What The Fraud?
What The Fraud? is a podcast hosted by Thomas Taraniuk of Sumsub that explores digital fraud in business. Each episode features leading experts from AI, fintech, crypto, iGaming and related fields to unpack the most pressing fraud issues companies face today. Topics range from deepfakes and identity theft to money mules and forced verification. Produced by Sumsub with This Is Distorted, it aims to give listeners comprehensive, actionable and up-to-date insight on how to protect themselves and their businesses from digital fraudsters.
Episodes
Is Anyone Too Smart to Be Scammed?
“Is anyone too smart to be scammed… or are we all just one bad moment away?”We all like to think we'd spot a scam a mile off. But vulnerability has far less to do with intelligence than with timing, emotion, and context, and fraudsters know exactly how to exploit all three.Welcome to the new season of What the Fraud, and to our brand-new host, investigative journalist Vicky Baker. This season,
Season 6 of What The Fraud?
Meet Vicky Baker, the new host of What The Fraud? from Sumsub.An investigative journalist specialising in fraudsters and con artists, Vicky is fascinated by the stories beneath the scams. The trust people place in others, the psychology behind manipulation, and the moments when a lie becomes believable.In season six, What The Fraud? looks beyond the technology and headline figures to explore the p
Building Trust in Africa’s Digital Economy
“Customers don't choose between security and convenience. They expect both."Africa's payments, banking, and digital commerce ecosystem is expanding at extraordinary speed, and fraud is scaling right alongside it. In this special episode of What the Fraud?, recorded live at Seamless Africa in Johannesburg, Chantal Lamprecht from Sumsub sits down with leaders across telecoms, mobile mon
The New Front Lines of Financial Crime in Africa
"The fraudsters have the same AI tools we do. The difference is who uses them faster."Africa's payments, banking, and digital commerce ecosystem is expanding at extraordinary speed, and fraud is scaling right alongside it. In this special episode of What The Fraud?, recorded live at Seamless Africa in Johannesburg, Chantal Lamprecht from Sumsub sits down with leaders across crypto, legal, and iGam
Bury the Blockchain: Crypto's Fight for Trust
Cryptocurrency didn't invent financial fraud, but it changed how money moves and how criminals exploit it. Now, with new US legislation on the table, the industry faces a bigger question: can a system built on decentralization ever become trusted infrastructure?In this episode of What The Fraud, Tom sits down with the hosts of Crypto in America: Eleanor Terrett, Jacquelyn Melinek, and Gerald Galla
Cash Out: Fraud's Final Act
"What happens when the moment of truth isn't onboarding - it's the moment the money moves?"Businesses pour resources into KYC, fraud modelling, and onboarding checks. But fraud doesn't really happen until the money goes out, and by then, it's often too late to get it back.This week's guest is Apurva Shrivastava, Product Lead for Global Payments Product at Amazon. He breaks down why payout fraud is
Designing for Trust in the Age of Agents — Money20/20 Europe
For Part 2 of our special coverage from Money20/20 Europe in Amsterdam, we continue the conversation on AI, trust, and fraud with a fresh set of leaders from across digital banking, payments, and regulation. Where Part 1 focused on AI transformation at scale, this episode digs into invisible banking, digital identity, agentic commerce, and the regulatory frameworks needed to make cross-border paym
Adapt or Fall Behind - AI & Fraud Insights from Money20/20 Europe
Recorded live on the floor of Money20/20 Europe in Amsterdam, this special episode of What the Fraud? brings together some of the sharpest minds in fintech to tackle the questions that matter most right now: how do you deploy AI at scale, build trust with users, fight increasingly sophisticated fraud, and keep growing without getting left behind?Direct from the Sumsub booth, Thomas Taraniuk, Head
Account Takeover: When Trust Gets Hijacked
Account takeovers have become one of the biggest challenges in fraud prevention.In this episode of What The Fraud, Tom is joined by Suz Lynch, Head of Financial Crime, and Paul Marsden, Head of Risk at Monavate, to explore how fraudsters gain access to trusted accounts, why account takeovers are becoming harder to detect, and how businesses can respond.From behavioural monitoring and AI-driven sca
Building Crypto Infrastructure — Insights from Consensus Miami
“What does it really take to move digital assets from hype to institutional infrastructure?”At Consensus Miami 2026, one theme stood out clearly: digital finance is moving from experimentation to infrastructure. Institutions are no longer just exploring blockchain… they are actively rebuilding how money is moved, secured, and governed.In part 2 of this special episode of What the Fraud?, Anastasia
Scaling Trust in Crypto — Insights from Consensus Miami
In Part 1 of our What the Fraud? special from Consensus Miami 2026, we explore how crypto is moving beyond early adoption and into mainstream finance. From regulation and compliance to payments and user growth, the conversation focuses on what it takes to scale digital assets safely in the real world.Direct from the Sumsub booth at Consensus Miami, Anastasia Shvechkova, Sales Director Americas at
Fraud at the World Cup: When Volume Turns into Vulnerability
“What happens when the world’s biggest sporting event becomes the perfect environment for fraud to scale?”World Cup Betting KYC: https://sumsub.link/21fThe World Cup isn’t just a global celebration of football, it’s one of the largest betting events on the planet. And where volume, velocity, and global participation collide, fraud doesn’t just appear… it accelerates.Our guest this week is Ludovico
Gaming the System: The Rise of First Party Fraud
“What happens when the fraudster isn’t a stranger… but your own customer?”Fraud Prevention Course: https://sumsub.link/2qiBusinesses spend millions verifying identities, onboarding users, and preventing external attacks. But one of the fastest-growing threats now comes from inside the perimeter: legitimate customers exploiting refunds, disputes, chargebacks, subscriptions, and reimbursement s
When Systems Become the Target: The New Era of Fraud
“Fraud is no longer about convincing a human… it’s about feeding a system.”Fraud is evolving fast. No longer limited to fake documents or stolen identities, today’s attackers are targeting the very infrastructure designed to stop them, exploiting workflows, reverse engineering systems, and operating at machine speed.In this episode, we explore how fraud has shifted from human deception to system m
Know Your Agent: The New Frontier of Fraud Prevention
"What happens when an attacker gains control of your AI agent and the outside world believes everything it does... is you?"AI agents are already booking travel, managing calendars, and handling day-to-day tasks for millions of people. But as they gain access to our accounts, finances, and personal data, a new question emerges: how do you tell a legitimate agent from a hijacked one?Our guest this w
Synthetic Identities: When Data Becomes a Persona
“What happens when a fraudster doesn’t steal an identity… but builds one from scratch?”Synthetic identities are one of the fastest-growing threats in financial crime. Built from fragments of real and fabricated data, these identities can pass onboarding checks, behave like legitimate users for months or even years, and then suddenly “bust out”, leaving businesses with significant losses.Our specia
iGaming Fraud Insights – ICE Barcelona Part 2
Fraud in iGaming is shaping how operators grow, how regulators respond, and where investors place bets. Recorded live at ICE Barcelona in partnership with the C-Suite Podcast, this is Part 2 of our special What The Fraud? series on the widening global fraud landscape in iGaming.Kris Galloway, iGaming Product Evangelist at Sumsub, took over hosting duties and he was joined by: Daniel Xavier, C
iGaming Fraud Insights – ICE Barcelona Part 1
Unlicensed operators and AI-enabled fraud are scaling faster than most safeguards. Regulators, operators, and tech providers are being forced to rethink what “player protection” actually means, and how to enforce it across borders. This is Part 1 of 2 special episodes of the What The Fraud? podcast, recorded live at ICE Barcelona.Guest host Kris Galloway, iGaming Product Evangelist speaks with Ola
An Ex-Fraudster's Guide to Staying Safe
"We can't possibly think of victims as being stupid." We often think of fraud victims as gullible or careless. But what if the real story is about ruthless targeting by increasingly sophisticated criminals? What if AI, deepfakes and quantum computing are making it impossible to tell what's real anymore?Our guest in this episode is Alex Wood, counter fraud expert, international keynote speaker, par
Inside Sumsub's 2025 Identity Fraud Report
"Last year, only one in 10 fraud attempts were sophisticated enough to fool modern verification systems. This year, that number's nearly tripled. Amateur fraudsters are out and professionals who know exactly how to beat our defences are in."The fraud landscape is undergoing a complete transformation. Whilst overall fraud attempts have dropped by 50%, the attacks that do occur are nearly three time
APAC Fraud Insights: Singapore WTF? Summit - Part 2
The fraudsters have already figured out what most financial institutions haven't yet: silos don't work. While your fraud team, cyber team and compliance team operate independently with separate tools and data, criminals are exploiting the gaps between them at an industrial scale.This is part two of two special episodes recorded live at the WTF? Summit in Singapore. Host Thomas Taraniuk sits down w
APAC Fraud Insights: Singapore WTF? Summit - Part 1
The financial crime battlefield is shifting. What used to be separate fights against fraud and money laundering has merged into one coordinated attack on the global financial system. As scammers drain accounts and launder proceeds through mule networks faster than banks can respond, APAC is becoming ground zero for a new kind of financial warfare.Recorded live at the WTF? Summit in Singapore, this
Glovo's Fraud Playbook: From Free Lunches to Money Laundering
"Fraud is a lot more popular today than it was 10 years ago simply because today you can advertise fraud on TikTok, Snapchat, whatever platform, and you can just have tutorials on how to gamify anything you want at your doorstep."We think of fraudsters as criminals behind laptops, draining accounts without conscience. But what about that free lunch you claimed on your delivery app or the refund yo
When Growth Meets Guardrails at Money20/20 Part 2
Fraud got faster. Your strategy has to be smarter. So what do leaders who rethink risk do to stay ahead?For part two of this special episode of What the Fraud?, Sumsub’s Sales Director, Americas, Anastasia Shvechkova, sits down with five operators who are scaling trust without slowing growth.Recorded live at Money20/20 USA, this episode brings insight from leaders at Standard Chartered, Ebanx, ACA
Fast Payments, Hard Trust: AI and Fraud at Money20/20 Part 1
Fast payments raise hard trust questions. Live from Money20/20 USA in Las Vegas, we sat down with leaders reshaping fraud, AML, and compliance, turning the AI hype into an operational reality.For this special episode of What the Fraud?, Sumsub’s Sales Director, Americas, Anastasia Shvechkova, steps in as host to pull highlights from the show floor, in partnership with the C-Suite podcast team.This
Inside Coinbase: Hunting Crypto Scammers
“When I get in my car every day to go somewhere, I put my seatbelt on… Same thing with being online. What we need people to do is before they turn that laptop on… make sure you’re safe.”As scams grow more sophisticated and AI gives fraudsters new tools, crypto platforms are under increasing pressure to protect users and preserve trust. In this episode, we unpack how fraud is evolving across the cr
The Wise Approach to Fraud Prevention
“Fraudsters are preying on human emotion… and it clearly works.”Scams are becoming more personal, more emotional, and more sophisticated. In this episode, we explore how social engineering, investment scams, and “crime-as-a-service” are reshaping the fraud landscape, and why awareness and collaboration are our strongest defences.Our special guests this week are Jessie Apple, Group Head of FinCrime
Agentic AI: Redefining Fraud Defence
"The main thing that agentic AI is going to be good at is pulling together data from multiple sources… metadata, images, device intelligence, and reconciling it to spot subtle fraud signs humans might miss.”As fraud grows more sophisticated, financial institutions are turning to agentic AI: systems that don’t just analyse data, but act on it to detect and prevent fraudulent activity at scale.In th
Fraud, Digital Identity, Trust. Where do we go from here?
“Trust may sound soft, but in practice it’s the hardest currency there is… and in a world of AI, bots, and fraud, trust can make or break a platform.”As AI grows more complex and cybercriminals more sophisticated, the need to earn and protect trust has never been greater. In this episode, we dive into why trust is at the centre of digital identity, how businesses can build it, and what happens whe
Season 4 of What The Fraud?... Coming Soon
Season 4 of What The Fraud is coming this month.As AI gets more complex, and cyber-criminals keep finding new ways to exploit it, these conversations matter more than ever.Join host Thomas Taraniuk as he speaks to the people in the know - the experts, the insiders, the ones on the front line, to unpack the big questions, cut through the noise, and make sense of the biggest issues in digital fraud.
Fraud on wheels: Fighting the Growing Threat of Mobility fraud
“You don't need to hack an Uber, you just need €200 and a Telegram account, and you can just buy the whole new profile.”The cars we drive and rent are now becoming a new frontier for cyber crime. From ghost drivers and fake IDs to money laundering and QR-code scams, the mobility space is facing a new wave of digital threats.Our special guest this week is Karolina Kausylaite, Compliance Manag
The Business of Trust: Making security your competitive edge
“In the tech space, in the platform space, there are a ton of other disruptive brands out there. So if you're not keeping your customers safe, if you're not protecting their trust, there are other options for them to go to.”We often talk about the risks fraud poses to your trust, your customers, and your bottom line. But there can be upsides to strong security — and in this episode we discuss how
Keeping Payments Safe at Scale – Money20/20 Special Part 2
In our second episode of What the Fraud?, recorded live at Money20/20 Europe in Amsterdam, we dive into how leading fintech voices are tackling the growing challenge of sophisticated, borderless fraud. From embedding fraud controls early to leveraging AI and cross-team collaboration, our guests share invaluable insights into balancing security with seamless customer experience.In this episode, you
Bank Leaders on AI, Fraud & Trust – Money 20/20 Special Part 1
In this special episode of What the Fraud?, recorded at Money20/20 Europe in Amsterdam, we sit down with five senior leaders shaping the future of modern banking, payments, and risk. From AI-driven fraud to embedded finance, evolving identity threats, and shifting regulatory demands, we unpack how today’s banking and compliance leaders are building trust while continuing to innovate.You’ll hear fr
Pig Butchering: Inside the Billion-Dollar Scam Factories
“Imagine a campus with 35 buildings, but they are all for the purpose of scamming. It was a walled in, locked down facility where hundreds, thousands of people were in the business of scamming people all over the world.”Pig Butchering scams have become some of the most lucrative online frauds around. These are highly organized, emotionally manipulative schemes where victims are tricked into handin
Insider Fraud: The Enemy Within
“99% of employees are good employees - it’s the 1% that hurts” When we talk about the risk of fraud to a business, it doesn’t always come from hackers or outsiders - it often starts inside the building. Insider attacks can cost companies a lot. In 2024, the average cost of an insider attack was 17.4 million dollars, but there’s also a cost in trust and reputation. In this episode, w
Fraud Risks in Real-Time Payments
“I think from a prevention perspective, a little friction at the beginning is not necessarily a bad thing.” Real-time payments have become the bedrock of modern life. Whether you’re splitting dinner or closing a corporate buyout, money now moves instantly—and irreversibly. But that convenience comes with a new tangle of risks: fraud, liability, and the shrinking window to react.In this e
$20 to Millions: Fraud’s True Cost
“If cybercrime were a country today, it would have the third largest economy on the planet.” Fraud is no longer just a crime - it has become a global business with software at its heart. With Fraud-as-a-Service (FaaS), anyone can access cybercrime tools online, no technical skills required, and at a fraction of the price.In this episode, we’re joined by Brett Johnson, one of the early pioneer
ID Future: Reusable, Secure, Real?
“Governments worldwide are recognizing that paper-based identification just doesn't cut it for a digital-first economy.” Nations across the world are racing to roll out digital identity systems, promising greater convenience, security and efficiency. But with new technology comes new risks. Hackers recently exposed vulnerabilities in Germany’s digital ID system, affecting over 10 million
Crypto Fraud 2025: How to Stay a Step Ahead
“You’ve got organized hacks, and it's getting harder and harder to know what you're clicking on, if that's real or not.”Crypto is at a tipping point, and while demand is growing, fraud is up 48%, regulations are tightening, and user expectations are shifting.In the past year alone, over $2.2 billion has been lost due to hacks of crypto exchanges. And crypto crime isn’t just happening online—earlie
2025 Fraud Trends: How Businesses and Consumers Can Fight Back
“Your intuition is designed to make you comfortable, not necessarily correct.” In this season finale of What The Fraud?, we’re looking ahead to the year that could define the future of fraud prevention. Sharing his predictions with Thomas is Paul Maskall, Behavioural Lead for UK Finance and the City of London Police, and a key strategist at the Economic and Cyber Police Headq
Fraud Fuelling Digital Inequality
"Why are we trying to change the 3% of people who stammer in the UK? Why aren’t we educating the 97% of people who don’t?” Fraud isn’t victimless — it’s a powerful engine for bias, hitting marginalised communities hardest and driving inequality. In this episode, Claire Maillet joins Thomas to uncover how fraud fuels digital-age discrimination and what stakeholders can do to fight back.&n
Fraud in the Digital Age: Who’s Responsible?
"We don’t treat fraud as importantly as money laundering.” Who should be responsible for preventing and addressing fraud in the digital age? This is what Thomas is exploring today with Jessica Cath, Financial Crime Partner at Thistle Initiatives, a compliance consultancy firm supporting regulated businesses. As fraud becomes increasingly sophisticated, its impact extend
Identity Fraud 2024: Key Stats & Insights
“For an expense of about $1,000 per month, the damage that a fraudster can cause to businesses is upwards of $2.5 million.” In this special episode of What The Fraud?, Thomas is joined by Ilya Brovin, a growth strategist from Sumsub, to explore the latest insights from their annual Identity Fraud Report and reveals the most significant changes in fraud trends over the past year. The
Uncovering the Latest Fraud Tactics in iGaming
“The AI model thinks that the user is going to commit fraud at one point. So, it’s mitigating fraud before it even happens, which sounds quite crazy to me.” In this episode of What The Fraud? Thomas is joined by Kris Galloway, Head of iGaming Product at Sumsub. With an impressive 12 years of experience in the iGaming industry, starting out as a poker player, Kris is the perfect guest fo
Combating APP Fraud in Fintech
"You ultimately become a victim of your own success because you’re doing really well as a business but scrambling around trying to make sure your compliance can keep up.”In this fact-filled episode covering APP fraud, Thomas sits down with James Nurse, Managing Director at FINTRAIL, a leading global financial crime consultancy. Thomas and James unpack recent cases involving Revolut and Coinba
Crypto Fraud: Protecting Yourself in 2024 and Beyond
“For those genuine bodies that are out there—work with us and try to get rid of your fear because we’ve got the same fears and we’re trying to stop them.” In this episode of What The Fraud? we dive into the evolving landscape of crypto fraud in 2024 and beyond with Mark Taylor, Global Head of Financial Crime/ MLRO at CEX.IO.Thomas and Mark explore the rise of cryptocurrency in 2024, where fra
Should Fraud Prevention Be Part of a Cybersecurity Strategy?
“I let them know... You messed with the wrong parent.” Welcome back to What The Fraud? In the first episode of series two, Thomas Taraniuk is joined by world-leading cyber threat intelligence analyst, Charity Wright. Charity works as the ‘Principal Threat Intelligence Consultant’ at cyber security company, Recorded Future, in the United States. Thomas and Charity take a look a
Psychology of a Fraudster
“Many people barter their souls for the allure of booze, babes, and bucks!”In this final episode of What The Fraud? Tom and fraud expert Sophia Carlton get right to the root of the problem – what drives a person, or a group of people, to commit fraud? Is it just the payout? Or are there other things at stake? Tom discusses with Accenture Fraud Transformation Executive Sophia those ‘Thre
Crypto Fraud
“The fact that we have seen organized crime move much more into this space... It's not just your individual doing something bad. This is big business.” In this season’s penultimate episode of What The Fraud?, host Thomas Taraniuk is joined by Vice President of Global Public Policy at Chainalysis, Caroline Malcolm. Tom and Caroline discuss how fraud has developed in the world of crypto an
Ecommerce Fraud
“99% of your customers are legitimate… don't put too much friction in place for them just because you're trying to stop that 1%.” In episode 6 of What The Fraud?, host Thomas Taraniuk is joined by Fraud and Payments Manager at international footwear brand FitFlop, Adam Sherlock. Tom and Adam discuss the different ways that fraud is perpetrated in the eCommerce industry, how synthetic lea
Romance Fraud: How to spot it whilst online dating
“In person, we have our ideas of who we can trust… online, anyone can be anyone!”In this episode of What The Fraud?, host Thomas Taraniuk is joined by Associate Professor of Criminology at Kingston University and forensic linguist, Dr Elisabeth Carter. Tom and Elisabeth discussed the variety of ways that fraudsters can take advantage of vulnerable individuals via social media and dating apps,
Fintech Fraud: How It Happens, and How To Fight It
“So I think that's why you, as an organization, should also be regularly testing your controls... pretend to be a fraudster and see what your vulnerabilities are!” Thomas Taraniuk was joined by Seun Oshinsui, Head of Financial Crime Operations at Mettle, for Episode 4 of What The Fraud? Tom and Seun discussed the different ways that fraudsters operated in the financial crime sector
Fraud in Gambling
“They will do whatever suits them to get from A to B, and they don’t care who it hurts.” In Episode 3 of What The Fraud?, host Thomas Taraniuk is joined by lecturer and CEO of We Fight Fraud Dr Nicola Harding. Thomas and Dr Harding take a look at the threats that the gambling sector currently faces from cybercriminals, and discuss the ways that these gaming corporations can protect thems
Are You Ready For AI-generated fraud?
“It’s not a coincidence, that the World Economic Forum described AI-generated disinformation as THE biggest threat for the global economy.”In Episode 2 of What The Fraud?, host Thomas Taraniuk is joined by internationally renowned speaker and all-round expert on AI, Walter PasquarelliThomas and Walter make sense of current legislative action against synthetic technologies, where and how fraudulent
2024 Predictions with Peter ‘The Fraud Guy’ Taylor
“Which little piggy are you? The piggy that lives in the straw house, in the wooden house, or are you going to build your organisation up so it’s as strong as a brick house?" In the first episode of this brand-new podcast series by Sumsub host Thomas Taraniuk is joined by international fraud expert Peter Taylor AKA ‘The Fraud Guy’, a former police detective-turned fraud-buster for major compa
Introducing... What The Fraud?
Join Thomas Taraniuk in hosting leading minds from the world of AI, fintech, crypto, iGaming, and more. This podcast dives deep into the most pressing issues surrounding digital fraud in business. Each episode dissects key fraud-related issues that companies—both big and small—face today. From deepfakes and identity theft to money mules and forced verification, What The Fraud? is where digital fra
