I’m sharing the presentation I gave to open the Merchant Fraud Alliance conference in Chicago. It was a “where are we right now” look at the fraud attack landscape, and it grew out of a question I heard from merchants all through the conference. What is actually different about fraud today, and how much of it comes down to AI?
If you work in e-commerce fraud, you have probably felt the shift in your own numbers. Generative AI has changed who can attack, how quickly they can do it, and how well the attacks blend in with good customers. I walk through how AI fraud looks from the ten thousand foot view I get from talking with so many merchants, and I pair it with fraud prevention ideas you can take back to your own team and your own leadership.
What you’ll hear in this episode:
Why fraud has been industrialized, and how AI lowers the cost, skill, and time needed to attack e-commerce at scale
The headline numbers, including fraud pressure up 33% year over year, account takeover up 78%, card testing up 175%, and BOPIS fraud up 65%
How the EMV chip shift in 2015 and the rise of account takeover compare with what AI is doing to the fraud attack landscape today
Why AI-powered account takeover keeps climbing, and how generative AI makes phishing cheap to personalize
How AI card testing attacks differ from old scripts, including how agents sort cards and adapt to your controls
How one campaign can move from identity to checkout to customer support to disputes, and why event-based controls miss it
Why evidence is now cheap to fake, from fake receipts and identity documents to fake damage photos and deepfakes
What a dark web card marketplace demo shows about how easy it is to buy the pieces of an attack
How to fight AI with AI fraud detection using session-level data, telemetry, device ID, and behavioral biometrics
You should listen to this episode if you:
Need to explain fraud increases to leadership and want current numbers to bring with you
Have seen a sudden rise in account takeover or card testing, or heard from your processor about the Visa enumeration program
Deal with refund fraud or chargebacks involving photos, receipts, or item not received claims
Are evaluating fraud prevention tools and wondering why snapshot-based controls keep missing attacks
Want to hear how merchants are using generative AI to spot AI-written scams
Couldn’t attend the Merchant Fraud Alliance and want to hear how the conference opened
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