Call center agents aim to provide exceptional experiences by listening carefully and reacting promptly to customer requests. The system weakness is it does not always recognize spoofed calls from ever-sophisticated defrauders.

Atlanta- based voice security/authentication firm Pindrop Labs in its annual Call Center Fraud Report revealed a significant increase in the fraud rate, a jump of 113% year-over-year. Fraud rates in 2016 were 1 in 937 calls across the board, compared to 1 in 2,000 calls in 2015, according to Pindrop’s 2016 report. For financial institutions, the rates were 1 in every 895 calls.

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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