News : Contact Solutions Reveals Staggering Fraudulant Call Data
Reston, VA, USA, Nov. 2, 2015 -- Contact Solutions, a provider of cloud-based voice and mobile customer engagement solutions improved by business intelligence, announced findings based on data extracted from its Adaptive Fraud Prevention Solution. Proprietary analysis of millions of interactive voice response (IVR) interactions reveals that an astounding one in 360 (1/360) calls are fraudulent, with each individual fraudster accessing multiple accounts, usually with spoofed telephone numbers. An alarming 25% of fraudulent calls lead to the successful compromise of an account.
The analysis also identified how fraudsters conduct malicious activity, citing disposable cellular phones as the primary method (50%), anonymous voice over IP (VoIP) connections (47%), and landlines with spoofed numbers (3%). Fraudsters using cell phones prefer prepaid devices with no contract, while those using VoIP numbers often choose anonymous services to disguise the origin of the call.
These statistics illuminate the increasing vulnerability of the contact center, where fraud can be detected in the form of abnormal "probing behavior." Criminals leverage data stolen from data breaches to infiltrate accounts through an organization’s IVR, making it a home base for fraudsters to hijack caller information and gain access to the account balances, deposit activity and more.
Posted by Veronica Silva Cusi, news correspondent
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About Contact Solutions Inc.:
By managing and monitoring hundreds of IVR applications for their clients, Contact Solutions Inc. develops and implements shared IVR systems that helps customers save millions and improve customer satisfaction. CSI IVR applications have been implemented across many vertical markets. By continuously improving our processes and our client applications, our solutions help solve business problems.
Published: Tuesday, November 3, 2015