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PINDROP BLOG

Category: Bank fraud

November 21, 2014
Nov. 20, 2014 – The Week in Phone Fraud
This week in phone fraud news, Pindrop Security issued an advisory about a “Misdial Trap” scam and the UK has recently seen an increase in the premium-rate line scam. Pindrop Security issued an advisory to financial institutions and consumers warning of a new scam defrauding nearly 20 percent of financial institutions they sampled. eWEEK reported…
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November 18, 2014
Misdial Misdeeds: Phone Scam Affecting U.S. Financial Institutions and their customers
Recently, Pindrop Security researchers were alerted to a phone scam targeting a financial institution (learn more). As part of the scam, fraudsters had purchased phone numbers that were similar to a financial institution’s main phone line and were using those numbers to target consumers who misdialed. A recording set up by the fraudsters would then…
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November 17, 2014
Experts Predict a Surge in Fraud During EMV Chip and Pin Transition
Point-of-sale (POS) security breaches, like those at Home Depot and Target, are a major concern for financial institutions. Banks must protect their customers from fraud, knowing that many have had identifying information stolen during these breaches. Experts are now predicting that financial institutions can expect an even greater number of attacks in the coming months.…
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November 14, 2014
Nov. 14, 2014 – The Week in Phone Fraud
This week in phone fraud news saw reports of variations in the IRS phone scam. In the UK, tech support phone scams continued to defraud consumers. On Monday, Dave Berman of Florida Today wrote about a new tactic being deployed by the IRS phone scammers. Berman wrote that consumers have complained about receiving automated calls…
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November 7, 2014
Nov. 6, 2014 – The Week in Phone Fraud
This week in phone fraud news, Pindrop Security and others discuss the inherent weaknesses in the phone channel and the threat it poses to call centers. On Monday, Help Net Security published an article by Pindrop Security CEO Vijay Balasubramaniyan on how the phone channel is being exploited for billions every year. In a report…
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October 31, 2014
Oct. 30, 2014 – The Week in Phone Fraud
This week in phone fraud news, Pindrop Security discusses a new fraud tactic that exploits misdialed calls and the Financial Fraud Action UK (FFA UK) issues a new warning about number spoofing. On Thursday, Tracy Kitten of Bank Info Security reported on a new phone fraud tactic in which fraudsters purchase phone numbers that differ…
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October 24, 2014
Oct. 24, 2014 – The Week in Phone Fraud
This week in phone fraud news, the Financial Fraud Action UK (FFA UK) warns of the upsurge in two types of phone scams and premium rate service fraud hits SMBs. On Tuesday, Finextra reported on a warning issued by the FFA UK regarding two types of phone scams: invoice fraud, where criminals send in fake…
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October 17, 2014
Join Us for Breakfast and a Discussion of Phone Fraud in Canadian Financial Institutions
Much like the rest of the world, Canada is facing rising reports of phone fraud in financial institution call centers.  According to CIO Today, some Canadian banks are now allowing customers to sign into their accounts or skip call center security questions by supplying a voiceprint.  But are voice biometrics enough to stop phone fraud in…
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October 17, 2014
Oct. 16, 2014 – The Week in Phone Fraud
This week in phone fraud news, the British Bankers’ Association (BBA) launched a fraud awareness campaign and Pindrop Security released a report on the increase in phone fraud complaints related to Tinder. Last Friday, TechCrunch reported on a recent Pindrop study that shows an uptick in phone spam related to Tinder immediately following an update to…
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October 14, 2014
Live Webinar: Lifecycle of a Phone Fraudster
Don’t forget to register for Pindrop’s live webinar this Wednesday, October 15th at 12:00pm EST, “Lifecycle of a Phone Fraudster: Exposing Fraud Activity from Reconnaissance to Takeover Using Graph Analysis and Acoustical Anomalies.” The webinar will discuss how call centers have become the weakest link for financial institutions. Fraudsters are using spoofing, voice distortion, and…
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