Calling out sweet-talking fraudsters

For cardholders, call centers represent a simple, convenient way to interact with their financial institutions (FIs). Fraudsters, too, love these resources. They are increasingly turning to call centers as their preferred method for committing fraud. In fact, recent research shows call center fraud attempts more than tripled between 2014 and 2015.

With more than 800 data breaches identified in 2016 already, fraudsters now have many of the qualifying details necessary to pass themselves off as true cardholders. To top it all off, some of these fraudsters are getting more adept at charming call center representatives to give away or change cardholder account data.

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