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?
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.
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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
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:
Anthony is the vice president of marketing at Pindrop Security. Prior to joining Pindrop, Anthony served as director of marketing at Dell SecureWorks. Dell acquired SecureWorks in 2011. Anthony spent five years at SecureWorks prior to the acquisition as vice president of marketing. Prior to SecureWorks, Anthony spent five years with CipherTrust. Anthony began his career at Dell Computer. He is a graduate of the University of Texas at Austin.
Senior Analyst, Aite Group
Shirley Inscoe is a senior analyst with Aite Group, covering fraud, data security, and consumer compliance issues. She brings to Aite Group 30 years of banking experience in enterprise fraud and payments issues. Inscoe has served as the chair of the BITS Fraud Reduction Steering Committee and the co-chair of Early Warning Services' Advisory Committee, and has been a member of ABA's Deposit Account Fraud and Payment Systems Committees.
Prior to joining Aite Group, Inscoe was the director of financial services solutions at Memento Inc., where she was responsible for guiding the company's overall strategy and supporting product development, marketing, and sales related to payments risk mitigation. During her tenure with Memento, she worked to expand the firm's product offerings beyond employee fraud to cover check, ACH, and wire fraud. Before that, Inscoe was senior vice president and director of payments strategy with Wachovia Bank, where she previously served as senior vice president and strategic support manager of enterprise loss management. She also served as corporate compliance manager with First Union Corporation.