Flip the Script on your Monkey
"Every big problem has one fundamental challenge — and if you don’t know what [that] thing is, then you’re just wasting your time." - Jason Feifer
Welcome to the SecFraudOps Newsletter. Enjoy some links that Matt thought were interesting this week. If this is your first time reading, take a moment to subscribe as well!
Security and Fraud
Sam Altman is terrified about a coming AI fraud crisis
The OpenAI CEO spoke with with Federal Reserve Vice Chair Michelle Bowman at the Fed’s Integrated Review of the Capital Framework for Large Banks Conference in Washington, D.C. on Tuesday. During their conversation, Altman talked about his fear of an “impending fraud crisis” in banking, given the huge threat that AI poses to current methods of authentication.
Voice and video authentication will be increasingly harder for anyone, especially financial institutions. AI can replicate voice very well, and video is coming along too. Authentication mechanisms have repeatedly been beat by new technology though! The solution has always been multiple layers and types of authentication to help ensure someone is who they say they are.
Incentives for Security: Flipping the Script
Instead, to get organizations to be truly incentivized to do security we need to focus on 5 things:
Don’t just focus on security
Focus on tail risks
Deliver real and big enough savings
Improve measurable customer experience
Address status-quo disincentives
You have to change your script depending on your audience. Most business leaders want to know how they benefit, not just what the controls do.
Fun Zone
How to Solve A Problem When Nothing Seems to Work
Here’s why: When we solve problems, we often start with the easiest part, or with the stuff we know how to do best. Then we work our way up.
But that’s often the wrong approach. Every big problem has one fundamental challenge — and if you don’t know what thing is, then you’re just wasting your time.
Are you solving big problems? Are you starting in the right place, or the easy place? This is a great article that gets at the heart of problem solving, by solving the core part of the problem first.
I find many people try bringing in new technology to solve a problem, when the problem isn’t technology, its process. Focus on the core (hard) part of the problem and you can make a bigger impact, faster.
Resources
Berkeley Agentic AI Summit [Free online attendance!]
Welcome to the Agentic AI Summit 2025, hosted by Berkeley Center for Responsible Decentralized Intelligence!
The Importance of Information Sharing in Combatting Scams [The Knoble Webinar]
Join us on Thursday, August 7, at 12 PM ET for a live webinar, sponsored by Early Warning, focused on the power of information sharing in combatting scams. Hear from a data provider, intelligence provider, and law enforcement as they discuss how collaboration helps detect patterns, stop criminal activity, and protect victims. Learn why cross-sector communication is essential in the fight against financial scams.
Career Links
If it’s time to leave a job you’ve loved, think about what you need to let go of, and what you cannot leave behind. Then make sure you mourn the former, and take the latter with you.
How to Figure Out How Much Influence You Have at Work
Conduct a power audit of yourself by listing your top ten work contacts and scoring your interdependencies. Next, look for red flags, like asymmetries, concentration of contacts, or low scores. Improve your standing by asking how you can help your contacts, positioning yourself at the intersection of workflows, and getting to know stakeholders better.
Bonus Links
Meta launches new teen safety features and removes 635,000 accounts that sexualize children
Meta said teen users blocked more than a million accounts and reported another million after seeing a “safety notice” that reminds people to “be cautious in private messages and to block and report anything that makes them uncomfortable.”
In the world of "Rent your bank account to money mules" I'm curious if anyone knows why Bendigo Bank is the most expensive of the Australian Banks?