Here are six minutes of the best moments of CISO Series Video Chat “Hacking Fraud: An hour of critical thinking on identifying fraud’s variances and creating roadblocks to thwart it”.

Watch the full video

Our guests for this discussion were:

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HUGE thanks to our sponsor F5

Best Bad Ideas

Congrats to Mathew Biby, CISO, Satcom Direct for winning this week’s Best Bad Idea.

Other honorable mentions go to:

“De-criminalize Fraud and use it as your Bug Bounty program.” – Craig Hurter, director of security operations, Colorado Governor’s office of information technology

“Charge a Fraud Insurance Fee on every gift card you sell to customers to make up for losses due to fraud.” – Neil Saltman, senior account executive, Anomali

Best quotes from the chatroom

“Typical frequency of use with many loyalty program accounts is low, which makes spotting fraud at the account level challenging as patterns are hard to identify.” – Sandeep Kamble, founder and product manager, AuthSafe

“Most imaginative fraud attempt I’ve seen: Fraudster sent a spoofed email claiming their bank account was compromised by a fraud scam. They requested a bank routing change for all future payables transactions. It worked for that customer.” – Tom Wilcox, founder, FTF Enterprises

“The cost of a comprehensive fraud mitigation strategy is disproportionately high compared to the financial risk of an account being compromised, making it challenging!” – Sandeep Kamble, founder and product manager, AuthSafe