To cut back on issues of fraud at the call center level, many financial institutions are thinking about adding voice biometric authentication capabilities to ward off socially engineered attacks.
As reported by Bank Info Security, incidences of fraud geared toward call centers is on the rise, with attackers using social methods to talk call center employees into sharing or changing information about accounts. These methods can easily circumvent layers of authentication technology institutions put into place to conduct the same types of transactions online.
Although voice biometrics can expensive to implement, banks and credit unions are looking at it as a way to add protection, especially as they add layers of authentication in the online channel to comply with FFIEC Authentication Guidance.
Another challenge with implementing voice biometrics at the call center level is that the technology combined specifically with fraud prevention measures is still somewhat new. Technology companies, including Victrio, are developing voice biometric products that will help in call center fraud. Whether or not banks will soon start implementing these products remains to be seen.
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