Arkose News

Community And Collaboration Are Vital in Preventing Fraud

September 28, 20203 min Read

When fighting fraud, more is better. Cooperation and information sharing between industries is crucial in the ongoing fight against cyberattackers. Just as the fraudsters have an intricately connected ecosystem to help them carry out their plans, so too must businesses work together for the greater good of keeping the internet safe for all. 

That’s why Arkose Labs has always been big supporters of the Merchant Risk Council, and why I’m thrilled to have been named as a member of the MRC’s Fraud Community Group Committee. 

The community aspect of the MRC is one of its great strengths; its efforts to fight and eradicate fraud in e-commerce and enable the growth of the digital economy as a whole are made much stronger by the quality of its members and their respective experience.  Everyone brings something to the conversation and after any MRC event I have ever attended, I always walk away having learned something that I can apply to my business.  On a personal note, I am very excited to be presenting on fraud trends at this year’s MRC Virtual 2020 conference taking place next month. 

One of the main reasons I have made it this far as a young CEO is by collaborating with and leaning on the experience of others.  Collaboration and knowledge sharing are especially critical in the fraud and risk management space and that is why I am inspired by the collaboration and partnership that is the bedrock of everything the MRC does.  

I thoroughly enjoy conversations with my peers around the latest trends in criminal behavior and sharing what we see as a major solution provider in this space working with major brand names across the globe. We are fortunate to work with a cross-section of merchants, gaming companies, travel operators, tech providers, and others across a broad number of use cases.  Fraud and payment risk is rapidly evolving as fraudsters are constantly refining their attack patterns. Arkose Labs as a company, as well as myself personally, benefit greatly from all of the experiences of the merchants we work with, many of whom are MRC members. Creating an online ecosystem where every law-abiding user can shop and interact without fear of cybercrime is my ultimate goal, and that of the MRC’s as well. 

Recommended Blog: Introducing the Bankrupting Fraud Virtual Summit 2020

Perhaps the most admirable trait of the MRC -- and one I share as well -- is it's unfailing devotion to diversity. The MRC constantly seeks to bring a diversity of both opinions and backgrounds to its programs. As someone who has been fortunate to work with, and for, a very diverse set of individuals,  alongside my global travel, I value hearing a variety of different opinions from a varying degree of people. This only helps in our ongoing, collective efforts to fight fraud. 

No one company or person can entirely solve the problem of fraud and abuse; it takes all of us as an industry working together. It’s through our combined experience and knowledge that we as a community will excel and stay one step ahead. We know the bad guys are collaborating, so it’s equally critical we do as well. This is why I believe the MRC’s mission is so important, and why I’m so proud to be a member of the fraud community group committee.