Over the past 10 years there has been a dramatic increase in the use of call centres and the internet as channels to market. This has been matched by massive growth in identity theft and fraud.
Identity theft is recognised as one of the fastest growing types of fraud. A report published by the Federal Trade Commission (FTC) estimated that in 2003 around 10 million Americans discovered they were victims of identity theft. The total cost of this fraud was estimated at over $50billion.
In the UK, CIFAS, the UK’s Fraud Prevention Service reported that cases of False Identity and Impersonation fraud grew by 600% between 1999 and 2004. They estimated that the 120,000 cases reported in 2004 alone cost the British Economy £300m.
Additionally, APACS, the UK banks clearing service, reported £500m worth of UK issued plastic card fraud in 2004 - representing a fraudulent transaction taking place every eight seconds. Of this, £150m of fraud related to ‘card not present’ fraud – up 24% from 2003. APACS state that this crime most commonly involves the theft of genuine cards details to make a purchase through a remote channel such as the phone or internet. |
Tackling these risks has never been more important to protect your business and retain customer confidence in phone and internet channels to market. VoiceVault’s reliable and accurate range of voice verified services helps fight these challenges.
- Caller Authentication verifies the true identity of callers through their voice, rather than easily lost or stolen passwords or PINS.
- Payment Verification adds ‘speak on the dotted line’ digital signatures to credit or debit card payments over the phone or web.
- Web Authentication dramatically improves the security of your web services
VoiceVault removes the dependency on insecure PINS and Passwords helping build customer confidence in the security of your services.
Learn more about VoiceVault
Please contact VoiceVault to discuss how voice verification can help your business fight identity theft and fraud: info@voicevault.com
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