June 10 – This Week in Phone Fraud

TWIPF2 This week in phone fraud, Pindrop’s VP & GM EMEA, Matt Peachey discusses the growing problem of fraud loss in the call center and how it can be addressed.

This week, Europe Business Review spoke with Matt Peachey, VP & GM EMEA of Pindrop about the growing problem of fraud loss in the call center and how it can be addressed.

International Banker reported that research from Pindrop is leading the drive for banks and other financial institutions to turn to multiple layers of defense in an attemmpt to provide better customer service as well as protect against fraudulent activity.




Straits Times: Over $4M lost in phone scams here since March – More than $4M have been lost by victims of phone scams in Singapore since March. Believing the scam originated in China, scammers impersonate overseas officials telling them parcels containing illegal items had been shipped in their names and they must remit money to overseas accounts as a fine.

Mirror: Scammers are TWICE as likely to call as your friends as phone fraud reaches an all time high – More than 2.5 million people in the UK recieved a scam phone call last month, and according to new reseach, people in the UK are twice as likely to be contacted over the phone by someone wanting to swindle them (72%) than by their best friend (64%).

Daily Mail: Telephone fraud doubles to £32 as criminals exploit banks’ weak security checks – Criminals expose banks’ weak security checks by posing as elderly customers to steal their savings as cases of phone banking fraud continue to rise, doubling to 11,380 million in the UK last year and costing banks £32M.

PC World: Why robocallers can stalk you on your cell phone – Telemarketers are finding ways around the Telephone Consumer Protection Act and the “Do Not Call” list which sought to protect consumers from unwanted robocalls. At the same time the act is blocking beneficial robocalls, such as those from health care providers.

NJ Advance Media: Bamboozled: The Medicare fraud army you’ve never heard of – Medicare fraud, errors and abuse amount to $60 billion in losses each year according to the National Health Care Anti-Fraud Association. The Senior Medical Patrol however has recovered more than $106M in savings to Medicare, Medicaid, and individual beneficiaries since 1997 with numbers for 2015 expected to be $2.5 million.

KFVS 12: Phone scam telemarketer sentenced to prison after pleading guilty in Illinois – A Las Vegas telemarketer for Showcase Resorts and Vacation Max was found to be part of a fraud scheme involving duping timeshare owners into believing they had buyers for their property, and sentenced to one year and one day in prison after pleading guilty to charges of mail and wire fraud in southern Illinois.

Webinar: Call Center Fraud Vectors & Fraudsters Defeated