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Fraud Prevention in the Contact Center

How Do SSN Data Breaches Impact Your Contact Center?

The recent data breach at Equifax probably got your attention. Now what can you do about it? Data breaches are not new to enterprises, governments, and individuals – but the impacts are getting further and deeper for all their victims. One way to attack the attackers is through stronger analytics and actions in your contact center. Here’s why it’s important to do so…

Topics: Industry Insights IVR Security Fraud Prevention Fraud Analytics

Contact Centers: Block Fraud’s Path of Least Resistance

Fraudsters with their eyes on the prize of customers’ bank, credit card and other financial or monetary accounts are increasingly taking advantage of poor or inconsistent protection in contact center systems because it’s easier than penetrating tight security on networks, apps and mobile devices. By using the interactive voice response (IVR) system for data gathering, or by sweet-talking an agent into a lapse, the criminal may snag details needed to access and drain the account. That’s why contact centers need a holistic, multi-layered approach for authentication, fraud prevention, detection and remediation. Benjamin Franklin would agree – here's why...

Topics: Industry Insights IVR Security Fraud Prevention Fraud Analytics

How Government Agencies Can Use IVR Analytics to Prevent Fraud

Recently our very own Tim McCurry, Director of IVR Solutions, was featured in WashingtonExec. In his interview, Tim provided fresh insights on how government agencies can use real time IVR analytics to prevent and combat fraud. He provides a sneak peak into the type of new projects his team is working on this year. Check out the full interview

Topics: Industry Insights IVR Security EBT Fraud

Outsmarting Fraudsters with Adaptive Fraud Prevention: Part 2

In part one of this adaptive fraud prevention blog series, we revealed that one in 360 (1/360) calls are fraudulent and an alarming 25% of those fraudulent calls lead to the successful compromise of accounts. We also noted that 70% of call center fraud is committed by repeat offenders, according to Gartner.

As consumers continue to ditch their landlines in favor of mobile phones and less expensive voice over IP (VOIP) connections, fraudsters are finding new ways to exploit telephony technology for maximum financial gain.

Topics: Industry Insights Fraud Stats

Fraud Prevention Tips This Holiday Season

‘Tis the season for fraud, which means that criminals are increasing their efforts to take advantage of cardholders, retailers, and consumers through scams such as account take-overs, probing activity, and phone spoofing. Retailers are one and a half times more vulnerable to consumer chargeback between Thanksgiving and New Year’s. Chargebacks act as a form of consumer protection to offer remedy to individuals who have experienced identity theft, merchant errors or unethical business practices. Retailers can minimize the risk of chargebacks by implementing the correct fraud prevention methods before chargebacks hit.

Topics: Industry Insights Fraud Prevention

How Modern Fraudsters Work the Contact Center

In the first post in this series about the rise of the modern fraudster, we explored how cybercriminals – the twenty-first century’s version of bank robbers – are continually looking for new opportunities to part consumers from their cash and credit.

As financial institutions layer on more security to prevent cyberattacks and online fraud, the criminals have begun looking for new ways to earn their dubious livings. In this post, we’ll explore the ways fraudsters are using call centers and self-service customer support technology to score.

Topics: Industry Insights IVR Security

Sound Advice from Frank Abagnale on Fraud Prevention

Frank Abagnale spoke at this year’s EBT Next Generation Conference about Identity theft, and had two sound pieces of advice for everyone.  The first is to follow the money. The second is to think outside the box.

Who is Frank Abagnale and why should we listen to him?

Frank Abagnale was the subject of the movie Catch Me If You Can, and famously scammed the banks with check cashing schemes while also impersonating an airline pilot, a doctor, and a lawyer. He has since become an authority on identity theft working for the FBI for 40 years, and writing several books on identity theft, including Stealing Your Life in 2007. 

Topics: Industry Insights IVR Security