June 19, 2015 in Blog

Pindrop Security report shows spike in phone fraud attempts

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Pindrop SecurityPindrop Security, an ATDC Graduate Company that provides anti-fraud and authentication solutions for enterprise call centers, says telephone fraud attempts are on the rise. The company, which released its findings in its annual Phone Fraud Report, reported a 30 percent increase in attempts and more than 86.2 million attacks per month on U.S. consumers.

Phone fraud continues to threaten enterprises across industries and borders, with large financial institutions’ call centers exposed to an average of more than $9 million in potential fraud each year, Pindrop Security says. Financial and retail institutions have seen an increase in phone fraud of more than 30 percent since 2013, with one in every 2,200 calls being fraudulent. This rate increases for retailers that sell popular, expensive products with a high resell rate. The report also indicates credit card issuers receive the highest rate of fraud attempts, with one in every 900 calls being fraudulent. Read the full story here.

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