Brian D.’s Post

Surviving a career in fraud isn't easy I’m just trying to make it a little easier for you A lot of it is what I wish I had earlier in my career • fraud tools I wish I had • job board I wish I could have used • content I wish I could have watched • community I wish I could have helped network But it's still often overwhelming where you should start. If you're interested in building a successful career in fraud This is a great first step: https://lnkd.in/eep_rbcJ

Reverse engineering is a powerful tool in fraud. I remember one spike vividly. We were hit with a series of fraudulent transactions shortly after a spike of traffic from a growing market. My team was scrambling to understand the attack. Here's how we reverse engineered the fraud attack: 1. Data collection 2. Understand the attack 3. Mapping out the attack timeline 4. Pattern analysis 5. Hypothesis formation 6. Vulnerability identification 7. Review Impacted accounts 8. Testing and validation 9. Documentation and reporting It's known I hate documentation. It feels tedious. But skipping that final step? A mistake. I learned the hard way that without thorough documentation, getting stakeholders to take you seriously is nearly impossible. They need that detailed report to understand the impact. If they won't listen to you It'll be even harder to get budget for tools. So, no matter how much I hate it I’ve come to appreciate

Battling fraud is all about patterns There's 4 phases I break it down into: • First, you find a fraudster or fraud spike. • Second, measure the impact of associated activity. • Third, you act and try to stop the fraudster (Typically by changing rules or adding new data.) • Fourth, you measure and analyze whether your action had the desired effect. This cycle repeats over and over again.

Not every fraud tool works the same for every business. Even if they all sound the same. Which is why I hate when companies gate keep roles if a candidate has used a tool before. It doesn't necessarily mean it was used remotely the same one or to the same capacity. But I'll finish that rant another day... Choosing the right fraud tools requires a thorough understanding of your business context and specific fraud risks. Here are some key factors to consider: • Industry requirements - Different industries face unique fraud challenges. • Business size - The scale of your business can influence the complexity and scope of your needs. • Regulatory environment - Understanding the legal requirements in your jurisdiction will help ensure compliance and mitigate regulatory risks. • Fraud patterns - Analyze the common fraud patterns to identify the specific tools that can effectively address those threats. • Integration needs - Consider how potential tools integrate with your existing systems. • Support - What are your expectations of working with your partner?

I based my entire career from people who wanted nothing to do with fraud. I was the first fraud hire to take over for a fraud by committee. Was I learning the right skills? Is this how other companies do it? What KPIs should we be tracking? Why should people care about fraud? How do you build a successful career? Honestly, I wasn't confident in any answer to those questions. I was an isolated fraud professional seeking anybody who "got it" But I didn't know where to go. Often, I felt invisible. Over the years, I've built a solid network and community which has helped me get where I am today. If I could go back and give myself a plan, I'd start working on these 7 skills: Skill 1 Fraud subject matter expertise Skill 2 Tool proficiency Skill 3 Strategic thinking Skill 4 Navigating the business Skill 5 Relationship development Skill 6 Influence and persuasion Skill 7 Execution The only reason I'm sharing this is because I'm tired of seeing other fraud experts share fragmented information, 1 skill at a time—becoming proficient in one domain, but missing the bigger picture. Because that’s not going to help you.

I run a curated job board It's a free resource to help fraud experts land their next role in this frustrating market. 1,543 fraud jobs were posted in the first half of 2024 If you know someone looking for their next role, Save them the frustration and send them this. Because I love getting messages like this thehouseoffraud.com ps thank you for sharing it helps bring more fraud fighters into this world

The hardest part about my role is keeping up with all the fraud tools. Luckily About Fraud just released their 2024 H2 Solution Provider Infographic Part of what I do is keep up with the new fraud providers and how they actually can help merchants. I built out a 4-page guide, so you can do it too. Here's the guide: https://lnkd.in/eTvtFZEe I've been using this and it makes it much easier for me to understand the different fraud tools and how they can actually help me. This guide covers 3 main pillars: • understand the fraud tool landscape, • identify your specific needs, • and select the best tools. ps... I hope it helps make finding the right tool just a little easier.