The Telco Fraud Problem
Contact centers predominantly rely on technology such as ANI matching and knowledge-based authentication (KBA) to verify caller identities. But for professional fraudsters, these security barriers are easy to bypass. It doesn’t take a skilled criminal long to mine public records, social media sites, the dark web, or use social engineering tactics to find the information needed to commit identity fraud.
When onboarding new subscribers, Telcos have little to rely on beyond weak KBA tools. This opens the door for bad actors to establish accounts and subsequently gain access to expensive devices and services. Given the nature of the business, it can take the Telco weeks or even months to discover subscription fraud.
Fraudsters use stolen or fake identities to set up new accounts
They then gain access to Telco services and equipment
If successful once, fraudsters often strike repeatedly and quickly
It can take weeks or months to discover a fraudulent account
Make Voice Your First Defense in Fighting Telco Subscription Fraud
Voice biometrics is the science of using a person’s voice to verify identity. While a legitimate user won’t have an enrolled voice on file to verify, a repeat fraudster would. This is the power of IDFraud Contact Center. Using ID R&D’s highly rated Text Independent Voice Biometric technology, Telcos can now check new callers against a “watchlist” of known fraudsters. Taking it a step further, the voices of new callers can also be compared against other recently opened accounts to identify the same voice being used by multiple identities.