PINDROP BLOG

Category: Consumer Fraud

November 24, 2014
Cyber Attack Monday: Avoiding Phone Fraud Over the Holiday Season
In retail, next Monday marks “Cyber Monday.” It is the Monday following Thanksgiving weekend, when enthusiastic Black Friday shoppers continue their gift buying spree from the comfort of their cubicles. But after all the shopping is complete, Cyber Monday can turn into Cyber Attacks. If last year’s holiday season Target breach taught us anything, it…
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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 20, 2014
Retailers Brace for Black Friday and Holiday Season Phone Fraud
Black Friday is looking particularly black for many retailers this holiday season. Though sales are expected to spike, as shoppers begin preparing for the holidays, retailers can also expect a spike in fraud losses. While physical and online security has improved immensely over the years, the phone channel has remained a weak point in retail…
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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 13, 2014
Can Businesses Block Robocalls?
The Telephone Consumer Protection Act (TCPA) of 1991 gave the FCC the power to regulate telemarketers’ use of artificial or prerecorded voice messages, now known as robocalls, in calls to consumers. Today, consumers can add their home landline and mobile numbers to the National Do Not Call Registry. However, B2B robocalls calls made with the…
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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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