The House of Fraud

Don't pay for a House of Fraud membership. You don't have to. Because we just launched a new Original Series available to everyone. This Week in The House of Fraud focuses on what's top of mind for the community. In the first episode, we cover: • Collusion fraud tactics on marketplaces • Persistent use of checks involving fake business registrations • Insights from our micro masterclass on job scams and how to spot them. So there's some free stuff for you too. Navigating a fraud career is nearly impossible because no on goes to school for fighting fraud. Links: YouTube: https://lnkd.in/eCgtDz-8 Apple: https://lnkd.in/ee5tPcKB Spotify: https://lnkd.in/excgNBti ps want to be apart of the conversations with us? Make sure you apply to join

3 Mistakes people make when hiring their first fraud professional: 1. Underestimating the complexity of fraud analysis. 2. Expecting one person to handle everything. 3. Failing to invest in proper tools and resources.

Did you know we run a matching program connecting fraud experts and leaders every month? On the first of every month, our members receive a new fraud expert to meet. Bringing the fraud community together is a huge task, but our matching program is working on this with one connection at a time. Meet cool people Build meaningful relationships Get matched with another fraud expert and grow your career together. Hope to see you in the August batch Apply here https://lnkd.in/e4uYduXy tldr Navigating a career in fraud is nearly impossible because no one goes to school for fighting fraud. The House of Fraud is an invite-only community for fraud experts. Where they go to build a successful career - together.

It’s funny how little time we spend looking at the issue, and how much we spend looking at the data about the issue. Example: chargebacks. Have you actually tested the cancellation process for your product? Logged in as a user and attempted to cancel. No, but you've probably sliced and diced the data every which way and come up with a hypothesis that a specific cohort is considered friendly fraud. Same goes for identity theft, account takeovers, and promo abuse. We jump to the data before we look at the issue itself. You can't always solve the problem this way, but you can at least understand it better by putting yourself through the customer journey. Start there.

Have you ever considered how much time and money you waste to manual fraud reviews? Here are 7 simple steps to determine what parts of my investigation ops should be automated: 1. Gather historical data 2. Define clear rules and criteria 3. Implement fraud models (if you don't have one) 4. Automate decision-making 5. Incorporate team insights 6. Implement the workflow 7. Train your team Now you don't have to believe it should be 100% automated. Fraud management should be automated, but not human-less. Technology is a powerful ally, but human intelligence remains crucial.

You were a killer fraud fighter. So you get promoted to your first management role. You take all this on. You start to manage. You finally get invited to important meetings Then you take ALLLL the work on of everyone who reports to you. That’s not a recipe for success. You’re going to have to learn delegation. When you delegate, that means they’re not going to do it exactly the way you might’ve. “It’s faster for me to do this, than to show them” only works to a certain point.

High-stakes fraud investigations come with intense pressure. It feels like all eyes on you. Tensions rise. Stakeholders want answers. Every decision feels like a test. If you don't handle it well, the case could fall apart, leading to bigger losses. Stakeholder expectations can be daunting. They want quick, accurate decisions. Making tough decisions in high-pressure situations is now an expected aspect of a fraud expert’s job. Fraud experts thrive on recognizing patterns. The more patterns you identify, the better your intuition.

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. Easily find companies hiring. thehouseoffraud.com ps thank you for sharing it helps bring more fraud fighters into this world

Mastering fraud detection is a blend of technology and human expertise. Don't let anyone tell you otherwise. While technology is an essential tool, it is not foolproof. Automated systems can flag potential fraud, but They cannot replace human judgment and expertise. It's easy to fall into the trap of thinking that once you have the right tools in place, your job is done. Developing a comprehensive understanding of fraud involves more than just knowing the technical aspects. It requires a deep understanding of human behavior, psychology, and the various methods fraudsters use Leverage technology to handle the routine, Free up our skilled analysts to tackle the nuanced cases. Let the fraud experts be the experts.

Investigating fraud under pressure is challenging. High-stakes fraud investigations can be stressful and overwhelming. As a fraud SME, maintaining composure and objectivity is essential for success. Here are 3 ways to help you handle the pressure: • 𝗠𝗮𝗻𝗮𝗴𝗲 𝘀𝘁𝗿𝗲𝘀𝘀: Develop techniques to stay calm, such as mindfulness or breathing exercises. Stress can cloud judgment and affect decision-making. • 𝗣𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝘇𝗲 𝘁𝗮𝘀𝗸𝘀: Efficiently handle investigation tasks by prioritizing the most critical ones first. Time management is key. • 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝗰𝗮𝘁𝗲 𝗰𝗹𝗲𝗮𝗿𝗹𝘆: Maintain clear and concise communication with your team and stakeholders. This ensures everyone is on the same page. Bonus: combine all 3 together for the greatest impact.