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PINDROP BLOG

Category: Consumer Fraud

December 19, 2014
Dec. 19, 2014 – The Week in Phone Fraud
This week in phone fraud news, Microsoft launches a legal attack on tech support phone scammers and Smart Customer Service offers the three best practices to avert call center fraud. Today, the Register reported on Microsoft’s new campaign to end the popular Microsoft tech support phone scam. The company has filed a lawsuit against Omnitech…
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December 12, 2014
Dec. 12, 2014 – The Week in Phone Fraud
This week in phone fraud news, Pindrop Security partnered with Contact Solutions and IDology and the Atlanta Business Chronicle warns of the top 10 phone scams. On Thursday, TMCnet reported that Contact Solutions, IDology and Pindrop Security have partnered to create Adaptive Fraud Protection. This new offering provides a multi-layered, proactive fraud management solution for…
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December 5, 2014
Dec. 4, 2014 – The Week in Phone Fraud
This week in phone fraud news, Pindrop Security named the top 10 phone scams of the year and the Financial Fraud Action UK (FFA UK) found that UK citizens lost £23.9 million (nearly $37.5 million USD) to phone scams this year. On Thursday, Pindrop Security released a research report naming the top 10 phone scams of…
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December 4, 2014
Have you fallen for any of the top consumer phone scams of 2014?
“This is Rachel with cardholder services. It is urgent that you contact us concerning your eligibility to lower your interest rate and payments.” If you’ve gotten a call from Rachel lately, you’re not alone. According to our latest report, “Top Consumer Phone Scams,” credit card interest rate scams rank as the number one phone scam…
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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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