Summary: On this episode, Brett & Karisse discuss triangulation. A type of fraud that especially impacts event or attraction ticketing companies, online travel agencies, retailers and anyone with giftcards. First, in the What The Fraud segment, Karisse shares a topic a few retailers have shared with her recently: a steep increase in "lost package" claims. Brett discusses what is most likely the root cause of these claims and Karisse follows up with actions merchants can take to reduce the impact of this to your company. Triangulation occurs when fraudsters purchase items or services from your company (on a stolen payment method) to resell to a consumer for less than retail. The impact to merchants can result in customer service issues when the customer is impacted negatively (the tickets or giftcards are canceled or the customer can't return the item because there is no purchase history between the consumer and the company). Brett shares why this type of fraud is attractive to fraudsters and several examples of their methods depending on the products that are purchased (and an example of how he unknowingly fell for a triangulation scheme as a consumer). Karisse follows up with the impact to CNP companies and various strategies and process changes merchants experiencing this type of fraud can deploy to reduce the impact to their bottom line and to create policies when consumers contact customer service regarding the purchase of stolen products. Let us know what you love about this episode by rating & reviewing this podcast on your podcast app and contact us at info@onlinefraudcast.com with questions, suggestions or feedback. Learn more about your ad choices. Visit podcastchoices.com/adchoices
