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 discover a shockingly high 'repeat fraud rate' (the percentage of total fraud calls in a time period by the same callers): 75%-95% across the industry.
Wireless: Telesales Fraud
The Telesales functions within many wireless carriers are plagued by professional fraudsters, who account for the majority of fraud losses. For one nationwide U.S. carrier, just 6 individual fraudsters drove 42% of monthly losses. In addition, these professional fraudsters were able to successfully navigate through the KBA process with the same success rate as legitimate customers.