Contact centres a point of attack for voice-facilitated fraud

Property and casualty insurance is not immune to the growing problem of voice-facilitated fraud in a number of industries and contact centres may be a vulnerable point of attack, notes information from Mattersight Corporation.

Fraudsters are buying policies under stolen identities and then submitting large medical claims from staged or fake accidents, the company reports, based on findings and insights from its Fraud Analytics solution.

The analysis shows approximately one in every 2,000 calls in credit card contact centres is from a known fraudster, and as much as 40% of all financial institution fraud involves interaction with a contact centre.

The solution, Mattersight suggests, is to identify fraudsters and fraud rings that use the following tactics to gain access to consumers’ identities and finances:

*            answering authentication questions using publicly available information found on websites;

*            leveraging technology capable of making it appear that a call is coming from the actual customer’s phone number;

*            using voice-altering technology or third-party callers to make the voice sound similar to that of the actual customer;

*            impersonating company employees when calling the contact centre to gain access to customers’ identities and accounts.

Fraud-fighting strategies involve capturing customer interactions and automatically analyzing each one, Mattersight notes. Data attributes on the interactions include caller biometrics and acoustics, linguistic patterns, non-linguistic data and account contextual data, the company reports. The attributes are leveraged in predictive models that score every captured interaction for the percentage likelihood each caller is a fraudster.