Here Are 3 Qualities All Great Fraud Managers Have
My name is Frank McKenna. I am a fraud consultant here in San Diego California. I have had the chance to work with over 25 banks, lenders, and companies helping them build their fraud prevention strategies. I often get asked to help organizations assess their talent in the fraud group. Banks have a really difficult […]
5 Reasons Working In Anti Fraud Is The Best Job Ever
In 1990, I was fresh out of college working in a dead-end job as a customer service operator for a credit card company. My shift started at 5 am. Every morning at 4 am, I would pull myself out of bed, drive to that job, strap on that dreaded headset, and start answering calls. They […]
10 Fraud Worst Practices And How To Avoid Them
No one is perfect. Mistakes are hard to avoid and they can cost us a lot of money when we make them. But they don’t have to be. What if I told you that I could save you millions and millions of dollars by telling you 10 Mistakes that I see banks make in their fraud […]
How a Bad Suit Led to My First Job in Fraud
Thank God for bad suits. Sometimes they can lead to really incredible things. Well, that’s how I look at it anyway. This is a story of how a bad suit led to a bad job interview which caused me to get rejected for a job that eventually helped me realize my dream. – A job […]
13 Things Only OldTime Fraud Managers Can Appreciate
Cigarettes, gun slinging and messing around with fax machines – such was the life of a fraud professional back in the good old days. And by good old days, I’m talking about the ’90s. Not the 1890’s – the 1990’s – many years ago. All you young hip fraud managers have no idea how good […]
Don’t Ever Let Them Take Your Fraud Fighting Spirit
You were born to do this. You live for it. You’re a fraud fighter and you always have been. Whether you’re an investigator, fraud analyst, fraud manager, or fraud technology creator you love your job. You bounce up out of bed in the morning ready to make a difference; ready to stop some bad guys […]
The 11 Types of Fraud Analyst You Meet
In my travels, I have met with thousands of fraud analysts across the world. I can honestly say, they are some of the most interesting people that I have ever met. Do you work in a fraud department? What do you think of some of the personality types and characters you meet at work? Well, […]
Global Fraud Fighter Travels To 38 Countries to Stop Fraud
Her name is Maryann Miller. She lives in a small flat in the ultra hip Williamsburg New York but you will rarely find her there. Good luck trying to track her down. She could literally be anywhere in the world, and often is. Maryann’s travel schedule is so intense that people have compared her to George Clooney […]
5 Reasons Why You Need To Hire A Great Fraud Manager
In some companies, fraud is often considered just a support function. They hire a fraud investigator or two. Those investigators field incoming calls from customers that are victims of identity theft, and that’s about it. The companies view on fraud is not strategic and they often don’t consider hiring a great leader to help them […]
7 Tell Tale Signs That You’re A True Fraud Fighter
In this world, there is an army of fraud fighters that have the true calling. They eat, sleep and breathe fraud prevention. It might sound strange, but their drive to fight fraud is so pervasive that it becomes a passion and not just a job. When they clock into work each day time flies […]
10 Ways To Increase Your Fraud Management Magic
Fraud Managers are quite often the only ones standing between an army of fraudsters at the gates and the crown jewels of their company. It’s an important job to keep your companies money safe from scammers, fraudsters, and thieves. And that’s why they need to be on their toes and constantly perfect their craft. So how […]
Fraud Data Scientist – 7 Ways To Turbo Boost Your Models
Machine Learning is driving huge gains in efficiency and innovation in fraud detection. Behind those gains are Fraud Data Scientists – women and men that train machines to find fraud faster and more accurately by using vast databases of historic transactions to spot patterns of fraud. I have always admired Fraud Data Scientist because […]
6 Ways “The CEO” Will Wreck Your Fraud Strategy
I have always told fraud strategist that the biggest risks to their overall strategy is having their boss’s boss’s boss start meddling in their strategy. Inevitably, their fraud rules and strategies are going to decline someone (or perhaps not decline someone) and that’s going to get escalated to the “executive office”. It’s there that the […]
The Many Many Risk Fraud Managers Must Manage
It used to be so simple. Back in the 80’s, fraud managers jobs were pretty straightforward – make sure that you stop bad checks from being written and occasionally if someone lost their charge card make sure you shut it down quickly before a bad guy found it and tried to buy a Sony Walkman […]
6 Mistakes Banks Make That They Always Regret Later
After working with over 200 Banks, I start to see a lot of the same patterns repeating themselves over and over again. Some of those things are good, and some are bad, and still others are very very bad. Here are some of the most common mistakes. If you are bank and you are […]
Income Verification Alarming Lenders During Shutdown
The global Covid 19 pandemic is creating significant issues for mortgage, auto, and personal lenders. At least 160 million people nationwide have been ordered to stay home. With 1 in 5 American’s under quarantine, business and government offices all over the country have shuttered and will continue to be closed for weeks. Unemployment is Spiking […]
5 Unexpected Benefits of Fighting Fraud From Home
I’m home. I’m working. I’m working at home. Such is our new way of life fraud fighters. And there are few if any exceptions. Much of the world is on lockdown as we humans collectively fight off this virus together. And we can fight fraud together too. We know that fraudsters love chaos and they […]
The Worst Fraud Project I Had In The History of Ever
In 2007, I was assigned to a 1 week project in Southern California. I was hired to help perform due diligence for a mortgage investor to identify if there were any fraud in loan files that they were about to purchase. I was a little apprehensive at first, because I had never looked in a […]
Why Consumers Need Fraud Experts To Help Them
Banking customers accounts are hacked or compromised all the time. That includes their credit cards, debit cards, and even online banking. Fraudsters can drain those accounts in a matter of a few minutes, often while the customer is sleeping or completely unaware of what is happening. When the customer gets their monthly statement, they are […]
How Robotic Process Automation Can Help in Fraud
There is a new buzzword in town and it’s called RPA. And it means Robotic Process Automation. And it is catching steam. If you’re a fraud professional and want to be in the know, you really need to understand what it means to you. If 2016 was known for big data, and 2017 was known […]
7 Ways You Can Help End Human Suffering in Fraud
Matt Friedman is a man on a mission. His goal in life is to reduce human suffering caused by trafficking. For 30 years he has fought modern slavery. He travels the world on planes, endlessly speaking, educating and persuading others to do the same. He gave 150 presentations in the last year alone. I met […]