emerging consumer scams of 2016 webcast
TRANSCRIPT
Personas Strategy
2016 Emerging Consumer ScamsAude Marzuoli, Research ScientistPindrop March 9, 2016
2015 Pindrop Security. Confidential.
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How many bad actors are responsible for50% of spam calls?
2016 PindropAttack of the Robocallers
2016 PindropFrom the 2015 Phone Fraud Report3
Consumer Phone Fraud Loss11%consumers lost money to a phone scam in 2015
53%increase in reported phone scams over 2014
$7.4Bamount lost to consumer phone scams annually
2016 PindropHarris Poll -- http://www.webwire.com/ViewPressRel.asp?aId=2018974
The Call Center Fraud Timeline
PRE-CRIME
ACCESS
MONETIZE
POST-CRIMEGather, Augment, Test & Change DataUse Data to PassAuthenticationExisting Account Fraudor New Account FraudVerify FraudWas Successful
2016 PindropMore importantly, these scams are the first step in a much larger fraud ecosystem. In addition to making fast money, these fraudsters are collecting personal data that goes on to support bigger fraud schemes that target banks, retailers, etc.5
The Human Element
ConsumersCall Center Agents
2016 PindropAll these techniques were going to discuss are being used on more than just consumers, theyre also being used in your call center.
Social engineering is the weak link in telephony security, which is why call centers need data-driven anti-fraud solutions.
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Methodology - PhoneypotPhoneypotTM
A month in our Honeypot:550,000 calls from 90,000 source ANIs to 40,000 destination phone numbers.
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Cluster extractionAlice calling about business loan
Free cruise to the Bahamas
Sherrie online specialist for google, yahoo, bing
Google business listing records
Back Brace shown on TV commercial
Home security system
Are you trapped in student loans?
Professional Carpet Cleaning
IRS & taxes
Healthcare Regulation for seniors
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Campaign ANALYSISTraffic in the Honeypot in 2015:Red dots = sources callingDark dots = destinations called
2016 PindropTop EMERGING Scams in 2016
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Political SCAMS and SPAM
Credit Card Information
Recent News
2016 PindropSince the beginning of 2016, rise in political robocalls:Some are legitimate: candidates asking for votes, survey calls, charity callsBut some are operating in a grey space: live teleconferences of up to several million peopleAnd others are suspicious: calls asking you to make donations over the phone.
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MasterCard Settlement
Fear & Confusion
Recent News
Impersonation
2016 PindropNew scamAfter a class action suit, a six billion dollar settlement was reached with merchants who have accepted Visa and Mastercard in the past decade.Techniques:Topic from the headlinesConfusion about financesImpersonation
54 identical recordings from 6 sources to 136destinations:\Attention retailer this is fair processing comeon you within important announcement you mayopt out to be even move from this call us at anytime by pressing nine energy that a recent seasonmastercard settlement could mean you have anyold back to your business for overcharge speedand your merchant account there ve billion dollarsand be able to pay back merchant for thiscurrent settlement this is not an automatic credityou must actively opt into the class action toget your settlement if you're correct or12
Home Security Systems
High Pressure Sales
Credit Card Information
Fear & Confusion
2016 PindropSecond most popular scam in 2014 (13.6%) 110 recordings traced back to 13 bad callersTechniques:High Pressure SalesFear & Confusion (FBI has reported crime in your area)Collect credit card information
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Free Cruise
High Pressure Sales
Youve Won!
Credit Card Information
2016 PindropVariation: Free Vacation, DisneyPeaked in 2014 (7.5%), but continuing to be popular (3.2%)Techniques:Youve Won!High Pressure Sales & Add-On Charges or TaxesCollecting credit card information
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Healthcare
Recent News
Fear & Confusion
2016 PindropVariations: cheap health insurance, ObamacareConfusion around upcoming tax deadlinesTechniques:Topic from the headlinesConfusion about finances
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1. Google
High Pressure Sales
Impersonation
Fear & Confusion
2016 PindropMore than 12 variations related to Google: Bing, Google Plus, Google Search, Google ListingsFirst appeared in mid-20154% in 2015 to 22% in 2016563 recordings traced to 75 bad callers
The \Sharon Google scam" clustercontains 2,209 recordings from 24 sources to 1,807 destinationsover three weeks. The \Optimize your Google listingscam" contains 228 recordings from 4 sources to 197 destinations.
Techniques:ImpersonationHigh Pressure SalesThreats
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What Consumers Can DONational Do Not Call RegistryDont Trust Caller IDDont Wire MoneyDont Answer, Dont Interact, Dont Request to be removed
2016 PindropWhat Enterprises Can DoWarn consumersGather reports or complaints from customersShare complaint data outside your organization
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Our studies show that over 50% of robocalls are generated by a handful of bad actors, whose audio signature Pindrop can uniquely identify.
2016 PindropOur studies show that over 50% of robocalls are generated by a handful of bad actors, whose audio signature Pindrop can uniquely identify.We closely monitor on a daily basis the evolution of spam and scam campaigns.Our long term goal is to close the loop on the telephony fraud ecosystem.
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Q & A
2016 PindropPindropPhone Fraud Stops Here.For more information visit pindrop.com or email [email protected]
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