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PINDROP BLOG

Category: Bank fraud

May 23, 2018
Call Center Fraudsters | Voice Morphing, Social Engineering, and the Need for Authentication
As technology advances, fraudsters use different, constantly evolving techniques that include exploiting the phone channel. With increasingly sophisticated attacks, fraudsters maneuver around authentication and security measures to access sensitive information that helps them take over accounts. This evolving criminal strategy is part of a $14 billion call center problem. From January 2016 to August 2017,…
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December 27, 2017
2017: The Year of Breaches, Failing PII, and the Voice Movement
By Shawn Hall, Director of Fraud Prevention & Strategy The anti-fraud and authentication industry has seen some major happenings in 2017. Overall, we saw an increase in call center fraud rates, with a noted rise in the use of mobile devices and ANI spoofing, for fraudulent activities. At the beginning of the year, the fraud…
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September 8, 2017
How 3 Premier Call Centers Are Reducing Fraud With Pindrop
With $14 billion lost annually to phone fraud, the call center remains a common target to fraudsters. Legacy authentication methods including caller identification, knowledge based authentication questions (KBAs), and ANI verifications no longer stand up to sophisticated attacks. Using these outdated solutions costs call centers $0.33 per call, adding up to $8 billion each year.…
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April 13, 2017
Tackling Phone Fraud with Pindrop
Martin Dodd, Managing Director, Connect, Lloyds Banking Group With the spotlight remaining on the evolving threat of online fraud, phone fraud is an area that is often overlooked. It is, however, an area where fraudsters, aided by new technology, still look for opportunities. Smarter thinking, collaboration and using innovation are helping organisations to stay a…
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November 30, 2016
Assessing Phone Fraud in the Contact Center: The Growing Problem
Aite Group, an independent research and advisory firm focused on business, technology, and regulatory issues, interviewed 25 executives at 18 of the top 40 largest U.S. financial institutions based on asset size in order to provide an evaluation of the current state of fraud. New research proves that contact centers are being attacked more than…
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October 26, 2016
Gartner Review & Recommendations: 3 Key Call Center Questions Answered
1. What are the key challenges of authenticating callers into the call center and IVR channels? Traditional contact center anti-fraud and authentication methods no longer stand up to the advanced tactics leveraged by today’s criminals. Most contact centers rely on caller ID, a facility that identifies and displays the telephone numbers of incoming calls made…
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September 15, 2016
The Top 10 Takeaways from Tuesday’s Webinar
Aite Group, an independent research and advisory firm focused on business, technology, and regulatory issues, interviewed 25 executives at 18 of the top 40 largest U.S. financial institutions based on asset size in order to provide an accurate evaluation of the most effective technology solutions to protect against fraud. On Tuesday, Aite’s Senior Analyst, Shirley…
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September 1, 2016
61% of Fraud Traced Back to the Contact Center
Contact center fraud attacks have increased substantially in recent years due to the EMV transition and data breaches. Despite the intent to administer positive and timely customer experiences, contact centers often fall victim to social engineering methods that enable fraud attacks. Fraud attacks increase operational costs, decrease customer satisfaction, and jeopardize brand reputation as customer…
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May 13, 2016
May 13 – The Week in Phone Fraud
This week in phone fraud, call center fraud grows 45% since 2013. On Tuesday, Pindrop released its annual Call Center Fraud Report. SC Magazine spoke to Pindrop’s research director, David Dewey about the drivers behind this year’s increase in phone fraud. According to Dewey, new US chip cards make it harder for fraudsters to reproduce…
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April 8, 2016
April 8 – The Week in Phone Fraud
This week in phone fraud, sophisticated account takeover scams in the UK and a new report on who is most vulnerable to scams. This week the Guardian shared the story of account takeover fraud at Nationwide bank in the UK. In this multi-part attack, fraudsters took over the target’s mobile account, registered for mobile banking,…
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