Pindrop partner and industry leading hosted IVR provider, Contact Solutions, has just announced their new Adaptive Fraud Prevention Solution, a multi-layered, proactive fraud management solution that recognizes and stops fraudsters and nuisance callers before they create havoc in the call center.
Interactive Voice Response (IVR) systems, sometimes called Voice Response Units (VRU), offer a convenient hiding place for the modern phone fraudster. IVR Fraudsters use banks of computers to auto-dial into a call center and attempt to breech customer accounts or activate credit cards by dialing random number combinations until they get a hit.
According to Gartner analyst Avivah Litan, “There are not a lot of fraud controls on telephony banking. The bad guys will just randomly dial into the VRU system and do brute force dictionary attacks trying to guess the passwords until they get in and transfer money.”
In September, security reporter Brian Krebs discussed a specific example of IVR fraud related to the Home Depot breach. Krebs showed that many banks allowed customers to change their PINs using an automated IVR system, provided they know identifying information such as customer date of birth and the last four digits of their Social Security number. If fraudsters obtained that information on the black market, they were allowed to reset the customer’s PIN and completely takeover and drain the account.
Contact Solution’s new Adaptive Fraud Prevention solution for call centers combines their adaptive IVR technology with two additional layers of security: IDology’s ExpectID® IQ, which provides automated dynamic knowledge-based authentication (KBA), and Pindrop Security’s Phone Reputation Service (PRS), for ANI analysis. This solution delivers multiple layers of fraud protection to the IVR system.
According to Greg Adams, VP of Product Management at Pindrop Security. “Integrating PRS within Contact Solutions’ IVR solution allows us to dynamically and seamlessly catch fraudsters before they impact your customers and stop them in their tracks with real-time call flow modifications in the IVR. This partnership creates an easier, layered approach that increases security while improving service to our clients.”