"Be like water making its way through cracks. Do not be assertive, but adjust to the object, and you shall find a way around or through it." –Bruce Lee
Fraudsters appear to be taking Bruce Lee’s advice as they study their target, identify weakness, and follow the path of least resistance. Increasingly, that path is leading criminals directly to enterprises’ contact centers. Contact center fraud is on the rise as fraudsters successfully compromise the weakest link in the chain—the human being.
Fraudsters are using a range of techniques to perpetrate their criminal schemes through the contact center. To start, they will simply check the balance of an account to determine whether the “size of the prize”on a particular account is worthwhile. Following that, they will target agents to lay the foundation for future fraud, such as setting up travel alerts, increasing account balances, and changing contact details. Finally, they will complete the fraudulent transaction, usually through another channel such as credit card or online.
The problem is that the current techniques for protecting the contact center are either ineffective or only moderately effective in thwarting the creativity, innovation, and persistence of fraudsters. Not to mention that fraudsters have access to all the tricks and tools to successfully bypass these techniques, such as caller ID, knowledge-based authentication, audio analysis and more.
A new white paper released by the well-respected financial services industry analysts Aite Group discusses the current challenges of protecting the contact center and the best practices for keeping fraudsters out without affecting legitimate customers.
Click here to download a full copy of the white paper to understand how enterprises are Stemming the Rising Tide of Contact Center Fraud. The paper includesthe role that voice biometrics is playing to bolster contact centers’defenses and how NICE’s Contact Center Fraud Prevention solution meets the key success factors for stopping increasingly sophisticated fraudsters.