How pre-answered caller authentication helps prevent telephone bank fraud
FEBRUARY 19, 2013
Based on the level of information the customer is requesting, the bank representative may ask a number of challenge questions. At this point, they’ve already taken up a minute or more of the customer’s valuable time using knowledge-based authentication (KBA) methods that, quite frankly, can no longer assure that the person on the other end of the line is who they say they are. Prevention vs. clean up. It’s a security question all financial institutions should ask themselves.