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.