Optimize Your Workforce to Protect Consumers Against Call Center Fraud

Think about the types of security questions you have answered in order to retrieve a forgotten username or password or as an added security measure – your mother’s maiden name, your pet’s name, your hometown, etc. Now think about how easily someone can find out that information simply by looking at your social media profiles. Access to information through social media is just one way consumers are enabling fraud across different contact center channels.

In the spirit of National Consumer Protection Week, I spoke with Matthew Storm (News - Alert), director, innovation and solutions at NICE Systems, a provider of interactions management, workforce optimization and fraud protection solutions in the contact center. This week is all about raising awareness about consumer protection against fraud. NCPW.gov offers a wealth of resources full of tips and information from federal and state governments and not-for-profit partner organizations, including the Better Business Bureau, the FBI, the IRS and the National Cyber Security Alliance.

“We’re very excited to see the work of the Federal Trade Commission along with all of their other partners,” said Storm, “many in various industries all out there just to raise awareness and educate consumers on how to protect themselves.”

Protecting fraud in call centers is not only in the consumer’s interest, but for organizations as well. About 20 percent of customers will churn after they’ve been victimized – companies that take a proactive stance in tackling fraud have a better chance in improving customer satisfaction and loyalty.

“Fraud is often something that the consumer has to be on the lookout for, but it’s also something that smart organizations are taking proactive steps to ensure that doesn’t happen for their customers,” Storm said. “The contact center is a very susceptible avenue for fraud because of what’s sometimes call social engineering.”

Identity theft is among the most common types of fraud occurring in the contact center. Storm explains how social engineering, manipulating people into performing actions or divulging confidential information, is prominent in fraud today. People offer a great deal of information that can help give up data such as passwords without even realizing it.  

Two industries in particular are seeing a large amount of fraud: financial services and telecommunications. Personal banking as it relates to credit cards, debit cards and wire transfers is a target for fraud, and wireless providers are also seeing fraud attempts to order smartphones or devices and having them shipped to other locations and to obtain greater access to online account information.

There are steps companies can take to conquer and prevent fraud. Real-time monitoring allows agents and companies to own the “decisive moment” and face and address challenges as they happen. Proper coaching and monitoring is also key to helping agents to provide quality customer service as well as for investigation purposes. Also, taking action to comply with PCI (News - Alert) regulations as they relate to credit card privacy helps companies avoid fraud activity.

NICE’s Contact Center Fraud Prevention solution takes the human element into the equation by using voice biometrics to make sure agents can detect perpetrators. The multilayered fraud prevention solution leverages automated voice biometrics technology to identify suspicious interactions as they happen, helping protect consumers against known fraudsters and helping agents handle high-risk interactions. The solution offers voice biometrics, interaction analytics, context analytics, case management and real-time guidance capabilities to help eliminate fraud in the contact center.

As a consumer, the key to preventing fraud is to stay informed about who you buy from, interactions you have and what information you are giving to the public. Check out NCPW.gov for numerous resources full of tips and information to help make the best choices when it comes to your online and personal security.