Fraudology is presented by Sardine. Learn more about how their one platform covers you for fraud, compliance, and payments.In this episode of Fraudology, host Karisse Hendrick is joined by her friend and Financial Services Risk expert, Gil Rosenthal to discuss the vulnerabilities and challenges of multifactor authentication. They explore various methods of verification, such as One Time Passwords (OTPs) via SMS or email, authentication apps and magic links, and examine the importance of monitoring unauthorized use claims after MFA was successful for account access or account activity (withdrawals, large purchases, etc.).Gil & Karisse also delve into the indicators used to discover one of the five root causes of spikes in an MFA "attack". Such as, sudden changes in phone companies or a recently updated phone number or email address in an account, and they highlight the importance of analyzing the cause to identify a successful strategy to thwart more attempts. And, they also provide signs to identify when an unauthorized claim was made by the account holder ("1st party"/"friendly" fraud.They wrap up the conversation with a few examples of successful strategies (both technical & process-based updates) to implement to identify & "stop the mouse" in this never-ending Cat-and-Mouse "game"! Join the conversation as they shed light on the evolving tactics fraudsters are using to get around MFA, and the ongoing battle to safeguard user accounts.To connect with Gil Directly (to gain a great person to follow & learn from, learn about his consulting services, and/or his new venture in Financial Services data management & reporting, Choir): https://www.linkedin.com/in/gil-rosenthal/Fraudology is hosted by Karisse Hendrick, a fraud fighter with decades of experience advising hundreds of the biggest ecommerce companies in the world on fraud, chargebacks, and other forms of abuse impacting a company's bottom line. Connect with her on LinkedIn She brings her experience, expertise, and extensive network of experts to this podcast semi weekly, on Tuesdays and Thursdays.Mentioned in this episode:2023-q4-postroll sardine 1