Frank McKenna
Frank McKenna is Chief Fraud Strategist at PointPredictive, Inc. Frank is an advocate for fighting fraud and has worked with more than 100 banks, lenders and companies throughout the world, designing strategies, solutions and operational practices that help them reduce costs and increase efficiencies. Connect with Frank on Twitter @frankonfraud.
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What Causes Subscription Chargebacks?
Subscription-based sales can be an excellent way to build long-lasting customer relationships and establish an ongoing revenue stream. Subscriptions build customer loyalty, and that’s according to the metric that matters most—sales. Customers are 75% more likely to make additional purchases from a merchant with whom they already have a subscription or similar...
Fraud Thoughts (Part III)
What's Next? Scam Liability Edition Scams, scams, and more scams. Scams continue to achieve success and show no signs of slowing down - FTC data shows consumers lost $8.8 billion to scams in 2022, up 30% over 2021 losses; I expect 2023 numbers will show continuing growth. And, it's safe to say that we...
Fraud Thoughts (Part II)
What's New? GenAI Edition GenAI is a scorching hot topic. Before we dive into the fraud impacts, let’s get grounded in what it is... Generative AI describes computer algorithms, such as ChatGPT and Midjourney, that can be used to create new content based on simple prompts from the user. Below are some...
Fraud Thoughts (Part I)
Inaugural Edition Welcome to the inaugural edition of Fraud Thoughts - where I will share insights with you from my day-to-day experience across a multitude of fraud topics such as fraud management leading practices, hot issues (like GenAI, and whatever is next!) and cover top fraud stories and trends from across the...
Investment, Acquisitions & IPOs – Q3 2023
Q3 is a wrap! It's time for our quarterly investment update. Dive in to discover the latest funding and acquisitions in the fraud/risk space! Funding Spycloud SpyCloud, a leading identity analytics company specializing in safeguarding digital identities, has successfully closed a $110 million growth round backed by Riverwood Capital, a global investor...
Prepare for Emerging Identity Fraud Schemes and What to Do Next
Identity fraud looms large for every organization. The algorithms and machine learning methods we used to combat fraud are the same types of tools fraudsters can easily deploy. Combined with nefarious, automated bots, cybercriminals are employing sophisticated identity fraud schemes to gain access to consumer accounts or directly create fraudulent accounts with...
AI and Fraud Prevention: Part 4
Mapping the Maze: Integrating AI and Machine Learning into Your Fraud Defence Strategy It is an interdependent partnership. Integrating AI enhanced machine learning (ML) into your existing fraud solutions may feel as complex as constructing a radio from scratch. However, understanding the process can guide you through this integration as smoothly as...
AI and Fraud Prevention: Part 3
How do we crack the conmen’s code: Harnessing the Predictive Power of AI and Machine Learning We need to find the signals that are meaningful. As fraud fighters, we often find ourselves in the role of radio operators. Our main task? To decipher complex patterns - our 'signals' - hidden within the...
AI and Fraud Prevention: Part 2
What is it about AI that can cut through the fog of complex fraud prevention? It “sees” specific bad behavioral patterns more clearly than traditional methods. To many fraud fighters, the promises of technology can often feel like an echo in a cavern—loud, persistent, but hollow. And among these echoes, AI-Enhanced machine...