Is your call center a revolving door to fraud?

Posted on: June 15th, 2016 by Art Barger

If your contact center is not effectively screening each incoming call, the threat to your customer accounts may be bigger then you think.

Today, organized fraud rings don’t simply target call centers that lack effective authentication techniques. The days of one-and-done fraud attacks are long gone. Once fraud teams identify customer authentication methods they can defeat, they launch a series of social engineering attacks to penetrate multiple customer accounts.

To help reduce the number of high-risk calls targeting telephone channels, banks need to employ fast and effective customer authentication tools that don’t rely on sensitive customer information. Otherwise, fraudsters will have them eating out of the palm of their hands.

The truth is, traditional knowledge-based authentication (KBA) methods can no longer adequately defend call center environments from social engineering scams. Why? Because unseen callers providing personal information simply cannot be trusted.

With Caller ID spoofing technologies and personal information at anyone’s disposal, there are too many ways that criminals can manipulate a call to fool call center agents into believing they’re someone else. And KBA solutions fall directly into the hands of crooks.

Automatic authentication removes telephone interrogations

Theoretically, a thousand impersonators could defeat KBA tools one hundred percent of the time. That’s a pretty alarming ratio, one that no call center would be willing to risk by when protecting their customer accounts and confidential information. 

Automatic caller authentication changes all that. With zero dependency on knowledge-based information, call centers don’t have to ask security questions to validate customers. The need for lengthy telephone interrogations is remove from the customer experience and bank reps can confidently help good customers faster.

The TRUSTID® Physical Caller Authentication solution reduces the number of spoofed calls that get past contact center defenses by invisibly validating the call while the phone is still ringing. Determining if the call is coming from a legitimate customer, or is spoofed, is conducted at the earliest point of the telephone journey and is done completely behind the scenes.

Using telephone network forensics to automatically identify the risk of each inbound call in seconds not only outperforms KBA methods by up to 980 percent, but the results get stronger each time the same impersonators try to call back. Having a customer authentication tool that instantly verifies the physical location of the calling device not only removes the revolving door of fraud from your telephone system, it helps improve the efficiency and cost of your contact center operations by letting your reps deliver better customer service to callers they know they can trust.