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Oct. 30, 2014 – The Week in Phone Fraud

This week in phone fraud news, Pindrop Security discusses a new fraud tactic that exploits misdialed calls and the Financial Fraud Action UK (FFA UK) issues a new warning about number spoofing.

On Thursday, Tracy Kitten of Bank Info Security reported on a new phone fraud tactic in which fraudsters purchase phone numbers that differ from financial institutions’ numbers by one digit in hopes of a customer misdialing and connecting to a criminal waiting to take their personal data. Matt Anthony, our VP of Marketing, told Tracy that in the last year this type of attack has targeted nearly 14 percent of the company’s banking clients.

On Tuesday, BBC News reported on a warning issued by the FFA UK regarding number spoofing. This is a tactic employed by fraudsters who gain callers’ trust by displaying a fake number on the caller ID screen.

Full Breakdown of This Week’s Phone Fraud News

Bank Info Security: Call Center Scams on Rise – Oct. 30, 2014

Farmers Guardian: Criminal Gangs Continue To Con Farmers Out Of Thousands – Oct. 29, 2014

The Guardian: ‘Number Spoofing’ Scam Can Make You Think Your Bank Is Calling – Oct. 29, 2014

This Is Money: Surge In ‘Number Spoofing’ Fraud: Fraudsters Trick Bank Customers Into Handing Over Cash With New Phone Trick – Oct. 29, 2014

BBC News: New ‘Number Spoofing’ Scam Nets Millions For Fraudsters – Oct. 28, 2014

San Francisco Chronicle: Phone Scams Sweep Bay Area, Aided By Prepaid Debit Cards – Oct. 28, 2014

Farmers Weekly: Farmers Among Top Targets For Financial Fraudsters – Oct. 26, 2014

Financial Times: Banks Join Wave Of Investors In Cyber Security Start-Ups – Oct. 26, 2014

Associations Now: Dial H For Hacking: Companies Fleeced By Phone System Theft – Oct. 24, 2014

KEYT: Phone Scam Targets Power Company Customers – Oct. 23, 2014

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