Traditional KBA doesn't stop professional fraudsters
Today, traditional call center security isn't stopping professional fraudsters who are armed with better technology, stolen identities, social engineering skills, and ring coordination. Recent data shows an increasing number of successful attacks, with KBA (knowledge-based authentication) beaten 80% of the time.
Most fraud is repeat calls by the same fraudsters
Professional fraudsters explore a call center's processes, discover weaknesses, then repeatedly attack. Using Victrio, clients can measure the 'repeat fraud rate', the percentage of total fraud calls in a time period by the same callers. Repeat rates are measured to be shockingly high across the industry:
Brokerage fraud: 71%-89% repeat rate
Credit Card fraud: 72%-95% repeat rate
Deposit Account fraud: 42%-76% repeat rate