Social Engineering Scam Detection
Don’t Let Criminals Call The Shots
BioCatch analyzes user behavior in real-time to detect when an individual is conducting a transaction under the influence of a cybercriminal, helping banks to protect customers from social engineering scams and authorized push payment fraud.
Social Engineering Fraud In Numbers
Total losses attributed to authorized push payment fraud in 2020 in the UK
Percent increase in social engineering scams in 2021
Percent of fraud complaints involving contacts by telephone, of which social engineering is a subset
Percent of social engineering scams that originate in the mobile channel
Social engineering scams using the phone, also known as voice scams or APP fraud, are one of the most complicated attack types to detect and are a prevalent form of account takeover fraud.
Voice scams are very simple to execute, but difficult to detect. The user is on their own device, present in a recognized location, and able to pass all forms of multi factor authentication if needed. So how can you detect a voice scam in progress?
Anatomy of a Social Engineering Voice Scam
Spot The Impostor: Tackling The Rise In Social Engineering Scams
Social engineering scams are on the rise worldwide. According to the U.S. Federal Trade Commission, impostor scams were the number one type of fraud reported by consumers last year. Despite advancements in authentication and fraud prevention technology, most legacy controls are still failing to detect these scams. Explore what is behind the recent outbreak of social engineering scams around the globe, how government and industry are responding, and how behavioral biometrics can help protect consumers from falling victim to these attacks.