NICE Systems has announced the launch of its Contact Center Fraud Prevention solution, which tracks fraud patterns and screens all phone interactions for fraud against a watch list of known fraudsters. The solution brings together NICE Actimize’s extensive expertise in fraud with NICE’s years of experience in the contact center. The solution can be deployed as a standalone contact center solution or as part of the NICE Actimize enterprise fraud offering.
Aite Group claims that fraud in the contact center is on the rise and, while many businesses have recognized the need to protect customer data and secure online transactions, the phone channel has become a target for fraud. Datamonitor estimates that 20 percent of people who are defrauded will leave the institution at which this occurred.
Fraudsters often use social engineering by leveraging information available on social networks, enabling them to manipulate and trick customer service agents who continue to verify caller identity through traditional means.
“Preventing fraud losses and protecting clients’ personal information are essential goals for enterprises and contact centers. Unfortunately, most agents do not have tools to help them identify fraudsters, which puts the enterprise and customers at risk,” said Donna Fluss, President, DMG Consulting LLC. “Social media represents a goldmine for fraudsters. Almost every person has a digital footprint, which can be mined for nefarious purposes. Every public and private organization needs to equip their agents and other employees with tools and best practices to prevent losses.”
By focusing on high-risk interactions, companies can channel their resources more efficiently, thereby reducing their operating costs and cutting their fraud losses. Furthermore, companies can offer better service to legitimate customers by streamlining operations for safe interactions without compromising their early fraud detection and proactive contact with customers.
