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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 analyzing over 100 million calls, Pindrop Security found that one in every 2,900 calls to a call center is fraudulent.

On Tuesday, Tara Seals of TMCNet also reported on the threat these vulnerabilities pose to call centers, quoting Vijay on this growing fraud tactic: “While online security has been a top priority for organizations over the past decade, the phone channel has not seen similar innovation… When institutions strengthen online controls, fraudsters often shift their efforts to a less protected area of the enterprise – the call center.”

Full Breakdown of This Week’s Phone Fraud News

BBC News: Mobile Phone Scam Hits Thousands Of Students, Says EE – Nov. 5, 2014

Chicago Tribune: Suburban Police: Scams Are ‘Becoming An Epidemic’ – Nov. 5, 2014

Fox 4 News: IRS Warns People To Be Cautious Of Intricate Phone Scam – Nov. 5, 2014

TMCNet: Phone Channel Fraud is a Growing Threat to Call Centers – Nov. 4, 2014

Malay Mail Online: Challenging Task For Cops To Track ‘Vishing’ Fraudsters – Nov. 4, 2014

Help Net Security: Targeting Security Weaknesses In The Phone Channel – Nov. 3, 2014

SaportaReport: For Job Growth, A Thriving Startup Community is Essential – Nov. 3, 2014

University Times: Scammers Gonna Scam, Scam, Scam… – Nov. 3, 2014

My Broadband: VoIP Fraud Explained – Nov. 2, 2014

The Independent: Fraudsters Are Using “Number Spoofing” To Fool People Into Revealing Their Passwords – Nov. 1, 2014

The Wall Street Journal: Threatening Call From the IRS? It’s Probably a Scammer – Nov. 1, 2014

New York Daily News: IRS Scam Is Back And It’s Ripping Off People For Millions Of Dollars – Oct. 31, 2014

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