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Criminals Target Call Centres To Obtain Consumer Financial Information

by on September 15, 2016

Banks all over the world have plenty of reasons to be concerned in the digital age. Call centre fraud is a new emerging trend, particularly in the United Kingdom. Most criminals groups target call centres to access customer funds and take over some of their financial accounts. All of this data is then either used for personal gain or sold on the darknet.

As a bank customer, thinking one’s information is secure and safe seems to be an illusion. There are plenty of steps along the way where information can be obtained by internet criminals. Call centres, often a front line for storing customer and payment information on behalf of companies and banks, are becoming a new target.

Call Centres Are The Weakest Link For Personal Information

There are a few different reasons why criminals are flocking to the phone industry all of a sudden. The number of online data breaches is on the rise, partially thanks to social engineering skills. Additionally, most locations have very strong security, making it difficult for criminals to obtain information. All of this leads to call centres being the weakest link in the equation. Rest assured criminals will not hesitate to take advantage.

Phone calls also allow criminals to impersonate bank staff. Since people are getting so used to cold calling, there is few effort on the consumer site to verify this is a genuine call. Protecting finances from fraudsters, especially over the phone, should be a top priority. For some reason, that is not the case.

Once a criminal has obtained the necessary info, they have two options. Either they use the personal and financial information for their own gain. A more lucrative approach, however, is reselling the information on the darknet. There are multiple marketplaces where personal and financial information is bought and sold on a daily basis.

The bigger question is whether or not technology can help to secure information. In most cases, it is more than capable of doing so. Unfortunately, technology cannot fix human error and flaws in our very nature. Common sense often trumps everything else, yet it is very hard to come by these days.

Header image courtesy of Shutterstock

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