The Anatomy of Payment Methods/Counterfeits
"Alexander Hall has 14 years of experience relevant to fraud and fraud
prevention. A reformed high-level fraudster, Alexander entered the ranks
of fraud prevention in 2017. His fraud prevention strategies have been
successfully applied to over $1b in merchant transactions, resulting in
millions of dollars of mitigated losses. In 2020, Alexander founded
Dispute Defense Consulting and now works with fraud prevention solution
providers around the globe to challenge, refine and expand their
offerings. His unique insight and articles have earned him the title
"Subject Matter Expert" by Card-Not-Present and were the foundation upon
the newly developed "Think Like a Fraudster" Virtual Workshop Course.
Fraud is more than buying stolen credit cards and filling out online checkout forms. As we all know, systems vary greatly with regards to what payment information is required to checkout, if the information is validated, what information is validated, how the information is validated, which process follows the initial checkout, and many more.
The community of fraudsters is aware of the types of validation processes that exist in the world and they work diligently to manipulate them. In this webinar, Alexander will cover the anatomy of payment methods (as soon through the eyes of an effective fraudster).
Starting with cash, he will discuss the primary security measures and a process that was employed to create counterfeits. The process requires patience, less-than-common materials, and hardware, but is less complicated than most might imagine. The second payment method discussed will be checked. Used for online payments, in-store purchases, cashing, profile building, and more. This archaic payment method is versatile in the hands of an effective fraudster. Alexander will dive into the security features found on checks, how counterfeits are produced, and the various ways that stolen checks can be leveraged by fraudsters.
Last payment method? Credit / Debit cards. This familiar piece of plastic possesses a number of security features, caveats, hidden information, and more. Every concerned party is familiar with the concept of low-level fraudsters buying stolen card information online and “Filling-in-the-blank” of an online checkout form, hoping that they followed correctly the instructions that they found online somewhere. Alexander won’t be covering that. Instead, he will be diving into track data manipulation, Counterfeit card creation using card printers and embossers, bypassing security measures in-store to allow for CNP transactions to move to in-person checkouts, and much, much, much more.
- The Anatomy of Cash, checks, and card (as seen through the eyes of a fraudster)
- How various counterfeits are created and passed
- High-Level fraud methods centered around checks
- High-Level fraud methods centered around Credit Cards
Course Level - Intermediate
Who Should Attend
Operations Managers, General Managers, District Managers, CFO, Accountants, Fraud prevention, CTO, Customer Service, CEO, Owner, Sales.
Why Should You Attend
Every company stands to fall victim to some form of fraud. The very premise of business is to offer a product or service in exchange for something else. Fraudsters take advantage of these engagements by leveraging manipulated information and process exploits. Until recently, fraud prevention has been based primarily on the failures of fraudsters. These failures lead to information landing in the hands of the fraud prevention community, followed by prevention tactics and service development.
How can we do better? Learn about the method development processes directly from a high-level fraudster.
As a fraudster, Alexander Hall amassed an operation worth millions of dollars, employed methods against companies across many verticals., operated for a decade, and was never busted. Since changing his life and coming to fraud prevention in 2017, Alexander has been shedding light on his ways of the past and has applied his prevention processes to billions of dollars of transactions, successfully mitigating and preventing millions of dollars in losses.
Upon completion of this webinar, attendees will have the information they need to “Think Like a Fraudster” as they approach their fraud prevention strategy development.
Fraudsters hold a dangerous amount of intimate knowledge regarding the anatomy of various payment methods. By learning the various ways that a fraudster manipulates these pieces of information or produces counterfeits, attendees will have a better understanding of what to look for as they operate.