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Home | Contact Center Optimization | What is Contact Center Fraud? How can you Detect it?
Home | Contact Center Optimization | What is Contact Center Fraud? How can you Detect it?

What is Contact Center Fraud? How can you Detect it?

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Contact Center Fraud

Call center fraud is when a third party calls a call center and pretends to be you to access your personal information, data or account settings. One of the best ways to detect this is through call source analytics.

Despite the fact that cloud call center software is intended to improve communication within a company, there are numerous challenges involved. If you are not attentive enough, they can endanger your company. Read on to discover how Call Center Studio can help.

What is Contact Center Fraud?

Has it ever crossed your mind that someone else could impersonate you just so they could get hold of all your account settings (probably change them), your business information and data or your documents? This is referred to as ‘call center fraud’. Even though call center software enables a brand to improve customer service with quick and flexible interactions, it does pose potential risks. 

 

These risks, if unknown, could lead to the downfall of your business. 

 

Types of Contact Center Fraud

For you to fight call center fraud, it is essential that you know the various ways that fraud can manifest itself. This way, you know exactly what to look out for. Here are a few examples:

Phishing

Today, phishing campaigns do not only manifest themselves as a mild nuisance that disrupts your daily operations but also as risky, well-crafted emails. Opening a suspicious email pop-up may mean opening yourself to a world of hurt. These emails are designed to induce a call center company to provide an attacker with login credentials, credit and card numbers, and your private information, among other details that offer monetary benefits.

Account Takeover

Another common type of call center fraud is account takeover, commonly known as ATO. A third party works to find valuable information such as the date of birth, place of birth, ID number, or middle name. The goal is to find any piece of information that could help crack the authentication process. Once their intentions are successful, they log in to your account, change the account log-ins and use it as their own.

Card-Not-Present Fraud

CNP, popularly known as card-not-present, is a type of fraud that has grown popular over the years. This fraud occurs when a third party accesses your credit card. Here, the attacker uses the card as if it were their own. The attacker may subscribe to new subscriptions, shop for items, and pay bills using your card. This is possible since they can bypass the visual check once they hack into your credit account. 

Identity Theft

Just as the name suggests, this type of fraud involves the theft of an identity. For an attacker to successfully carry out this fraud, they usually have fishy schemes for obtaining crucial information about the victim. They get this information from unsecured wifi connections, unprotected computer devices, data breaches, and victims unknowingly sharing the information.

Once they have the information they need, the attacker proceeds to use it to misguide call center companies, leading to financial losses.

Network Jacks

When cybercriminals creep into a call center, they gain access to network jacks. This means another device can connect to your network and access all of your personal data. Consider embracing two-factor authentication for more solid security.

 

How can you Identify Contact Center Fraud

 

How can you Identify Contact Center Fraud?

Now that you know the extent of the risks that call center fraud poses to your business and network, it is crucial that you know how to identify it. How do you know if a third party has committed or is trying to commit call center fraud? Below are simple but sure tips:

Suspicious Attempts to Build Rapport

In most cases, a business or individual does not even know they have been scammed until after the incident. Most cybercriminals target their victims’ information by building a solid rapport over time. Here, they can easily ask for whatever they need to accomplish their goals since they have established a good and trustworthy relationship with a call service agent.

Difficulty in Answering KBA Questions

A quick way to tell if you are dealing with a scammer is if they can answer KBA questions. Here, it is essential that you check on how long they take to answer the questions too. Do they take very long breaks when answering questions? This is one of the red flags. Only a legitimate owner can accurately answer the questions you provide in a timely manner.

Suspicious Requests

You can use the requests you receive to evaluate if an individual is trying to get into your accounts. Be aware that a scammer will request and most likely even push you to change the credentials of an account. They may also want to change the log-ins within a very short period. This way, they change the ownership of your accounts to their own. 

Change of Plans After Asking For Two-Factor Authentification

Another way you can easily identify a cyber criminal is if they shy away once you ask for two-factor authentification. This clearly shows that they cannot complete the two-factor authentification hence raising flags. 

 

How to Prevent Contact Center Fraud

 

How to Prevent Contact Center Fraud

It is best that you take care of issues before they get out of hand. Below are tips on how you can prevent call center fraud:

Educate Your Employees

Educating your employees is one of the best ways you can fight call center fraud in your company. Once they have enough and accurate knowledge on frauds, how to detect them, and how they work they will have a smoother time handling them. It would be wise if you formed awareness campaigns here.

Implement Security Measures

If you are sure about the security measures that your business implements, call center fraud is not something that will worry you. Ensure that your data and all credentials are secure. You can employ measures such as the use of two-factor authentication. Here, a third party will have to go through an extra verification process before they can access any information.

Monitor Calls and Transactions

A scammer’s details will never match that of the true business owner. By keeping track of calls and transactions made, you can tell who is legit and who isn’t. You should consider installing software that helps monitor behavior during calls.

Staying Up to Date on Fraud Trends

The best way you can secure your business is by staying updated on fraud trends. The trends will help you better manage the risks, detect frauds fast and in real-time, and help predict future fraud behavior.

Conclusion

Detecting and fighting against call center fraud is not easy. You have to go out of your way to ensure that your cloud call center software has solid security. Worry no more; Call Center Studio is the most secure and perfect solution! It is a reliable brand that provides its clients with the assistance they need while improving communication and trust in any organization.