Call Center Fraud: The Latest Scams and Strategies - Voice Biometrics and Caller Validation
Contact centers increasingly are the key "soft" targets for fraudsters who impersonate legitimate customers to alter or obtain information. This information is then used to facilitate direct and cross-channel fraud, which can be very difficult to tie back to the call-center entry point. How do fraudsters conduct these attacks, and how can financial institutions fight back with voice biometrics and other technology solutions?
See Also: The Cost of Social Engineering: 3.1 Billion Reasons to Pay Attention
- How can I protect my call centers from attack?
- The social engineering techniques fraudsters use to deceive call-center staff;
- How this information leads to direct or cross-channel fraud - and why it's so tough to track;
- How new voice biometric solutions can help reduce call center-related fraud.
In this two-part session industry thought leaders, Shirley Insoce, Senior Analyst, Retail Banking Practice at Aite Group and Matt Anthony, VP of Marketing at Pindrop Security, take a deep-dive into the latest call center scams and the strategies needed to mitigate the fraud.
Call center data and logs can help banks predict account-takeover attempts across multiple banking channels. But because most banks fail to correlate call-center data with anomalous channel activity they can often miss predictive patterns.
Regardless of the banking channel fraudsters ultimately use to perpetrate their fraud or wage their account-takeover attack, the call center seems to play a role at some point along the way. Criminals typically exploit call centers by socially engineering staff members to provide critical account information that can later be used to take over accounts.
During this joint presentation, Inscoe and Anthony will discuss 5 key areas:
- Call center vulnerabilities
- Current attack environment
- Security measures
- Real world call analysis
- Fraud call landscape
In addition, Anthony will leverage data gathered from 105 million calls to banking-institution call centers to address:
- How analyzing the characteristics of the call, rather than just the caller, can help predict fraud;
- Why voice-printing alone results in too many false positives for fraud; and
- Why institutions struggle to shore up their call-center defenses.
This session was recorded during the 2014 Fraud Summit Toronto. Additional recordings include:
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