2021 Pindrop Voice Intelligence and Security Report

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A shift in fraudster behavior in 2020 introduced a new battleground for attacks.  Explore an in depth analysis of fraud, data theft, and the impact to contact centers during the COVID pandemic.

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What You Will Learn

The pandemic had a major impact on call center fraud, and we’ve broken the data into the most important trends below. Here’s what we explore inside:

The pandemic forced fraudsters to pivot and IVR fraud boomed.

How fraudsters are targeting institutions during the pandemic

This years call center fraud rates and IVR risk rates for financial and insurance industries

What’s on a fraudster’s account takeover checklist

Survey results from over 250 fraud detection and prevention decision makers about the current state of affairs.

What industry had major spikes in fraud in 2020?

How mask-wearing impacted facial and voice recognition, “man in the call” attacks, and more

Call Centers experienced a surge in call volume and duration

In the remote world in 2020, call centers became a vital part of doing business. For some, call volumes grew in excess of over 800% in the second quarter of 2020, creating major challenges for the centers and their employees.

1

Long hold times have fraudsters avoiding the queue

Due to high call volumes and reduced agent capacity, fraud occurrences at the agent was reduced to a rate 1 in 1074 calls. 

2

The IVR reveals its dirty security and machines fight for the data

As the IVR grew more and more capable, it also became an increasingly important hotspot of fraudster exploitation, similar to any other customer endpoint. 

3

Massive unemployment fraud through prepaid card theft

36 billion dollars. A full 10% of the $360 billion in CARES Act unemployment funding was mostly lost due to rampant unemployment fraud. We spell out how this occurred.

Aside from unemployment claims, fraudsters exploit changes in qualifications in applications and authentication systems to capitalize on the PPP loan program.

Small business loan programs exploited

Fraud shifted dramatically in 2020. Follow the threats. 

If possible, beat them to it. Download our report to explore these trends and more.

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