Mobile Wallet Fraud: Up 125% Collectively Since Last Year! Plus Apple Pay Liability Shifts & Fraud Tactics

Fraudology is presented by Sardine.In this week's solo episode of Fraudology, host Karisse Hendrick dives into the world of mobile wallet fraud, discussing the rapid growth of Apple Pay, Google Pay, and Samsung Pay usage, and the Rapid YoY growth of fraud losses attributed to these wallets. Karisse provides a deep dive into some of the loopholes & methods on ApplePay, specifically that create opportunities for fraud to occur and explores the fraud liability assignments/shifts for merchants and banks depending on how the wallet is presented/processed, geography, and the card type used to fund the wallet. She also addresses the increasing costs of combating fraud and the impact of COVID-19 on the rise of contactless payments. She also highlights the importance of how fraud detection technology is used & applied, as well as the importance of anonymous surveys for accurate industry metrics to utilize as benchmarking opportunities when presenting internal metrics to leadership.Fraudology is hosted by Karisse Hendrick, a fraud fighter with decades of experience advising hundreds of the biggest ecommerce companies in the world on fraud, chargebacks, and other forms of abuse impacting a company's bottom line. Connect with her on LinkedIn She brings her experience, expertise, and extensive network of experts to this podcast semi weekly, on Tuesdays and Thursdays.Mentioned in this episode:2023-q4-postroll sardine 1