Cross-channel fraud: A bigger threat to call centers

Cross-channel fraud: A bigger threat to call centers

OABPO Blog Team Published on January 7, 2015

Cross-channel-fraud-A-bigger-threat-to-call-centers--Open-Access-BPO--Philippine-call-center
Financial fraud is one of the threats that a Philippine call center should be prepared for if it s handling accounts under the banking and finance industry. And it s not only because financial services deal with sensitive client information, but also due to the fact that contact centers are vulnerable targets of fraudsters.

Cross-channel-fraud-A-bigger-threat-to-call-centers

Part of what made voice channels vulnerable is the companies move to beef up their online platforms. Knowing that there s a high risk of fraud present on the Internet, they strengthened their web security, which consequently made the contact center the lesser protected channel. It s only natural for cybercriminals to move their efforts to an area that s easier to infiltrate.

Now that most call centers are multi-channeling their customer service by adapting web-based platforms like email, live chat, and mobile apps, the threat only grew stronger. According to a Gartner analyst and financial fraud expert, 30% of banking fraud cases are performed across multiple channels, including call centers and online banking platforms.

How do they do this?

Fraudsters may attack different channels simultaneously in order to keep an organization busy trying to remedy one channel while leaving others vulnerable to fraudulent activities. For instance, they strike your banking website with a distributed-denial-of-service (DDoS) attack to take your attention away from graver attempts on your call center.

Another way of doing so is by social engineering. They launch hacks or collect publicly available information to impersonate a client and gain access to the victim s account. They call and give the gathered data to a phone representative to make the intention convincing. Once the call center “verifies” the caller s identity, the fraudster can now make other requests like wire transfers or password and account number retrieval. These newly gained pieces of customer information can be used to make a new account or steal the victim s identity.

How to detect and prevent financial fraud

Many companies have been investing in voice biometrics as a way to curb social engineering tactics. Voice biometrics verifies or authenticates a person s unique voiceprint to allow him access or control over an account and the information in it. Even if the cybercriminal has enough stolen information to answer security questions, the program can identify previous offenders in real-time by matching incoming voices with a hot file of negative voiceprints gained from recordings of past fraudulent calls.

Cross-channel-fraud-A-bigger-threat-to-call-centers-

For companies that have yet to allocate budget for voice authentication solutions, it still helps to focus the security measure on workforce training and education. Your staff should know what to look for in an authentic transaction and how to spot dubious callers. They should be familiar with how social engineering works so that they can stop possible offenders from doing a workaround of the system.

As massive personal data become more conveniently stored and accessed via card, call, and digital transactions, fraudsters will continue finding new ways to attack financial institutions. Call centers should likewise be on the constant lookout for these fraudulent activities to counter potential attacks and provide higher levels of protection to their client base.

JOIN US ON FACEBOOK
Open Access BPO
Open Access BPO2 days ago
#Gamification claims to lighten stressful jobs, but is this truly helpful in #TechnicalSupport?

Join us as we explore just how effectives this strategy is in the #CallCenter: https://buff.ly/3LU2M6p

----------
We build strategies that empower people and solidify brand loyalty for our partners: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CustomerSupport #CustomerService
#EmployeeManagement #EmployeeEngagement
#CustomerExperience
Open Access BPO
Open Access BPO4 days ago
#CustomerService metrics indicate the level of service your brand is capable of providing.
They can also reveal just how effective your strategies are, including your
• staffing
• training
• quality assurance, and
• service/people management.

Metrics are more diagnostic than curative: https://buff.ly/3RiolyQ

----------
Make dismal #CustomerService a thing of the past when you outsource your #CustomerSupport needs: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CallCenterOutsourcing #CallCenters
#CustomerExperience
Open Access BPO
Open Access BPO5 days ago
Customers appreciate brands with #eCommerce websites that have #LiveChatSupport because of its convenience, speed, and humanized interaction.
You need to optimize these 4 features to make your #ChatSupport exceptional: https://buff.ly/3fhVflL

----------
Upgrade #CustomerExperience with our 24/7 multichannel #CustomerSupport solutions: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CustomerService #eCommerce
Open Access BPO
Open Access BPO1 week ago
#Repost | Team Allied Services and You:
𝗢𝗽𝗲𝗻 𝗔𝗰𝗰𝗲𝘀𝘀 𝗕𝗣𝗢 is once again supporting #RyansRun during the TCS New York City Marathon this November.

Ryan's Run is a nonprofit organization and NYC Marathon Charity Partner. This #sponsorship supports #charity healthcare system Allied Services and their goal to improve the lives of people with disabilities, life-changing injuries, and chronic illnesses.

Photo shows Open Access BPO CEO Ben Davidowitz presenting the multilingual #CallCenter's donation to Allied Services' Jim Brogna and Steve Davidowitz.

----------
Open Access BPO is a multilingual call center with locations in both the Philippines and the United States. The company’s Chief Operating Officer, Ben Davidowitz, grew up in Kingston, PA. His brother, Steve, has been part of the charity campaign since its inception in 2010, and will be running the TCS New York City Marathon once again this year as part of Team Allied Services and You. He will be joined by an Open Access BPO employee.

Thank you @openaccessbpo

#openaccessbpo #teamalliedservicesandyou #pinoyrunner
#tcsnycmarathon #partnership #support #WeSpeakYourLanguage
#NYCMarathon2022
Open Access BPO
Open Access BPO1 week ago
Open Access BPO, in partnership with the Philippine Red Cross, is holding a #BloodDonation drive on September 28.

Employees who haven't signed up as #BloodDonors may do so by filling out this form: https://buff.ly/3dvNyI6

𝗦𝗮𝘃𝗲 𝗮 𝗟𝗶𝗳𝗲 𝗕𝗹𝗼𝗼𝗱 𝗗𝗿𝗶𝘃𝗲 𝟮𝟬𝟮𝟮
September 28 | 10:00 AM - 3:00 PM PST
Open Access BPO Makati, Glorietta 2 site lobby

#WeSpeakYourLanguage
#DonateBlood
Open Access BPO
Open Access BPO2 weeks ago
#Gamification works to create healthy competition and camaraderie among your #CallCenter agents while ensuring productivity and high quality support for your customers.

But it only works if done right. Here are several tips you can use to gamify your contact center: https://buff.ly/3dvR6Kt

----------
Ensure high quality support for your customers: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
Open Access BPO