Welcome to a new episode of Business Lunch. Join us in our laid-back discussion on the rise of friendly fraud and how businesses can defend themselves. From shockingly high statistics to practical strategies, they dissect the issue with wit and wisdom, offering insights into prevention and mitigation. Learn how to safeguard your brand reputation while maintaining a customer-centric approach in the face of evolving fraud tactics.
Highlights:
“Fraud legally requires intent. So it's kind of not like, you know, friendly negligence, but at least you don't feel... you're like, okay, those aren't bad people, you know."
"There's no substitute for just having a truly exceptional, amazing product, a truly exceptional, amazing customer experience for having a face to the product and the company so that people don't feel like it's just some nameless faceless organization."
"There are people that are out there that believe it's okay to do these things, that your communications should ideally in your brand congruency help the accidental, not ill-intentioned bad doers..."
Timestamps:
00:47 - Embracing an Unexpectedly Open Week
02:43 - Unveiling the Shocking Rise of Friendly Fraud
03:34 - Renaming Fraud: From Cowardly to 'Friendly'
07:27 - Strategies for Addressing Chargebacks
10:45 - Prioritizing Exceptional Customer Experiences
14:05 - Importance of Brand Congruency
16:31 - Winning Chargebacks: The Key Elements
19:29 - Understanding Intent in Fraud
21:23 - Fraudulent Advice on Social Media
25:34 - Ethical Behavior and Defending Your Business
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