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Southwest Ohio ACFE Chapter

May 2024 Hybrid (In-Person & Virtual): Refund Fraud

  • Friday, May 10, 2024
  • 12:00 PM - 2:00 PM
  • Cincinnati Financial Corporation, 6200 South Gilmore Road, Fairfield, OH 45014


(depends on selected options)

Base fee:
  • For registrants that aren't a member of the Southwest Ohio Chapter of the ACFE
  • For registrants that aren't a member of the Southwest Ohio Chapter of the ACFE and wish to attend the class virtually in Zoom.

    Attendance links will be emailed to the registrant's email the day before the event.
  • For members of the Southwest Ohio Chapter of the ACFE
  • For members of the Southwest Ohio Chapter of the ACFE who wish to attend the class virtually in Zoom.

    Attendance links will be emailed to the registrant's email the day before the event.


Speaker: Dajana Gajic-Fisic - C.H. Robinson, Head of Fraud and FraudAware, Principal Consultant

Topic: Refund Fraud: Have We Created a Monster?

The world of fraud is ever-changing and dynamic. Fraudsters are always fast to change and adapt their strategy and we, fraud fighters, are trying to stay to step ahead of them. It is not an easy or fair fight. They are exploring and exploiting new risk gaps every day, and we have rules and regulations, processes, limited resources, and limited technology to keep up in this fight. However, we have something they don’t. We have a sense of justice, unlimited persistence, and passion to stop crime.

As the technology is advancing, so are fraudsters. They are using it to their advantage and to find new ways to make a financial gain. New trends are emerging daily. With the increase of account security needs in the retail world, the lines between fraud needs of financial institutions and the ecommerce world are blurred today more than ever.

Refund fraud is the newest and fastest growing trend in ecommerce industry. Our goals to improve customer experience may have opened the door to this trend, but is this a monster of our own making?

In the session we will cover:

  • The presenter's career background. 
  • New fraud trend: high level info about refund fraud and account security (ATO, Loyalty fraud, BOTs)
  • Refund fraud: What is refund fraud? How is it committed? Who are the players? Who are the victims? What is the impact to business? How can it be combatted?
  • Account security: Where to start when protecting your customer/client? How to understand the losses? Use of BOTs in retail and account creation?
  • A few interesting case studies
  • Q&A

CPE: 2

CPE credits are based on a 50-minute hour.  CPE is offered through the ACFE as well as the Accountancy Board of Ohio (sponsor number CPE.00467).  Attendees must attend 100 minutes of the meeting and answer 6 polling questions during the meeting to validate attendance. 

Learning ObjectivesPromotion of improved fraud detection and deterrence and through expansion of knowledge in relation to the session's topic.

Prerequisites: None

Speaker Bio: 

Dajana Gajic-Fisic is Head of Fraud at CH Robinson, and has been in the fraud industry for over 20 years. Currently Dajana is in charge of fraud operations with the focus on identity authentication, ATO, and policy abuse.

During her career, Dajana had the opportunity to work with many known retail brands, as well as financial institutions. (Finish Line-JD Sports North America, Versace, Hugo Boss,  Nars, Shiseido, La Prairie, Puma, The Limited, MCM, Cole Haan, Barclaycard US, Macy’s CCCS)  

As the result of her experience, Dajana has created and adopted a unique approach to risk mitigation operations. This 360 approach focuses on segmenting fraud/risk operations into four components: prevention, investigation, reporting and analytics, and strategy. Each component feeds into the next one, creating a holistic picture of the fraud and risk, helping organizations learn from the historical data and be proactive.  In addition, to identify key players within an organization and make them part of the process. The goal is to increase cross-department collaboration as well as collaboration with third party vendors for most successful risk management. This helps ensure that all internal and external key players are operating in the way that feeds into the larger enterprise’s target: to increase revenue at minimal risk, with minimal friction.

For this unique approach and successes that followed, Dajana was named by a Retail Info Systems, a 2019 Industry Pacesetter: https://risnews.com/pacesetters-2019-fast-rising-retail-executives

In 2020 Dajana was a part of a small team of fraud professionals that discovered and identified refunding fraud in the retail industry. Her strategies for mitigating refund fraud risk are adopted by many other merchants in an industry, making Dajana a best practice setter. Dajana was recently featured in an article by the Wall Street Journal on "The Rise of Return Scams": https://www.wsj.com/articles/return-scams-jump-as-fraudsters-exploit-e-commerce-boom-11626168601

CNP awarded Dajana and her team with a 2021 Fraud Team of the Year  award for her efforts and contributions and to the fraud fighting industry: 

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