BFA #004 | "We Don't Get What Fraud Does"

What's happening Fraud Fighters?

In today's edition, we learn how to overcome when someone doesn't understand why there is even a fraud team.

Why would anyone want to work with you if they simply don't know what you do?

Often, there's one simple reason

Read Time: ~3 Minutes

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"We don't get what fraud does"

I have been building fraud teams from scratch for a long time. Or at least feels like a long time.

Fraud and startup years are similar to dog years.

Over the years, I have learned that most people fail at getting the company to understand why fraud exists because they make it too hard. They think since they've learned something and have known it for so long (and so well), that you can’t imagine other people not knowing it.

They never realize that gap in knowledge is what's actually holding them back. To be honest, it took me quite a while to learn this lesson too.

My story isn't really unique, but I hope you can avoid some of the headaches I created for myself.

The Problem

One of my first jobs in fraud I bounced around many different teams because they simply didn't know what to do with me.

They knew I did something with "fraud stuff" but didn't really know what "fraud stuff" meant.

I reported into CS, Accounting, Loss Prevention, Operations, Project Management, Legal.

Each quarter I was reporting into a new manager. Whoever I was most recently working with on a project became my new boss.

I had to start all over teaching them who I was, what fraud was, what I did, why they needed me.

Fraud 101. Payments 101. Chargebacks 101. ATO 101.

Every. Single. Time.

It was exhausting and burnt me out.

The lack of understanding was amplified because of the other problems it created like inefficient use of resources, lack of cooperation, poor detection, waste of my time. I could keep the list going on and on.

Besides not feeling understood and valued, I needed something to change.

Then I left.

Looking back it was my fault, but I learned one of my most important skills.

The Power of Simplicity Changed My Career

Day 1 of the new role I made up my mind. I was going to avoid being passed around the company and establish fraud not just as it's own function but a core function. How was I going to do that?

With one goal: To be intentionally simple.

That meant no jargon or technical terms. Only using clear and concise words. No ATO. No CVV. No AVS. No BIN. No KYC. No IDV.

All effort was to make fraud relevant and relatable in my audience's world. I would use stories to help explain the nature of the fraud team and make it easy to understand.

I started to draw comically basic pictures and diagrams to break down complex information into more manageable chunks.

Which brings me to questions. Encourage and assess the different types of questions you receive. Based on the questions, I would have an idea of what they understood and where they were in deepening their knowledge, or where they were lacking.

Once we started to have some breakthroughs of understanding, we can then (really only then) start to explain how fraud can impact the company, its employees, and its customers. This can help to illustrate the importance of the fraud team's work and why it is relevant to others in the company.

If you rush to this step, which is natural because you want to prove your value right away. I get it, but my guess is you'll receive some glazed over eyes or notice them starting to scroll their phones.

That doesn't help you. That doesn't help your career. That doesn't help the customers.

This one skill has helped me more than any other skill in my career.

Once I understood how to use this skill as a tool, my career started to grow quickly.

It's very easy to make fraud sound difficult and complex. As a fraud fighter it's even easier to get caught up in the details and technicalities of fraud, which can make it hard to communicate the topic in a way that is easily understood by others.

It's a lot harder to make fighting fraud sound simple. If you're unsure if you're making fighting fraud sound too complex, try these 3 things: consider your audience, get to the point, ask for feedback.

You'll improve your communication skills, increase your visibility, and create better relationships.

Watch your confidence soar - I mean you are the expert after all.

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See you again next Friday in your inbox.

​Brian