NICE Systems has launched anew technology solution to track fraud patterns and screenphone interactions for deception.

The solution, named Contact Center Fraud Prevention,combines NICE Actimize's expertise in fraud with NICE'sexperience in the contact center. It can be deployed as astandalone contact center solution or as part of the NICE Actimizeenterprise fraud offering.

Organizations can use the system to potentially reducefraud-related losses without creating service hurdles orcompromising the customer experience. The company says thesebenefits can be realized because the system incorporates amulti-layered approach, which includes non-intrusive voicebiometrics technology, speech and transactional analytics, andreal-time capabilities.

According to Aite Group, fraud in the contact center isincreasing. While many businesses have recognized the need toprotect customer data and secure online transactions, the phonechannel has now become a target for fraudsters. Given the factthat Datamonitor estimates 20 percent of victims will leavethe institution where the fraud occurred, this crime isextremely detrimental to the customer relationship.

How Fraudsters Operate

Fraudsters often use social engineering by leveraginginformation available on social networks, enabling them tomanipulate and trick customer service agents who continue to verifycaller identity through traditional means.

“Social media represents a goldmine for fraudsters,” explainsDonna Fluss, president of DMG Consulting LLC. “Almost every personhas a digital footprint, which can be mined for nefarious purposes.Every public and private organization needs to equip their [callcenter] agents and employees with tools and best practices toprevent losses.

“Even though preventing fraud losses and protecting clients' personalinformation are essential goals for enterprises and their callcenters, unfortunately most agents do not have the tools toidentify fraudsters, which in turn puts [both] the enterprise andcustomers at risk,” she adds.

“High Risk” Interactions

NICE's Contact Center Fraud Prevention offering is designed toenable businesses to pinpoint fraudulent callers according to aunique voice print by using voice biometrics to automaticallycross-reference each call with a suspicious watch list of knownfraudsters. The solution also implements NICE Interaction Analyticsto identify fraud patterns and social engineering attempts based onspeech analytics, emotion detection, talk patterns, andinteractions. A caller who shouts at the call center agent or triesto change the account address could raise a “red flag” andpotentially indicate a fraudulent behavior pattern, forexample.

Telephony and other contextual data, such as IVR events, callerlocation and ANI matching, also known as caller ID, are examined toidentify fraud. The NICE solution can then guide the agents inreal-time to appropriately handle high-risk interactions, andprovides an end-to-end fraud management solution that prioritizeshigh-risk interactions for investigation before transactions areauthorized.

The solution also incorporates the NICE Actimize Risk CaseManager. This is an investigation and workflow tool with whichagents can open an investigation ticket following identification ofa fraud attempt, including playback of suspicious interactions.

NICE says that by focusing on high-risk interactions, companiescan channel their resources more efficiently, thereby reducingtheir operating costs and cutting their fraud losses. Furthermore,companies can offer better service to legitimate customers bystreamlining operations for safe interactions without compromisingtheir early fraud detection and proactive contact withcustomers.

“The [call] center is a prime target for fraudsters andenterprises must be prepared to ensure that this area of theirbusiness is as well protected as online transactions,” says YochaiRozenblat, president of the NICE Enterprise Group. “By leveragingour contact center best practices with our fraud preventionpractice, we created an end-to-end solution that offers proactivefraud detection, real-time guidance, and integrated fraud casemanagement. We believe that [the] technology will help businessesboost their reputations, protect their customer base, andsignificantly reduce fraud losses.”

To learn more about NICE's Contact Center Fraud Preventionsolution, watch this videoclip.