Security Magazine logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Security Magazine logo
  • NEWS
    • Security Newswire
    • Technologies & Solutions
  • MANAGEMENT
    • Leadership Management
    • Enterprise Services
    • Security Education & Training
    • Logical Security
    • Security & Business Resilience
    • Profiles in Excellence
  • PHYSICAL
    • Access Management
    • Fire & Life Safety
    • Identity Management
    • Physical Security
    • Video Surveillance
    • Case Studies (Physical)
  • CYBER
    • Cybersecurity News
    • More
  • BLOG
  • COLUMNS
    • Cyber Tactics
    • Leadership & Management
    • Security Talk
    • Career Intelligence
    • Leader to Leader
    • Cybersecurity Education & Training
  • EXCLUSIVES
    • Annual Guarding Report
    • Most Influential People in Security
    • The Security Benchmark Report
    • The Security Leadership Issue
    • Top Guard and Security Officer Companies
    • Top Cybersecurity Leaders
    • Women in Security
  • SECTORS
    • Arenas / Stadiums / Leagues / Entertainment
    • Banking/Finance/Insurance
    • Construction, Real Estate, Property Management
    • Education: K-12
    • Education: University
    • Government: Federal, State and Local
    • Hospitality & Casinos
    • Hospitals & Medical Centers
    • Infrastructure:Electric,Gas & Water
    • Ports: Sea, Land, & Air
    • Retail/Restaurants/Convenience
    • Transportation/Logistics/Supply Chain/Distribution/ Warehousing
  • EVENTS
    • Industry Events
    • Webinars
    • Solutions by Sector
    • Security 500 Conference
  • MEDIA
    • Videos
      • Cybersecurity & Geopolitical Discussion
      • Ask Me Anything (AMA) Series
    • Podcasts
    • Polls
    • Photo Galleries
  • MORE
    • Call for Entries
    • Classifieds & Job Listings
    • Continuing Education
    • Newsletter
    • Sponsor Insights
    • Store
    • White Papers
  • EMAG
    • eMagazine
    • This Month's Content
    • Advertise
  • SIGN UP!
Security Enterprise ServicesBanking/Finance/InsuranceRetail/Restaurants/Convenience

Survey Reports 30-Percent Rise in Phone Fraud

Generic Image for Enterprise Services
June 18, 2015

Research from Pindrop Security has found a 30-percent rise in phone fraud attacks on enterprises and more than 86.2 million attacks per month on U.S. consumers.

The annual Phone Fraud Report said that large financial institutions’ call centers were exposed to an average of more than $9 million in potential fraud each year. Financial and retail institutions have seen an increase in phone fraud of more than 30 percent since 2013, with one in every 2,200 calls being fraudulent. This rate increases for retailers that sell popular, expensive products with a high resell rate. The report also indicates that credit card issuers receive the highest rate of fraud attempts, with one in every 900 calls being fraudulent.

“These attackers are sophisticated, using a variety of tactics, including automation, working in criminal rings and using both the phone and cyber channel to make tracking their actions more difficult,” said Matt Garland, vice president of research and head of Pindrop Security’s newly formed Pindrop Labs team, which analyzed the data behind the report. “As major data breaches such as Anthem and Target have occurred, attackers have found the phone channel to be the vulnerable underbelly for corporations and consumers, allowing them to monetize the breaches through social engineering and account takeovers.”

Other report findings include:

  • On average, large financial institutions exposed more than $9m in funds to attackers last year. Exposure measures the value of accounts in which an attacker was able to authenticate to the account.
  • Banks experience a fraud call rate of one in every 2,650 calls. Brokerages report slightly less, with only one in 3,000 calls being fraud.
  • More than 86.2 million calls per month in the U.S. are phone scams, and 36 million of those calls can be traced to one of the 25 most common phone scams.
  • Attackers use VoIP lines for 53 percent of their calls, compared to 7.8 percent of the general public using VoIP as a means for phone communication.

http://www.darkreading.com/attacks-breaches/pindrop-security-reveals-financial-and-retail-institution-call-centers-see-30-percent-rise-in-phone-fraud/d/d-id/1320915
 

KEYWORDS: call centers fraud trends

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
To unlock your recommendations.

Already have an account? Sign In

  • Security's Top Cybersecurity Leaders 2024

    Security's Top Cybersecurity Leaders 2024

    Security magazine's Top Cybersecurity Leaders 2024 award...
    Security Leadership and Management
    By: Security Staff
  • cyber brain

    The intersection of cybersecurity and artificial intelligence

    Artificial intelligence (AI) is a valuable cybersecurity...
    Columns
    By: Pam Nigro
  • artificial intelligence AI graphic

    Assessing the pros and cons of AI for cybersecurity

    Artificial intelligence (AI) has significant implications...
    Cybersecurity
    By: Charles Denyer
Subscribe For Free!
  • Security eNewsletter & Other eNews Alerts
  • eMagazine Subscriptions
  • Manage My Preferences
  • Online Registration
  • Mobile App
  • Subscription Customer Service

More Videos

Sponsored Content

Sponsored Content is a special paid section where industry companies provide high quality, objective, non-commercial content around topics of interest to the Security audience. All Sponsored Content is supplied by the advertising company and any opinions expressed in this article are those of the author and not necessarily reflect the views of Security or its parent company, BNP Media. Interested in participating in our Sponsored Content section? Contact your local rep!

close
  • Crisis Response Team
    Sponsored byEverbridge

    Automate or Fall Behind – Crisis Response at the Speed of Risk

  • Perimeter security
    Sponsored byAMAROK

    Why Property Security is the New Competitive Advantage

  • Duty of Care
    Sponsored byAMAROK

    Integrating Technology and Physical Security to Advance Duty of Care

Popular Stories

Internal computer parts

Critical Software Vulnerabilities Rose 37% in 2024

Coding

AI Emerges as the Top Concern for Security Leaders

Half open laptop

“Luigi Was Right”: A Look at the Website Sharing Data on More Than 1,000 Executives

Person working on laptop

Governance in the Age of Citizen Developers and AI

patient at healthcare reception desk

Almost Half of Healthcare Breaches Involved Microsoft 365

2025 Security Benchmark banner

Events

June 24, 2025

Inside a Modern GSOC: How Anthropic Benchmarks Risk Detection Tools for Speed and Accuracy

For today's security teams, making informed decisions in the first moments of a crisis is critical.

August 27, 2025

Risk Mitigation as a Competitive Edge

In today’s volatile environment, a robust risk management strategy isn’t just a requirement—it’s a foundation for organizational resilience. From cyber threats to climate disruptions, the ability to anticipate, withstand, and adapt to disruption is becoming a hallmark of industry leaders.

View All Submit An Event

Products

Security Culture: A How-to Guide for Improving Security Culture and Dealing with People Risk in Your Organisation

Security Culture: A How-to Guide for Improving Security Culture and Dealing with People Risk in Your Organisation

See More Products

Related Articles

  • FBI Reports Rise In Hate Crimes

    See More
  • Golden lock and credit cards on keyboard

    90% of Americans are concerned about the rise in fraud

    See More
  • cyber7-900px.jpg

    Fraud Attacks Increase 30% in Q3 2019

    See More

Related Products

See More Products
  • Risk-Analysis.gif

    Risk Analysis and the Security Survey, 4th Edition

  • highriseproductphoto

    High-Rise Security and Fire Life Safety, 3rd edition

See More Products
×

Sign-up to receive top management & result-driven techniques in the industry.

Join over 20,000+ industry leaders who receive our premium content.

SIGN UP TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletter
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing