How contact centers detect and prevent fraud

<p>Contact center fraud is a reality that organizations must prepare for or else risk considerable losses due to security lapses in customer data protection. Successful fraud schemes can damage a brand’s reputation and result in compliance liability, especially in heavily regulated industries, such as financial services and healthcare.</p>
<p>As contact centers expand into digital channels and remote operations, fraud detection has become a critical component of customer experience and data security strategies.</p>
<p>Companies can mitigate their vulnerability to unauthorized access or disclosure of confidential information with the right blend of <a href=”https://www.techtarget.com/searchcustomerexperience/tip/Best-practices-for-call-center-agent-training-programs”>comprehensive agent training</a>, well-documented authentication and data security processes, and contact center fraud detection technologies.</p>
<section class=”section main-article-chapter” data-menu-title=”What is contact center fraud?”>
<h2 class=”section-title”><i class=”icon” data-icon=”1″></i>What is contact center fraud?</h2>
<p>At many businesses, traditional call centers and customer service and support operations have <a href=”https://www.techtarget.com/searchcustomerexperience/feature/History-and-evolution-of-contact-centers”>evolved into contact centers</a> to handle customer communications across multiple channels, including phone calls, live chats, email, social media, text messaging (SMS), mobile apps and video calls.</p>
<p>Cybercriminals target contact centers to gain access to sensitive customer information by exploiting agents and weak authentication processes. These bad actors can then use personally identifiable information (<a href=”https://www.techtarget.com/searchsecurity/definition/personally-identifiable-information-PII”>PII</a>) and other account data — Social Security numbers, financial institutions and credit card numbers — to commit identity theft, set up fake accounts and participate in bank and credit card fraud.</p>
</section>
<section class=”section main-article-chapter” data-menu-title=”Why do bad actors target contact centers?”>
<h2 class=”section-title”><i class=”icon” data-icon=”1″></i>Why do bad actors target contact centers?</h2>
<p>Contact centers are popular targets for fraud because poorly trained agents are often vulnerable to manipulation. A toll-free number used for customer service and transactions such as purchases can allow criminals to initiate numerous fraud attempts while maintaining anonymity, provided they use caller ID spoofing techniques. Unsuspecting agents, especially in call centers, make excellent attack vectors since they’re all that stand between a fraudster and customer accounts.</p>
<p>The expansion of <a href=”https://www.techtarget.com/searchcustomerexperience/tip/How-to-manage-remote-call-center-agents”>hybrid and remote contact center operations</a> has introduced new fraud detection challenges. Remote work has made it increasingly difficult for agents to receive proper fraud detection training or guidance from co-workers. As a result, they may struggle with using anti-fraud tools remotely.</p>
<figure class=”main-article-image full-col” data-img-fullsize=”https://www.techtarget.com/rms/onlineimages/call_center_compliance_checklist-f.png”>
<img data-src=”https://www.techtarget.com/rms/onlineimages/call_center_compliance_checklist-f_mobile.png” class=”lazy” data-srcset=”https://www.techtarget.com/rms/onlineimages/call_center_compliance_checklist-f_mobile.png 960w,https://www.techtarget.com/rms/onlineimages/call_center_compliance_checklist-f.png 1280w” alt=”Graphic showing a contact center compliance checklist, including securing networks, authenticating customers, recording conversations and managing sensitive information.” height=”266″ width=”560″>
<figcaption>
<i class=”icon pictures” data-icon=”z”></i>Contact center compliance programs help organizations reduce fraud risk by securing networks, authenticating customers, protecting sensitive data and following privacy and consumer protection regulations.
</figcaption>
<div class=”main-article-image-enlarge”>
<i class=”icon” data-icon=”w”></i>
</div>
</figure>
</section>
<section class=”section main-article-chapter” data-menu-title=”Common types of contact center fraud”>
<h2 class=”section-title”><i class=”icon” data-icon=”1″></i>Common types of contact center fraud</h2>
<p>While contact centers encounter many types of fraud, the most common are identity theft, account takeover, stolen credit card information and finagling free merchandise.</p>
<p><b>Identity theft.&lt

[…]
Content was cut in order to protect the source.Please visit the source for the rest of the article.