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In Control with Natasha Vernier
The In Control podcast explores the finance of everything, through conversations with people who’ve done it, built it, or experienced it firsthand. Join host Natasha Vernier, Founder of Cable, as she sits down with leaders, innovators, and experts across the financial industry to explore how it all really works. The focus is on learning aloud and making complex topics accessible.
In Control with Natasha Vernier
Can we Actually Ever Reduce Fraud? with Yuliya Kazakevich
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Consumer losses from fraud jumped from $3.4B to $12.5B between 2020-2024. That's a 270% increase! Should we be worried about what lies ahead?
Back when I was Head of Financial Crime at Monzo, I watched fraudsters pump tens of thousands of pounds of petrol using cards with just £100 on them. We had their names, addresses, photos - everything! But the police didn't know what to do with it.
And that was before AI changed everything.
Now Yuliya Kazakevich, who's led fraud teams at Charles Schwab, Apple, Adyen, Cash App, and Lithic, is watching fraud evolve in ways that genuinely concern her.
And if someone with her experience is worried, we should all be paying attention!
It was great to welcome Yuliya on the pod to discuss all of this. Here’s what we covered:
- Whether AI companies should be liable for enabling fraudsters
- Why JP Morgan is opening more branches
- How AI is scaling fraud to terrifying new levels
- The shift from unauthorised to authorised fraud
- How law enforcement is overwhelmed and under-resourced to tackle fraud
Fraud is evolving faster than we can keep up - and we need to start paying attention.