Impersonization Scams Hero
Impersonation scams

An Impersonation Scam refers to when an individual makes contact with a victim and pretends to be someone else, typically a trusted individual or reputable organization, in order to deceive and defraud the unsuspecting victim.

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Problem overview

In impersonation scams, fraudsters often adopt the disguise of a well-known organization, such as the police, a customer's bank, their utility provider, or a government department. By impersonating these trusted entities, scammers aim to manipulate and deceive individuals into transferring money to an account under their control. They exploit the familiarity and authority associated with these organizations to gain the victim's trust and coerce them into taking immediate action.

These scams exploit the sense of urgency, fear, or confusion in the victims. Scammers often employ tactics, such as creating a false sense of impending danger or emphasizing the consequences of non-compliance, to pressure individuals into transferring funds. They may use official-sounding language, forged documents, or identification, and may even manipulate caller IDs or email addresses to appear legitimate.

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A Differentiated Approach to Tackling Impersonation Scams

Due to the fact that the actual account owner is the one initiating the transfer to the account controlled by the fraudster, conventional fraud detection systems face significant challenges in identifying any suspicious activity. This difficulty arises because the usual checks for devices and networks show no signs of abnormality. As a result, it has become imperative to prioritize behavioral insights rather than considering them as an optional measure because anything less fails to address the modern-day types of threats.

BioCatch's Social Engineering Voice Scam Detection solution centers on the analysis of user behavior. During an online banking session, this solution proactively evaluates different elements such as detecting ongoing calls, identifying atypical mouse movements or hesitation, monitoring suspicious mobile device actions, and observing the input of the destination account number. Utilize behavioral biometric intelligence now to counter your spoofing or impersonation scam challenges and kick-start your mitigation strategy for the liability shifts suggested in the Payment System Regulator and PSD3 proposals.

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Additional scams 
use cases

Remote access attacks

Legacy fraud prevention controls have limited or no ability to detect remote access attacks. When a remote access tool is present on a user’s device, the bank’s systems detect a genuine device fingerprint, with no traces of proxy, code injections, or malware, and with the proper IP and geo-location. 

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Peer-to-Peer fraud

A Peer-to-Peer (P2P) scam is typically when a fraudster poses as a legitimate business and requests payment from the victim for a product or service that never materializes. 

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