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Key customer authentication learnings from 2018

TRUSTID

It’s essential for ensuring their information isn’t used for malicious activity such as account takeovers or identify fraud. According to the Identity Theft Resource Center, no corner of the business sector is completely immune to fraud. Contact center agents don’t trust KBA. So what have we learned?

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The benefits of reducing KBA dependency

TRUSTID

While banks know that relying on conventional knowledge-based authentication (KBA) can leave customer accounts vulnerable to social engineering attacks, many continue to take that risk anyway.

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The threat of open information sharing

TRUSTID

In other words, these personal nuggets are gold to social engineers. The data is collected by fraudsters to build personal profiles they can sell to other criminals, apply for credit cards, or socially engineer banks to takeover customer accounts.

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Advantages of early caller validation

TRUSTID

By verifying callers before a phone agent picks up, contact centers can remove the risk of account takeovers and other fraudulent activity. These phone scams use personally identifiable information (PII) to answer telephone security questions to slip passed call center’s basic defenses. Reduces fraud rates.

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Is Your Contact Center AI Biased?

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For a call center professional concerned with fraud mitigation, a real-world form of this bias is an AI systematically ignoring costly fraudster activity and instead focusing on genuine caller behavior and flagging it as suspicious or fraudulent because it doesn’t “fit” the criteria for fraud that the machine has learned. .