What The Fraud?

Latest Episodes:

Identity Fraud 2024: Key Stats & Insights Nov 20, 2024

“For an expense of about $1,000 per month, the damage that a fraudster can cause to businesses is upwards of $2.5 million.”

In this special episode of What The Fraud?, Thomas is joined by Ilya Brovin, a growth strategist from Sumsub, to explore the latest insights from their annual Identity Fraud Report and reveals the most significant changes in fraud trends over the past year.

The report provides an in-depth analysis of global identity fraud, based on millions of verification checks and more than three million recorded fraud attempts. Released in conjunction with Identity Fraud Awareness Week (November 17–23), this episode is the perfect opportunity to unpack the critical findings that will help shape your strategies for 2025 and beyond.

Download the full report: https://sumsub.link/0aj

Sumsub's website: sumsub.com

Sumsub's LinkedIn: linkedin.com/sumsub

Sumsub's Facebook: facebook.com/sumsub

Sumsub's Instagram: facebook.com/sumsubcom

Sumsub's YouTube Channel: youtube.com/@sumsubcom

Thomas Taraniuk on LinkedIn: linkedin.com/in/tomtaraniuk

Ilya Brovin on LinkedIn: https://www.linkedin.com/in/ilya-brovin

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Uncovering the Latest Fraud Tactics in iGaming Nov 06, 2024

“The AI model thinks that the user is going to commit fraud at one point. So, it’s mitigating fraud before it even happens, which sounds quite crazy to me.”

In this episode of What The Fraud? Thomas is joined by Kris Galloway, Head of iGaming Product at Sumsub. With an impressive 12 years of experience in the iGaming industry, starting out as a poker player, Kris is the perfect guest for insights into this topic.

Together, Thomas and Kris delve into market growth, tightening regulations, and new technologies that are transforming the iGaming industry for both businesses and players. They discuss the impact of regulatory shifts, market expansion, the adoption of cryptocurrency and most notably, the pivotal role of AI in combating iGaming fraud.

And of course, Thomas and Kris will be sharing their actionable advice for businesses and individuals on staying protected against fraud now and into the future.

Sumsub's website: sumsub.com

Sumsub's LinkedIn: linkedin.com/sumsub

Sumsub's Facebook: facebook.com/sumsub

Sumsub's Instagram: facebook.com/sumsubcom

Sumsub's YouTube Channel: youtube.com/@sumsubcom

Thomas Taraniuk on LinkedIn: linkedin.com/in/tomtaraniuk

Kris Galloway on LinkedIn: https://www.linkedin.com/in/krisgalloway/

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Combating APP Fraud in Fintech Oct 23, 2024

"You ultimately become a victim of your own success because you’re doing really well as a business but scrambling around trying to make sure your compliance can keep up.”

In this fact-filled episode covering APP fraud, Thomas sits down with James Nurse, Managing Director at FINTRAIL, a leading global financial crime consultancy.

Thomas and James unpack recent cases involving Revolut and Coinbase, drawing comparisons between the two. They look at the staggering £459.7 million stolen by criminals in the UK in 2023 and dig into the alarming rise of scams. James also breaks down the UK reimbursement rules, set to be enforced in October 2024, which shift liability to payment providers.

And as always, our guest will be providing their practical advice to businesses and consumers in safeguarding themselves against fraud.

Sumsub's website: sumsub.com

Sumsub's LinkedIn: linkedin.com/sumsub

Sumsub's Facebook: facebook.com/sumsub

Sumsub's Instagram: facebook.com/sumsubcom

Sumsub's YouTube Channel: youtube.com/@sumsubcom

Thomas Taraniuk on LinkedIn: linkedin.com/in/tomtaraniuk

James Nurse on LinkedIn: https://www.linkedin.com/in/jamesnurse/

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Crypto Fraud: Protecting Yourself in 2024 and Beyond Oct 09, 2024

“For those genuine bodies that are out there—work with us and try to get rid of your fear because we’ve got the same fears and we’re trying to stop them.”

In this episode of What The Fraud? we dive into the evolving landscape of crypto fraud in 2024 and beyond with Mark Taylor, Global Head of Financial Crime/ MLRO at CEX.IO.

Thomas and Mark explore the rise of cryptocurrency in 2024, where fraudsters have become more sophisticated, even infiltrating the U.S. election system. They also discuss the alarming trend of AI-driven fraud, including a shocking case where a user lost over $2 million to scammers using deepfake technology to exploit a major crypto exchange.

Sumsub's website: sumsub.com

Sumsub's LinkedIn: linkedin.com/sumsub

Sumsub's Facebook: facebook.com/sumsub

Sumsub's Instagram: facebook.com/sumsubcom

Sumsub's YouTube Channel: youtube.com/@sumsubcom

Sumsub's Travel Rule Course: https://bit.ly/4gQVGPr

Thomas Taraniuk on LinkedIn: linkedin.com/in/tomtaraniuk

Mark Taylor on LinkedIn: https://www.linkedin.com/in/mark-taylor-640b3237/

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Should Fraud Prevention Be Part of a Cybersecurity Strategy? Sep 25, 2024

“I let them know... You messed with the wrong parent.”

Welcome back to What The Fraud? In the first episode of series two, Thomas Taraniuk is joined by world-leading cyber threat intelligence analyst, Charity Wright. Charity works as the ‘Principal Threat Intelligence Consultant’ at cyber security company, Recorded Future, in the United States.

Thomas and Charity take a look at how a leading financial service provider is enhancing its efforts in combating payment fraud. They delve into strategies for effectively integrating fraud prevention into a company's cybersecurity framework and explore how threat intelligence can strengthen anti-fraud measures.

Charity also bravely shares a story involving her teenage son who unfortunately fell victim to a sextortion attack. She’s now on a mission to spread awareness of the fraudsters behind these kinds of attacks and provide essential advice for parents. If you or someone you know has been a victim of sextortion, please visit: stopsextortion.com/get-help/

Sumsub's website: sumsub.com

Sumsub's LinkedIn: linkedin.com/sumsub

Sumsub's Facebook: facebook.com/sumsub

Sumsub's Instagram: facebook.com/sumsubcom

Sumsub's YouTube Channel: youtube.com/@sumsubcom

Sumsub's Fraud Detection & Prevention Solution: https://bit.ly/4h95h4e

Thomas Taraniuk on LinkedIn: linkedin.com/in/tomtaraniuk

Charity Wright on LinkedIn: https://www.linkedin.com/in/cwillhoite/

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Psychology of a Fraudster Jun 05, 2024

“Many people barter their souls for the allure of booze, babes, and bucks!”

In this final episode of What The Fraud? Tom and fraud expert Sophia Carlton get right to the root of the problem – what drives a person, or a group of people, to commit fraud? Is it just the payout? Or are there other things at stake?

Tom discusses with Accenture Fraud Transformation Executive Sophia those ‘Three Bs’, the crucial differences between the individual and the syndicate, and whether it’s possible sympathise with a criminal fraudster?

Sumsub's website: https://sumsub.com/

Sumsub's LinkedIn: https://www.linkedin.com/company/sumsub/

Sumsub's Facebook: https://www.facebook.com/sumsub

Sumsub's Instagram: https://www.instagram.com/sumsubcom

Sumsub's YouTube Channel: https://www.youtube.com/@Sumsubcom

Thomas Taraniuk on LinkedIn: https://www.linkedin.com/in/tomtaraniuk/

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Crypto Fraud May 22, 2024

“The fact that we have seen organized crime move much more into this space... It's not just your individual doing something bad. This is big business.”

In this season’s penultimate episode of What The Fraud?, host Thomas Taraniuk is joined by Vice President of Global Public Policy at Chainalysis, Caroline Malcolm.

Tom and Caroline discuss how fraud has developed in the world of crypto and what the major exchanges are doing to try and stop it – plus, what recent legal changes have the UK made to make it more difficult for criminals to make gains in Crypto?

Sumsub's website: https://sumsub.com/

Sumsub's LinkedIn: https://www.linkedin.com/company/sumsub/

Sumsub's Facebook: https://www.facebook.com/sumsub

Sumsub's Instagram: https://www.instagram.com/sumsubcom

Sumsub's YouTube Channel: https://www.youtube.com/@Sumsubcom

Thomas Taraniuk on LinkedIn: https://www.linkedin.com/in/tomtaraniuk/

This material is for informational purposes only, and may contain forward-looking statements that concern our expectations, strategy, plans or intentions, which are subject to numerous risks and uncertainties. This material is not intended to provide legal, tax, financial, investment, regulatory or other professional advice, nor is it to be relied upon as a professional opinion. Recipients should consult their own advisors before making these types of decisions. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information herein, and assumes no obligation to update any forward-looking statements to reflect any circumstances that may arise after the date such statements are made. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with Recipient’s use of this material.

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Ecommerce Fraud May 08, 2024

“99% of your customers are legitimate… don't put too much friction in place for them just because you're trying to stop that 1%.”

In episode 6 of What The Fraud?, host Thomas Taraniuk is joined by Fraud and Payments Manager at international footwear brand FitFlop, Adam Sherlock.

Tom and Adam discuss the different ways that fraud is perpetrated in the eCommerce industry, how synthetic learning technology can be used to help fight against fraud, and Adam also provides his top three tips to help companies better protect themselves.

Sumsub's website: https://sumsub.com/

Sumsub's LinkedIn: https://www.linkedin.com/company/sumsub/

Sumsub's Facebook: https://www.facebook.com/sumsub

Sumsub's Instagram: https://www.instagram.com/sumsubcom

Sumsub's YouTube Channel: https://www.youtube.com/@Sumsubcom

Thomas Taraniuk on LinkedIn: https://www.linkedin.com/in/tomtaraniuk/

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Romance Fraud: How to spot it whilst online dating Apr 24, 2024

“In person, we have our ideas of who we can trust… online, anyone can be anyone!”

In this episode of What The Fraud?, host Thomas Taraniuk is joined by Associate Professor of Criminology at Kingston University and forensic linguist, Dr Elisabeth Carter.

Tom and Elisabeth discussed the variety of ways that fraudsters can take advantage of vulnerable individuals via social media and dating apps, how AI is making the world of online dating a minefield, and what exactly is an "online guardian"?

What the Fraud? is a Listen Production for Sumsub. For Listen, the producer is Aidan Judd and the exec producer is Kellie Redmond. The exec producer for Sumsub is Mila Varavina.

Sumsub's website: https://sumsub.com/

Sumsub's LinkedIn: https://www.linkedin.com/company/sumsub/

Sumsub's Facebook: https://www.facebook.com/sumsub

Sumsub's Instagram: https://www.instagram.com/sumsubcom

Sumsub's YouTube Channel: https://www.youtube.com/@Sumsubcom

Thomas Taraniuk on LinkedIn: https://www.linkedin.com/in/tomtaraniuk/

Hosted on Acast. See acast.com/privacy for more information.

Fintech Fraud: How It Happens, and How To Fight It Apr 10, 2024

“So I think that's why you, as an organization, should also be regularly testing your controls... pretend to be a fraudster and see what your vulnerabilities are!”

Thomas Taraniuk was joined by Seun Oshinsui, Head of Financial Crime Operations at Mettle, for Episode 4 of What The Fraud?

Tom and Seun discussed the different ways that fraudsters operated in the financial crime sector, and how companies could test their own defences to make sure they were fully protected from criminal operators.

What the Fraud? is a Listen Production for Sumsub. For Listen, the producer is Aidan Judd and the exec producer is Kellie Redmond. The exec producer for Sumsub is Mila Varavina.

Sumsub's website: https://sumsub.com/

Sumsub's LinkedIn: https://www.linkedin.com/company/sumsub/

Sumsub's Facebook: https://www.facebook.com/sumsub

Sumsub's Instagram: https://www.instagram.com/sumsubcom

Sumsub's YouTube Channel: https://www.youtube.com/@Sumsubcom

Thomas Taraniuk on LinkedIn: https://www.linkedin.com/in/tomtaraniuk/

Hosted on Acast. See acast.com/privacy for more information.

Fraud in Gambling Mar 27, 2024

“They will do whatever suits them to get from A to B, and they don’t care who it hurts.”

In Episode 3 of What The Fraud?, host Thomas Taraniuk is joined by lecturer and CEO of We Fight Fraud Dr Nicola Harding.

Thomas and Dr Harding take a look at the threats that the gambling sector currently faces from cybercriminals, and discuss the ways that these gaming corporations can protect themselves and their customers from fraudulent activity.

What the Fraud? is a Listen Production for Sumsub. For Listen, the producer is Aidan Judd and the exec producer is Kellie Redmond. The exec producer for Sumsub is Mila Varavina.

Sumsub's website: https://sumsub.com/

Sumsub's LinkedIn: https://www.linkedin.com/company/sumsub/

Sumsub's Facebook: https://www.facebook.com/sumsub

Sumsub's Instagram: https://www.instagram.com/sumsubcom

Sumsub's YouTube Channel: https://www.youtube.com/@Sumsubcom

Thomas Taraniuk on LinkedIn: https://www.linkedin.com/in/tomtaraniuk/

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Are You Ready For AI-generated fraud? Mar 13, 2024

“It’s not a coincidence, that the World Economic Forum described AI-generated disinformation as THE biggest threat for the global economy.”

In Episode 2 of What The Fraud?, host Thomas Taraniuk is joined by internationally renowned speaker and all-round expert on AI, Walter Pasquarelli

Thomas and Walter make sense of current legislative action against synthetic technologies, where and how fraudulent AI activities can impact a company, and what you can do that protect your company from falling foul of deepfake tricksters.

What the Fraud? is a Listen Production for Sumsub. For Listen, the producers are Aidan Judd and the exec producer is Kellie Redmond. The exec producer for Sumsub is Mila Varavina.

Sumsub's website: https://sumsub.com/

Sumsub's LinkedIn: https://www.linkedin.com/company/sumsub/

Sumsub's Facebook: https://www.facebook.com/sumsub

Sumsub's Instagram: https://www.instagram.com/sumsubcom

Sumsub's YouTube Channel: https://www.youtube.com/@Sumsubcom

Thomas Taraniuk on LinkedIn: https://www.linkedin.com/in/tomtaraniuk/

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2024 Predictions with Peter ‘The Fraud Guy’ Taylor Feb 28, 2024

“Which little piggy are you? The piggy that lives in the straw house, in the wooden house, or are you going to build your organisation up so it’s as strong as a brick house?"

In the first episode of this brand-new podcast series by Sumsub host Thomas Taraniuk is joined by international fraud expert Peter Taylor AKA ‘The Fraud Guy’, a former police detective-turned fraud-buster for major companies.

Thomas and Peter dig into the biggest must-know fraud trends for 2024 revealing some surprising real-life stories along the way. Plus, discover which currency is unexpectedly going out of fashion with cyber criminals, and how humans are key to protecting a company from falling foul of fraudulent action.

What the Fraud? is a Listen Production for Sumsub. For Listen, the producers are Aidan Judd and Georgia Coen and the exec producer is Kellie Redmond. The exec producer for Sumsub is Mila Varavina.

Sumsub's website: https://sumsub.com/

Sumsub's LinkedIn: https://www.linkedin.com/company/sumsub/

Sumsub's Facebook: https://www.facebook.com/sumsub

Sumsub's Instagram: https://www.instagram.com/sumsubcom

Sumsub's YouTube Channel: https://www.youtube.com/@Sumsubcom

Thomas Taraniuk on LinkedIn: https://www.linkedin.com/in/tomtaraniuk/

Mila Varavina on LinkedIn: https://www.linkedin.com/in/liudmila-varavina/

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Introducing... What The Fraud? Feb 13, 2024

Join Thomas Taraniuk in hosting leading minds from the world of AI, fintech, crypto, iGaming, and more. This podcast dives deep into the most pressing issues surrounding digital fraud in business. Each episode dissects key fraud-related issues that companies—both big and small—face today. From deepfakes and identity theft to money mules and forced verification, What The Fraud? is where digital fraudsters meet their match.

This is THE podcast for comprehensive, actionable, and up-to-date information on fraud. Listen in to reveal what you can do to protect yourself and your business.

Don't want to miss an episode? Follow the show now.

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