget to connect with us on LinkedIn and send in your questions for upcoming "Ask Us Anything" episodes!

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About Hailey Windham:

As a 2023 CU Rockstar Recipient, Hailey Windham, CFCS (Certified Financial Crimes Specialist) demonstrated unbounding passion for educating her community, organization and credit union membership on scams in the market and best practices to avoid them. She has implemented several programs within her previous organizations that aim at holistically learning about how to prevent and detect fraud targeted at membership and employees.

Windham’s initiatives to build strong relationships and partnerships throughout the credit union community and industry experts have led to countless success stories. Her applied knowledge of payments system programs combined with her experience in fraud investigations offers practical concepts that are transferable, no matter the organization’s size.

Connect with Hailey on LinkedIn: https://www.linkedin.com/in/hailey-windham/

Banking on Fraudology is part of the Fraudology Podcast Network.