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PINDROP BLOG

Category: Phone Fraud

July 22, 2016
FCC Pressures Carriers to Block Robocalls
The FCC is putting new pressure on both wireless carriers and traditional phone companies to give customers technology to block unwanted robocalls. FCC Chairman Tom Wheeler has told the carriers that they need to give their customers the option to block robocalls, which have become the largest source of complaints that the commission receives. The FCC…
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July 19, 2016
$4 Million in Restitution Going to Victims of Auto Warranty Phone Scam
More than five years after reaching a settlement with a notorious telemarketer behind several robocall schemes, the FTC has begun refunding the more than $4 million that the government says the man duped victims into paying for non-existent extended auto warranties. The payments to the nearly 6,000 consumers who lost money in the scam are the…
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July 18, 2016
Making Money by Abusing Phone-Based Two-Step Verification
A security researcher has discovered a method that would have enabled fraudsters to steal thousands of dollars from Facebook, Microsoft, and Google by linking premium-rate numbers to various accounts as part of the two-step verification process. Arne Swinnen discovered the issue several months ago after looking at the way that several of these companies’s services…
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June 24, 2016
Seven Jailed in Massive Phone Fraud Scam
Authorities in the U.K. have sentenced seven people to prison for their part in running a wide-ranging phone fraud scam that cost victims more than £1.3 million over the course of several years. The scheme that the gang ran is a common and highly successful one that involves making calls to potential victims and telling them that…
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June 16, 2016
FTC Shuts Down Fake Charity Phone Scam
Phone fraud comes in many forms, as most crimes do, and it’s not always obvious that a particular version is actually a crime. The FTC has just shut down a company that was running a specific kind of phone fraud scam that involved pressuring victims to make donations to a fake charity for disabled people…
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May 25, 2016
Treasury Arrests Five For Alleged IRS Phone Scam
The Treasury Department has arrested five people who they say were running a phone scam that involved them impersonating IRS agents and threatening to arrest victims for not paying imaginary back taxes. The arrests are part of the federal government’s increased focus on phone fraud scams, especially those that involve criminals pretending to be IRS…
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May 25, 2016
Phone Fraud Scam Targets College Students For ‘Federal Student Tax’
The Federal Trade Commission is warning about a new variant on phone fraud scams that attempts to bully college students into paying a non-existent student tax. The scam is similar to many of the IRS phone scams that have been ongoing for several years, but with the novelty of pressuring students who likely are much…
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May 24, 2016
FBI: CEO Email Scams Cost U.S. Businesses $246M
Businesses in the United States lost more than $246 million to business email compromise attacks in 2015, dwarfing the losses to any other kind of attack, including phishing, vishing, ransomware, and credit card fraud. BEC scams involve a twist on the typical phishing emails, and aim to trick executives or finance employees who have authority…
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May 11, 2016
On the Wire Podcast: David Dewey on Phone Fraud
Dennis Fisher talks with David Dewey, director of research at Pindrop, about the data in the 2016 Phone Fraud Report. Since 2013 there has been a 45 percent increase in phone fraud and now more than one in every 2,000 calls to corporate call centers is fraudulent. This kind of fraud is costing business as…
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May 10, 2016
Data Shows Phone Fraud Costing Businesses as Much as $27M a Year
Last year, about one in every 1,700 calls to a corporate call center in the United States was from a fraudster, and those malicious calls can cost large organizations as much as $27 million per year, new research shows. The rate of phone fraud in corporate call centers has jumped by more than 45 percent in the last…
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