The Javelin Strategy & Research Identity Theft Report 2013 states that 5.16% of US customers suffered from identity theft amounting to US$20.9 billion. Moreover, Tablet users had the highest probability of fraud at 9.6%. Victims of data breach had a 22.5% likelihood to becoming fraud victims. Hence, it is clear that while organizations are deploying more processes, technology and resources to prevent fraud, the fraudsters are having a ball. One thing fraudsters do, is to think outside the box. So we have to take a leaf out of their book and be innovative in our approach to prevent and detect fraud. Below are some ideas on the same. Share with me your thoughts on what you think about them.
1) Voice Print Analysis
Presently, in most of the banks, a call center agent asks a set of questions to verify the identity of customer for telephone banking. Internal employees…
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