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ReadersSpeak

A manual for fraud fighting anonymity of cryptocurrency transactions makes it
easy for fraudsters to use stolen identities or create
We received a note from the team at Unit synthetic identities.
21, who informed us they'd just released
the Fraud Fighters Manual. Here's what • Chapter 4: Account Takeover—Account takeover is
they said you'll find inside the 168-page a type of fraud that occurs when an attacker gains
guide, which features experts from several big names in access to a user’s account by stealing their login cre-
fintech: dentials. Once inside, the attacker can make unau-
thorized transactions, steal sensitive information, or
• Chapter 1: Know Your Fraudster—We begin the even take over the account completely.
book by introducing the three types of fraud and
the seven archetypes of fraudsters so you can spot • Chapter 5: Fraud Detection 101—Organizations
a fraudster a mile away. By knowing the different must implement various tools to help their risk man-
types of fraud and recognizing the various arche- agement teams catch and prevent fraud. These tools
types of fraudsters, individuals and organizations include sound user onboarding systems, transaction
can identify patterns of behavior that suggest fraud- monitoring tools and case management systems.
ulent activity.
• Chapter 6: Risk Operations—One important aspect
• Chapter 2: Compromised and Synthetic Identi- of risk management involves collaborating with oth-
ties— In Chapter 2 we dive into stolen identities, er departments to ensure that risk is being properly
synthetic identities, and how fraudsters gain access identified and addressed across the organization.
to sensitive information through dark web market- By working together, teams can share information
places, social engineering methods, and deep fakes. and insights that may not be apparent from a single
perspective.
• Chapter 3: Cryptocurrency Fraud—Cryptocurren-
cy fraud is a unique challenge. The decentralized What resources do you rely on?
nature of cryptocurrencies and the lack of regula-
tion in many jurisdictions make it difficult to detect What are your go-to resources for staying up to date
and prevent fraudulent activity. In addition, the on how to prevent fraud on your watch? Fill us in at
greensheet@greensheet.com.

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