Attacking Payment Card Fraud Where It Is Most Vulnerable - Voice Biometrics in the Call Center
See how the detailed analysis of millions of voice-based transactions has produced a "signal in the noise." From large-scale analysis, clear patterns emerge of how stolen payment card information is actually qualified, updated and adapted for monetization. This process is most often carried out by social engineering at the call centre. In a large, real-world deployment, voice biometrics learned these patterns and drastically reduced losses.
See Also: How the New World of Digital Banking is Transforming Fraud Detection
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The session will focus on a case study of global card issuers who have tried a unique application of voice biometrics through their call center to mitigate fallout from breaches. The session will answer questions such as:
- What does the fraud cycle look like following a data breach, i.e., the path from breach to wholesale distribution of stolen identities in "card shops" into the hands of professional fraudsters?
- How is the call center an important touch point in the fraud lifecycle, including online or counterfeit fraud?
- What are the attack vectors and patterns over time of fraudsters following a breach? The session will provide detailed measurements on fraudster behavior at global financial institutions.
- How is voice biometrics in the call center able to recognize compromised accounts early in the fraud cycle? Can that preempt fraud losses and customer exposure?
This session was recorded during the 2014 Fraud Summit London. Additional recordings include:
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