telephone fraud

Detecting the various forms of account takeover
Detecting the various forms of account takeover

Not all account takeovers are the same.  Some criminals go in and immediately begin purchasing products directly from the account. Unfortunately, victims typically don’t find out that their account has been compromised until they discover the charges on their monthly bank statements. Other crooks clean out an account by transferring funds to another account as […]

read more Posted on: December 21st, 2017 by Art Barger
When the Caller ID became a threat
When the Caller ID became a threat

For decades, the Caller ID was a prime credential for authenticating customers over the telephone channel. The once trustworthy number displayed on the phone screen provided the confirmation that contact center agents needed to request the customer’s personal information on record and start the authentication process. As the traditional authentication procedure, sensitive customer data allowed […]

read more Posted on: September 20th, 2017 by Art Barger
Spotting spoofed calls is mission critical to call center success
Spotting spoofed calls is mission critical to call center success

You know your customers better than anyone. You know their banking needs and how they prefer to interact with you. But when the phone rings, do you know if you are talking to a genuine customer or a bad actor?  According to the recent article, “Dialing Into Call Center Fraud,” call center fraud climbed 113 […]

read more Posted on: August 17th, 2017 by Art Barger
How do you protect sensitive customer data?
How do you protect sensitive customer data?

In business, we can now automate just about everything. From selling goods and services to assisting our customers 24 hours a day. Automating most of today’s business functions makes for a faster, more accurate and cost-efficient environment than having humans do the same work. So, when it comes to customer authentication and protecting sensitive information, […]

read more Posted on: January 19th, 2017 by Art Barger
Can banks prevent social engineers from lying?

In a world where security technologies work around the clock to stop cyber threats, sometimes the most deceptive and under-appreciated bank crimes can stem from the ancient act of lying. The opening minutes of the new film, “Identity Thief,” shows just how easy it can be to con someone into providing their private personal and […]

read more Posted on: September 30th, 2016 by Art Barger
When is comes to Caller ID, seeing is not always believing
When is comes to Caller ID, seeing is not always believing

For many, seeing is believing. This is why Caller ID has been relied upon for so long. The information displayed on our telephone’s Caller ID screen has been a source we’ve used to see who was calling before we picked up. It helped us make a quick decision on whether or not we wanted to […]

read more Posted on: June 29th, 2016 by Art Barger
Is the desire to please customers putting your bank at risk?
Is the desire to please customers putting your bank at risk?

Call center representatives are known for going the extra mile to satisfy customers. That’s good, right? After all, telephone agents are trained to do whatever they can to meet the customer’s needs. But according to a new study, the desire to serve customers in need could set your bank up for fraud. In the recent […]

read more Posted on: June 08th, 2016 by Art Barger
How soon does your telephone security identify risk?
How soon does your telephone security identify risk?

Early, invisible call analysis is something all contact centers should aspire to. And why not? The sooner you can validate callers in the authentication process, you increase your chances at stopping fraud and creating a more satisfying customer experience for good callers. Put another way, the faster you can identify information about an inbound call […]

read more Posted on: March 09th, 2016 by Art Barger
New bill takes aim at spoofed Caller IDs, texts and voice services
New bill takes aim at spoofed Caller IDs, texts and voice services

A new law targeting Caller ID spoofing hopes to close the gaps that continue to leave people and their bank accounts vulnerable to Caller ID scams over different communications platforms. The Spoofing Prevention Act of 2016, proposed by Sen. Deb Fischer, R-Neb. and Bill Nelson, D-Fla., is an amendment to the Communications Act of 1934, the Telephone […]

read more Posted on: March 02nd, 2016 by Art Barger
Most of the top 2015 scams involved the telephone
Most of the top 2015 scams involved the telephone

Of the Better Business Bureau’s top ten scams of 2015, it’s no surprise to us that eight are telephone related. When resolving issues, consumers still turn to a live person to get help on an important transaction or make sure a problem has been taken care of. Call it human nature, but many of us […]

read more Posted on: December 23rd, 2015 by Art Barger
Is your contact center door open to fraud?
Is your contact center door open to fraud?

When it comes to stopping phone fraud, knowledge-based authentication (KBA) is sort of like placing a stop sign in the middle of the Autobahn. Sure, social engineers will see it, but there’s no way it’s the end of the road for them. The article, “The challenge to protect your money,” defines stronger customer authentication as stacking additional […]

read more Posted on: October 01st, 2015 by Art Barger
Fraudsters bypassing call center agents to trick payments processors
Fraudsters bypassing call center agents to trick payments processors

Criminals are constantly looking for new gaps and vulnerabilities within banking systems. For financial institution’s contact centers, crooks exploit the lack of security measures or method of authentication to launch attacks, mainly in the form of social engineering. An emerging fraud strategy shows that instead of calling a bank’s customer service line, fraudsters are avoiding […]

read more Posted on: July 09th, 2015 by Art Barger
Where telephone blacklists fall short
Where telephone blacklists fall short

Some banks organically build or share blacklists to block suspicious or high-risk telephone numbers that have been used for fraud in the past. While the intent is to stop criminal activity before it happens, relying on blacklists to protect your telephone channel has its drawbacks, and the shortcomings may exist in the data itself. Using […]

read more Posted on: May 21st, 2015 by Art Barger
Stolen identities threaten more than just your customers
Stolen identities threaten more than just your customers

The underground economy has grown into a 24-hour assembly line of stolen identities. The recent article, “Banking’s customer identity crisis,” cites a SafeNet report that says 1,355 personal identities are stolen every minute around the globe. With so much information being compromised each day, criminals appear to have an endless supply of personal data and […]

read more Posted on: April 16th, 2015 by Art Barger
What are your 2015 call center resolutions?
What are your 2015 call center resolutions?

The new year is when we commit to live healthier, more productive lives. For call centers, this translates into improving the safety and efficiency of our customer experience. While these are certainly top priorities for any contact center, achieving them in an increasingly complex customer environment is not always easy. The truth is, call centers […]

read more Posted on: January 22nd, 2015 by Art Barger
Labor costs vs. fraud losses: What has a bigger impact on your call center?
Labor costs vs. fraud losses: What has a bigger impact on your call center?

For most contact centers, labor expenses are your highest costs. They have a bigger impact on your business than fraud, itself. The time it takes to identify each caller typically costs your operations more money than the number of fraud attempts your team fights throughout the year. So, when it comes to making your call […]

read more Posted on: December 04th, 2014 by Art Barger
When low-tech fraud turns into higher business costs
When low-tech fraud turns into higher business costs

As low-tech as it may seem, telephone scams can lead to big losses in profits and production for today’s businesses. This is why deploying the right authentication tools is important for sustaining optimal business operations and ensuring excellent customer service. In the article, “Small Business Security: Hackers Dial Up Telephone Fraud,” criminals continue to exploit […]

read more Posted on: November 13th, 2014 by Art Barger
New TRUSTID-Nuance partnership provides call centers best-in-class customer authentication
New TRUSTID-Nuance partnership provides call centers best-in-class customer authentication

Most of today’s telephone customer authentication solutions are single-factor methods that cover one form of identification. Whether it’s something the user knows, something the user has or something the user is, working alone to identify customers is risky, and can put your business and customer sensitive data in a compromising position. TRUSTID recently announced that […]

read more Posted on: July 16th, 2014 by Art Barger
Telephone channel weakest link in bank authentication
Telephone channel weakest link in bank authentication

With new call center scams plaguing financial institutions, today’s banks are challenged with investing in authentication technologies that effectively stop fraud over the telephone channel without disrupting the customer experience. In the article, “New Wave of Call Center Fraud,” a bank in Georgia experienced a series of spoofed Skype calls to its contact center requesting […]

read more Posted on: May 08th, 2014 by Art Barger
Snapchat data hack shows why hackers value phone numbers

In recent years, banks and other companies have largely focused on deploying anti-fraud tools to protect their digital assets. With all the attention cyber threats, last week’s Snapchat data breach was reminder of how telephone numbers still provide valuable information for hackers. According to the article, “Why hackers want your phone number,” the Snapchat data […]

read more Posted on: January 08th, 2014 by Art Barger
All banking channels need to be prepared for customer impersonators

I’ve often spoke about the many dangers of depending on personally identifiable information (PII) for customer authentication. As we recently learned from the high-profiled credit report celebrity hacking, relying on accessible personal information such as date of birth, mother’s maiden name and Social Security number can put a company’s customers and corporate data at serious […]

read more Posted on: March 19th, 2013 by Art Barger
Do your customer calls all look the same? They shouldn’t.

Without the ability to verify the Caller ID or ANI, all customer calls can look the same to call center agents. This a risky proposition for any financial institution that handles thousands of customer calls each day. In other words, if all calls appear the same there’s no way to answer some of the key […]

read more Posted on: January 30th, 2013 by Art Barger
Banks continually challenged with securing growing sales channels

Along with providing faster and more convenient ways to bank, financial institutions are constantly challenged with making sure all of their customer channels are protected. The problem with offering customers more tools for customers to bank remotely is the ability to successfully secure the growing number of sales channels without impacting the user experience. While […]

read more Posted on: January 23rd, 2013 by Art Barger
Restoring the trust and usability of Caller ID

Trust, once the very essence of the financial industry, is gone. That’s according to the recent USA Today article, “Remember when trust actually meant something,” which says most of today’s major brands have implicit trust problems. Many are on a spinning treadmill trying to make up for lost customer and public trust. This certainly applies […]

read more Posted on: January 09th, 2013 by Art Barger