This report talks about PSCU’s (Payment Solution for Credit Union) proactive partnership to fight against call center fraud. Call center fraud is the act of a criminal impersonating a consumer via a phone channel to acquire access to sensitive account data and funds. PSDU has joined Pindrop which is voice security and authentication provider to combat fraud, reducing authentication cost and fraud loss.
In the last 2 years voice fraud has risen to 45% and the related fraud loss to 14%. The voice channel accounted for more than $10 billion in fraud last year in US. PSDU aims to reduce the fraud by applying additional layers of security and intelligence to the risk management protocol to detect and prevent fraud.