August 8, 2014 – The Week in Phone Fraud

This week in phone fraud includes coverage of the research our team presented yesterday at the Black Hat conference in Las Vegas, in addition to a report coming out of Japan citing a massive surge in fraud attempts during the first half of 2014.

On Tuesday,Threatpost’s Mike Mimoso reported on our research results that found one in every 2900 phone calls to contact centers was made by fraudsters attempting to gain customer account details to steal funds or buy merchandise. These results along with many others were featured in our Black Hat presentation on Thursday of this week, led by our CEO, CTO, and Founder Vijay Balasubramaniyan. Mike’s story was also picked up by Darren Pauli at The Register.

Yesterday, The Japan Times reported an alarming surge in phone fraud during the first half of the year. The amount of money stolen in “special” fraud cases surged to a record high of ¥26.830 billion ($268M) between January and June, the National Police Agency said.

Full Breakdown of This Week’s Phone Fraud News

Japan Times: Record ¥26.8 billion stolen via phone fraud in first half – August 7, 2014

Yakima Herald: An insidious phone, email scam targets grandparents – August 7, 2014

Softpedia: Account Takeovers Can Be Predicted Through Phone Fraud Service – August 6, 2014

KVOA: Flower shop targeted by TEP phone scam – August 6, 2014

The Register: One in 2900 Phone Calls is an Identity Thief – August 6, 2014

Threatpost: Call Center Phone Fraud For Fun And Profit At Black Hat – August 5, 2014

FOX (Tampa Bay): IRS Warns of Phone Scam – August 5, 2014

Kansas First News: New Fraud Involves Hacking Voice Mail Systems – August 5, 2014

KFOR: In Your Corner: Scam robocalls back with a vengeance – August 4, 2014 What are the top 5 fastest-growing scams? And the newest scams? – August 4, 2014