Episode 15: Reverse Engineering Cyber Criminals’ Tactics

In this episode of the Fraud Technology Podcast, host Ravi interviews Blair Ramsey, a seasoned expert with over two decades in the fraud industry. The discussion centers on the structure and nuances of fraud operations (ops), contrasting it with the technology side of fraud prevention. Ramsey elaborates on how ops teams are structured differently across industries and institutions, and how fraud detection can be triggered by both customer alerts and internal risk rules. He emphasizes the importance of balancing cost efficiency and thorough investigations, as well as the crucial role of customer education in minimizing false positives. The conversation also touches on the integration of AI and machine learning in fraud detection, while highlighting the indispensable role of human judgment in investigative work. Ramsey shares insights from his experience in the gaming industry, drawing parallels with financial services, particularly in handling identity fraud and managing customer expectations. The episode concludes with a discussion on the evolving role of biometrics and consortium-level data in enhancing fraud prevention efforts.