Understanding and Avoiding Triangulation Fraud with Soups Ranjan

As consumers, we may realize the need to be vigilant by using
two-factor authentication and password managers, but there are so
many scams out there that can impersonate legitimate
organizations, websites, and people. We really can’t let our
guard down.


Today’s guest is Soups Ranjan. Soups has over 18 years of
experience in software engineering, data science, and risk
management. He is the co-founder and CEO of Sardine. This
behavior-infused platform offers fraud prevention, compliance,
and payment solutions for various industries including banking,
online marketplaces, FinTech, crypto, online gaming, and gift
card exchanges. Previously, Soups led the Risk and Data Science
teams at CoinBase, where he scaled the platform and enabled
millions of users to buy, sell, and store cryptocurrency securely
and efficiently.
Show Notes:

[1:15] - Soups shares his background and information about
his company, Sardine.

[4:30] - He has not been a victim of a scam online but did
experience an in-person scam.

[6:57] - Sardine works with a diverse set of clients. Trends
differ based on the industry. One major trend is an increase in
triangulation fraud.

[9:07] - Once they have card details, they can pretty much do
whatever they want with it.

[11:40] - Even on a contactless card, using tap-to-pay, be
careful. Don’t hand over your device.

[12:43] - It is becoming increasingly difficult to verify the
identities of merchants.

[15:21] - There is a big rise in scams as a result of the
demand for real-time money transfers and exchanges.

[17:45] - Some scammers are instructing victims to install
screen viewers and recording tools.

[19:50] - Machine learning is used to help protect clients.

[21:41] - There are intrinsic behaviors that Sardine monitors
to watch for unusual activity.

[24:41] - Soups describes some of the other types of data
that is observed in addition to behavior.

[27:08] - Soups explains 3D Secure and what the benefits of
this system are.

[30:41] - Dollars lost to scams have far surpassed the
dollars lost to fraud.

[33:37] - The United States is behind in regulatory measures.

[35:59] - It is best to work with banks that take fraud and
scams very seriously.

[37:15] - Soups lists some of the red flags and be on the
lookout for.

[39:44] - It is extremely important to protect your email
address in the same way you protect your bank account.



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