How to Prevent Phone Fraud
Phone fraud is used by attackers to mask their origin, steal identities, take over accounts, and perform other malicious activity. Pindrop Security has developed a breakthrough product that helps detect, report and prevent phone fraud. We have developed a patent-pending solution that can identify key attributes of any phone call including the device used, ID, call path, and geographic point of origin. Look at it as a call “fingerprint” that helps clients identify and avoid fraud.
Call Center Authentication
Call centers are increasingly under fire. New technologies, such as voice biometrics and phone printing, designed to authenticate callers, are being widely considered to address the problem. In this whitepaper, we discuss the issues enterprises are facing in deploying these technologies and how to ensure your solution is effective out of the box and robust as attackers respond and shift tactics.
The State of Phone Fraud
Pindrop Security reviewed phone fraud activity affecting financial services institutions during the first six months of 2013 to understand the frequency of attacks and the methods and motives of phone fraudsters. This information, along with field reports from Pindrop customer sites, provides a unique view into the risk facing financial institution call centers.
Top Consumer Phone Scams
Each year, thousands of consumers and businesses lose money to scams conducted over the telephone. These scams can cost victims anything from a few dollars to their life savings. Pindrop Security collected and analyzed consumer phone scam complaints during the first nine months of 2014 to understand the types of scams being conducted, their frequency and timing, and the methods and motives of phone fraudsters.
Online Brokerage Saves $1.5 Million in Avoided Fraud Losses
Call centers in many industries are forced to deal with social engineering attacks designed to gain access to accounts, money and other assets. Call centers in the U.S. spend over $10 Billion per year authenticating callers. For companies like this top 3 online brokerage, tactics like social engineering, caller ID/ANI spoofing, customer impersonations allow fraudsters to complete fraudulent stock trades as well as wire money to accounts that they control.
Reducing Unwanted Phone Traffic By 80%
Studies show that US businesses spend over 20 million hours answering unwanted robocalls and spam phone calls every year. That’s nearly half a billion dollars of productivity wasted. For companies like this leading affiliate marketing company, having local phone numbers brought them a lot of unwanted telemarketing spam calls, thus frustrating shop owners and wasting time and money for their business.
Contact Centers – Fraud Central
In this webcast, sponsored by Pindrop Security, Aite Group senior analyst Shirley Inscoe provides an overview of this emerging market and explores the key issues financial institution decision makers should consider when investigating solutions. Shirley looks at the current state of contact center fraud and then covers key technologies including voice biometrics, phone printing, and signal analysis and how they contrast and/or complement knowledge-based authentication.
Lifecycle of a Phone Fraudster: Exposing Fraud Activity from Reconnaissance to Takeover Using Graph Analysis and Acoustical Anomalies
The webinar discusses how call centers have become the weakest link for financial institutions. Pindrop demonstrates how to detect both the account takeover calls using acoustical anomalies and the reconnaissance calls leading to it through graph analysis. In the process, Pindrop will reveal the lifecycle of a phone fraudster as they work through both the call center agent and the technology to extract information about a customer and takeover his or her account.