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PINDROP BLOG

Category: Bank fraud

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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March 11, 2016
March 11 – The Week in Phone Fraud
This week in phone fraud, the BBC hacks NatWest and the FBI targets Jamaican lottery scams. On Tuesday, BBC Radio investigators demonstrated two ways to take over a NatWest bank account using the phone. Using social engineering, a fraudster could simply report a victim’s phone lost or stolen, then ask to have their phone number…
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March 4, 2016
March 4 – The Week in Phone Fraud
This week in phone fraud, how criminals are using the IVR and mobile wallets. This week, Forbes reported on Pindrop’s 2016 RSA session, “The Art of Avoiding Authentication.” Pindrop’s Director of Research, David Dewey, tested how Apple Pay’s call center authentication option could be compromised at major financial institutions. On Tuesday, American Banker‘s Penny Crosman…
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February 26, 2016
February 26 – The Week in Phone Fraud
This week in phone fraud, white hat social engineering and believable tech support scams. On Wednesday, reporter Kevin Roose published a story of his experience after asking to be hacked. The most surprising attack was also the most simple. The attacker simply called Roose’s cell phone company, impersonating his wife, and quickly gained access to…
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February 19, 2016
February 19 – The Week in Phone Fraud
This week in phone fraud: teenage phone hackers around the world On Friday, British authorities announced that they have arrested a 16-year-old suspected of being involved with a group that used social engineering phone calls to hack into the Department of Justice web portal, the FBI network, and the private email accounts of high-ranking U.S.…
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February 12, 2016
February 12 – The Week in Phone Fraud
This week in phone fraud, experts predict the future of fraud detection and fraudsters re-target victims. Americans lose an estimated $50 billion a year to con artists around the world. The Atlantic interviewed leading fraud researchers to get ideas about how technology can be put to work to fight fraud wherever it occurs—in person, online,…
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February 5, 2016
February 5 – The Week in Phone Fraud
This week in phone fraud, new chip cards lead to new fraud, and NPR breaks down the “work from home” phone scam. This week NPR’s Planet Money featured a story on a popular phone scam that claims to help victims set up an online business and work from home. This scam illustrates the social engineering…
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January 29, 2016
January 29 – The Week in Phone Fraud
This week in phone fraud, Pindrop raises $75M in funding and the future of voice fraud On Thursday, Pindrop announced a $75 million Series C funding round led by Google Capital with participation from GV, Andreessen Horowitz, IVP, Citi Ventures, and Felicis Ventures. “As voice commands become the standard across intelligent assistants, cars, and the…
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January 22, 2016
January 22 – The Week in Phone Fraud
This week in phone fraud, using the phone to hack a power plant and Jamaica’s violent lottery phone scam gangs. On Wednesday, Wired broke down what we know about the recent Ukrainian power plant hack. The attack used malware to cause a power outage, and then used a telephony denial of service attack (TDoS) to…
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