Pindrop Introduces Real-Time Fraud Detection System to Increase Call Center Security

The growing number of fraudulent activities has enabled the use of technology to protect users, corporate call centers, banks and others in the industry, and the introduction of continuous fraud assessment aims to improve the way companies defend against increasingly sophisticated threats to redesign.

Pindrop recently launched its new fraud detection tool called Continuous Scoring, which analyzes historical call data along with real-time information to detect more fraud with accuracy.

“Pindrop Protect Continuous Scoring is our next innovation and a major step forward in the fight against fraud,” said Rahul Sood, Chief Product Officer at Pindrop.

“Our Protect solution provides our customers with great information, so it was a natural evolution for Pindrop to use this information to uncover even more fraud on their behalf. We encourage all customers to try this innovation and experience its benefits.”

Unlike traditional methods that rely on isolated snapshots of a transaction’s risk level, continuous fraud assessment provides ongoing assessment. The method looks at behavioral patterns, risk signals and historical data, providing companies with a real-time fraud risk assessment that evolves as fraudsters change their tactics.

Call center fraud is on the rise. In 2023, 20 percent of reported fraud incidents in the U.S. involved telephone channels, contributing to a 55 percent year-over-year increase in high-risk calls to contact centers, according to the Federal Trade Commission. This increase suggests that a large proportion of fraud may still be going undetected, particularly when interacting through automated systems such as Interactive Voice Response (IVR) channels, which are often used for account fraud. Data shows that up to 61 percent of account takeovers are initiated within call centers.

In a written blog post, Shawn Hall, vice president of product, research and engineering at Pindrop, boasts that the company has expertise in deepfake detection and multi-factor fraud detection, including phoneprinting technology. Pindrop launched its voice deepfake detection tool not long ago.

For its new fraud detection tool, early beta testing has shown promising results, the company claims, reporting that participating organizations detected 22 percent more fraud on average.

A recent report from Pindrop highlighted how continuous fraud assessment can detect fraudulent behavior by analyzing subtle anomalies in user interactions across different channels.

Instead of relying solely on static data like names, account numbers or IP addresses, the approach detects complicated patterns in fraudsters’ behavior, from login time to device usage history. The company notes that fraudsters target call centers by continually scanning for vulnerabilities in business systems.

Article topics

Biometrics | Call center | Deepfake detection | Fraud Prevention | Pindrop | Voice analysis