Contact center

Call center fraud can be prevented through a multi-layered approach combining advanced technology and robust processes. Key strategies include passive risk assessment, sophisticated identity verification, real-time threat detection, step-up authentication, continuous monitoring, high-quality data, and an adaptive approach using AI technology like machine learning. This comprehensive strategy reduces identity fraud and enhancesthe customer experience by moving beyond outdated methods like knowledge-based authentication.

As with online login attempts, call center fraud can be identified by abnormal events like calls from unfamiliar devices or strange caller behavior. Recognizing these signs is key to early detection and prevention of phone-based fraud. Here are some other common indicators:

• Repeated attempts to reset passwords or change security settings
• Inconsistent answers to KBA questions
• High volumes of calls
• Inconsistent accents or changing voice patterns (may indicate use of voice changer)
• Demands to skip traditional authentication processes

Of course, these events do not guarantee the caller is attempting fraud. The reason behind a change in voice could be as innocent as the common cold, and impatient demands are nothing new in the world of call centers. Nonetheless, in light of the major risk fraud poses to the security of an organization, these signs should trigger additional caution and verification steps.

Even looking at data, there can be signals that a caller is potentially fraudulent, for example, if running passive checks on the caller’s PII shows a high probability of fraud (using our Sigma Identity Fraud product) or just looking at the signals from the phone number to understand if the phone number is risky and belongs to the applicant (using the Phone Risk module) should trigger additional identity verification steps.

Call center fraud poses a major threat to the finances, operations, and reputation of companies in every industry. As companies continue to strengthen online verification, cybercriminals increasingly turn to call centers, where they often find lax security policies and legacy processes that are far easier to bypass. Through call center fraud, bad actors can gain a foothold to launch account takeovers (ATOs) and other attacks that cost companies billions of dollars each year. Fraud investigations disrupt the smooth running of businesses, and publicized breaches can erode customer trust, driving up customer acquisition costs. Also, call center fraud can create legal liabilities, with companies facing lawsuits and regulatory penalties for failing to protect customer data.

The best way for companies to stop call center fraud is to take a multi-layered approach that combines strong customer identity verification, real-time risk assessments, and biometric verification. By using a diverse combination of fraud detection tools, companies gain a holistic view of caller identity that is highly accurate, even for thin-file profiles that lack a credit history.

Socure’s advanced artificial intelligence and machine learning algorithms work to defeat call center fraud with predictive models trained on the industry’s largest database of two billion known good and bad risk attributes. This allows companies to access rich predictive insights and optimize real-time threat detection, stopping call center fraud before it has a chance to cause harm. The solution analyzes dozens of predictive factors for email, phone, and address risk, resolving identity data in just 200 milliseconds. Through Socure’s dynamic risk scoring, organizations can eliminate friction-heavy authentication processes for good users, while ensuring that high-risk accounts continue to receive appropriate vetting through document and biometric-based verification. With transparent decision-making supported by nearly 200 reason codes and proven results like an 18% lift in email verification coverage, Socure provides a better customer onboarding experience and increases the strength of security.

Socure offers an end-to-end identity verification solution that authenticates callers throughout a customer session. It starts with real-time analysis of various predictive factors, including phone number validity, carrier legitimacy, and the length of time PII elements have been linked to a particular identity.

This initial authentication is followed by a comprehensive workflow:

• Digital Intelligence assessment
• Email/Phone/Address RiskScores and correlation
• Sigma Identity Fraud detection for high-risk cases
• Decision Module and Case Management for suspicious transactions
• Optional step-up verification with DocV or Selfie Reverification

Socure continues to monitor caller behavior for suspicious activity, consolidating all data into a single identity graph that agents can use to gain a comprehensive view of the caller’s identity and risk profile in real time. After a customer session is complete, Socure’s integrated case management tool enables easy management of the lifecycle of suspicious or risky transactions, while also supporting account recovery in the event of call center fraud detection.Socure is the leading solution for call center fraud prevention through the use of AI, a vast consortium database, and highly accurate real-time risk assessments. It integrates multiple identity verification methods and adapts to new threats, enhancing security, efficiency, and customer experience. Socure’s proven results include increased identity verification coverage and reduced manual review times, making it the industry gold standard.