"Pre-Pandemic Techniques Are Fueling Record Fraud Rates"

According to Pindrop, the rise and adoption of Artificial Intelligence (AI), an impending recession, and the return of pre-pandemic fraud techniques are driving record rates of fraud attacks against consumers and businesses. States with restrictions on biometrics use are twice as likely to experience fraud. During periods of economic instability, fraud increases. In the fourth quarter of 2022, financial institutions experienced a 53 percent year-over-year increase in fraudulent activity. Fraudsters are taking advantage of data from the dark web and testing it in the Interactive Voice Response (IVR) to identify high-value accounts and attack those accounts together with other fraudsters. Retail has become one of the verticals with the highest incidence of fraud, with one in 347 calls to call centers supporting online retailers being fraudulent. This article continues to discuss key findings from Pindrop's Voice Intelligence and Security Report. 

Help Net Security reports "Pre-Pandemic Techniques Are Fueling Record Fraud Rates"