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May 13 – The Week in Phone Fraud

TWIPF2 This week in phone fraud, call center fraud grows 45% since 2013.

On Tuesday, Pindrop released its annual Call Center Fraud Report. SC Magazine spoke to Pindrop’s research director, David Dewey about the drivers behind this year’s increase in phone fraud. According to Dewey, new US chip cards make it harder for fraudsters to reproduce phony cards, so the bad guys are crafting social engineering attacks that target call centers in order to make malicious transactions.

Dark Reading spoke to both Pindrop’s David Dewey and Chris Hadnagy, CEO of Social Engineer LLC. Hadnagy confirmed the Pindrop report findings, pointing out that voice represents the next big attack vector. Organizations should expect to see an increase in call center fraud and multi-vectored attacks.




Fox5: ID thief: here’s how to stop me – He would research his victims’ birthday and other personal info already online. Then he’d call merchants who use overseas customer service reps. When he would get the security answers wrong, they’d be more likely to cut him some slack.

Finextra: The Transatlantic State of Phone Fraud – Pindrop’s VP and GM of EMEA, Matt Peachey sat down with Fintextra to discuss the 2016 Call Center Fraud Report released by Pindrop Labs. The report has uncovered a loss at £0.51 to fraud in call centers in 2015.

Pindrop: Pindrop’s 2016 Call Center Fraud Report Reveals 45% Increase in Phone Fraud Attacks – Pindrop today announced research indicating increases in phone fraud incidents and costs in multiple areas in its 2016 Call Center Fraud Report. Researchers at Pindrop Labs analyzed over 10 million calls to major enterprise call centers in the US and UK.

Forbes: The Day I Was Almost Defrauded By ‘The IRS’ – I thought I would know the signs. I have spent years teaching graduate students about fraud schemes, developed fraud training seminars for corporations around the world, and have even conducted prison interviews with convicted white-collar felons.

Security Magazine: Call Center Fraud Attacks Have Increased 45% Since 2013 – Strong online and mobile security, coupled with the rollout of EMV chip cards in the US means cybercriminals are changing tactics, exploiting the weakest link in the organization: the call center. The rate of call center fraud attacks has grown 45 percent since 2013.

FindBiometrics: Call Center Fraud on the Rise: Pindrop – Pindrop, the developer of call analytics security solutions, has released a new report indicating alarming trends in call center fraud. Composed by Pindrop Labs researchers using Pindrop’s Phoneprinting technology to analyze more than 10 million call center calls in the US and UK

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