Category: Bank fraud

September 26, 2014
September 26, 2014 – The Week in Phone Fraud
This week in phone fraud the IRS reports $5 billion losses to phone fraud, and challenges banks to address the issue. American Banker discussed Pindrop Security’s relationship with Citi Ventures. On Monday, Kevin Wack of American Banker profiled Citi Ventures, and its support of Pindrop. Authentication technology is a focus area for Citi, and Pindrop’s…
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September 19, 2014
September 18, 2014 – The Week in Phone Fraud
This week in phone fraud news, a report finds that telephone bank fraud increased 20 percent in 2014. The New York Times profiled a phone scam involving prepaid cards. On Thursday, SC Magazine reported on a 71% increase of banking fraud in the UK this year, with phone fraud accounting for 20%. Reports indicate that…
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September 12, 2014
September 12, 2014 – The Week in Phone Fraud
This week in phone fraud news includes a report of the top four scams targeting the elderly and research covering call center fraud from Gartner analyst Avivah Litan. On Tuesday, an article from Forbes discussed the top scams effecting elderly citizens. A particularly cruel scam involves a criminal posing as bank fraud investigator and asking the…
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September 9, 2014
Home Depot attack leads to phone channel exploits
Yesterday, Brian Krebs, an investigative reporter/blogger focused on online crime, posted a detailed overview of the Home Depot breach and called out financial institutions for allowing PIN numbers to be changed over the phone when a caller is able to answer 3 out of 5 Knowledge-Based Authentication (KBA) questions: “Countless banks in the United States…
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September 5, 2014
September 5, 2014 – The Week in Phone Fraud
This week in phone fraud news saw two state attorneys general warning against phone fraud, along with a report of fraudsters taking advantage of the “ALS Ice Bucket Challenge” to steal money from would-be donors. On Tuesday, Consumer Affairs reporter Mark cited a recent Harris survey from Truecaller that found 17.6 million Americans have reported…
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August 22, 2014
Pindrop and Black Hat USA 2014
It’s been a few weeks since the Black Hat conference and Pindrop’s presentation has generated quite a bit of news. The combination of updated fraud data and innovative new ways to analyze Call Detail/Data Records (CDR) opened some eyes to the threats in the phone channel. Which was rather fitting since the other big story…
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August 22, 2014
August 21, 2014 – The Week in Phone Fraud
This week in phone fraud includes reports of the ongoing Microsoft and IRS phone scams, as well as a short feature story on Pindrop Security research and the world of organized phone fraud. On Monday, eWEEK’s Sean Michael Kerner discussed the vulnerability of the phone channel with our CEO, CTO and co-founder, Vijay Balasubramaniyan. In…
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August 18, 2014
August 14, 2014 – The Week in Phone Fraud
This week in phone fraud includes a Black Hat conference wrap up piece, one would-be fraud victim’s recording of a Microsoft phone scam, and a report claiming tax fraud phone scams are conning taxpayers out of $5 million so far this year. On Saturday, NPR published a wrap up on this year’s Black Hat conference…
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August 8, 2014
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…
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August 1, 2014
August 1, 2014 – The Week in Phone Fraud
This week saw Pindrop Security heavily featured in the news, with a Bloomberg story highlighting the research on phone fraudster techniques that CEO Vijay Balasubramaniyan and his research team will present at the Black Hat conference in Las Vegas next week. On Thursday, Dataconomy discussed how we’re tackling authentication issues to solve what has become…
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