How to Prevent Call Spoofing Fraud, Blog

Knowing the Risk

The onslaught of spam calls and artificial intelligence (AI) voice cloning scams has put a sizable dent in consumer trust. Businesses trying to reach customers over the phone for legitimate reasons face increasing distrust from recipients, leading to fewer calls being answered.

One reason for that distrust in the voice channel: Call spoofing fraud, a multi-sided threat that can be as simple as a fake voice call from your bank or as advanced as an AI-powered voice clone of a loved one with distressing news. Call spoofing poses a significant threat to enterprises and consumers alike, and to protect against this fraud, we must understand how it works.

What is Call Spoofing Fraud?

At its core, fraud is any deceptive practice intended to gain an unfair advantage or secure a benefit unlawfully. Call spoofing involves manipulating the caller ID to display a falsified number. This tactic is commonly deployed by robocall bad actors who impersonate a legitimate organization or authority.

By "spoofing" the phone number of a trusted brand in the caller ID display, victims may be more likely to answer and divulge personal information when asked. The harm these scams cause is widespread: for businesses, it can erode customer trust, tarnish brand reputation and lead to significant financial losses. For victims, it can cause emotional stress and financial loss - in some cases, their life savings.

How Does Phone Fraud Work?

Impersonation scams are effective because they invoke feelings of fear, urgency and authority. Some play on emotions, while others involve invented threats from law enforcement. These scams commonly take the form of:

• Bank Account Scams:Scammers will pose as bank representatives to extract private financial data such as credit card or bank account information.
• Government Scams:For instance,a recent scaminvolved a finance columnist losing $50,000 to fraudsters posing first as Amazon customer service and then as FBI agents claiming to be calling from a government number.
• AI Voice Cloning Scams:A Philadelphia attorneyrecently testifiedbefore a Senate panel about a scam that used AI to clone his son's voice, demanding money for bail in a fabricated legal emergency.

Tackling Fraud with TNS Enterprise Authentication and Spoof Protection

Scammers are always looking for new ways to use technology to defraud their targets - so it takes innovative and robust solutions to counteract their efforts. TNS Enterprise Authentication and Spoof Protection fights back against scammers, helping to protect businesses and consumers from impersonations by validating authenticated calls and providing real-time reporting on spoofing activities.

This solution helps enterprises to reduce fraud claims and complaints related to spoofed calls. By authenticating only genuine calls from a business, TNS Enterprise Authentication ensures only verified, legitimate calls are allowed to reach your customer, while Spoof Protection immediately blocks non-authenticated calls from using your telephone number.

To mitigate the impact fraud can have, TNS Enterprise Authentication and Spoof Protection helps to:

• Protect your brand reputation: Helps businesses reduce customer complaints and fraud claims related to spoofed calls.
• Increase trust in calls:Prospects who have greater confidence in the caller are more likely to be converted to a customer.
• Optimize call duration: Get to the reason for the call quicker by reducing time spent on verification.

As call spoofing fraud continues to evolve, staying informed and utilizing cutting-edge solutions like TNS Enterprise Authentication and Spoof Protection is necessary for businesses aiming to protect their customers and reputation.

Learn how TNS Enterprise Authentication and Spoof Protection can protect your business from fraud and restore trust to the voice channel: tnsi.com/enterprise-authentication-spoof-protection

Jim Tyrrell is Vice President of Global Product Strategy at TNS with specific responsibility for TNS' Communications Market solutions.

Public link

Please use the above public link if you want to share this noodl on another website.