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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. This is pretty much the standard that we’ve seen.

Banking 50
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Key customer authentication learnings from 2018

TRUSTID

As long as contact centers continue to rely on knowledge-based authentication (KBA) — and research shows many still do — consumers’ private information is at risk. Contact center agents don’t trust KBA. Contact center agents don’t trust KBA.

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Advantages of early caller validation

TRUSTID

So when it comes to identifying customers over the telephone channel, validating callers early in the authentication process works to the advantage of contact centers. By verifying callers before a phone agent picks up, contact centers can remove the risk of account takeovers and other fraudulent activity.