Telcos turn to biometrics for fraud protection

Monday 19 January 2015 10:01 CET | News

Estimated global fraud loss in the industry for 2013 amounted to USD 46.3 billion, a 15% rise from 2011, a recent report unveils.

According to a survey of telecommunications fraud and security experts, the primary reason for the increase was fraudulent activity targeting the wireless industry, through new ways of stealing identities, devices and network access.

Applying advanced analytics, information and security experts are devising new identity verification and big data tools to deter fraud. These tools prevent fraud before it happens, using a range of data elements during an account applicant’s or purchaser’s identity verification process.

One used technique is biometric voice recognition, which uses mathematics and digital signal processing to measure and detect physiological aspects of a vocal tract (lips and glottis) as well as behavioral aspects of speech (pitch and cadence). Another is biometrics facial recognition that is digitally compared to a file photo. And more sophisticated users are combining two or more biometrics techniques, which further decreases the likelihood of false positive results that can quickly kill goodwill with a legitimate customer.

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Keywords: online security, web fraud, facial recognition, biometrics, identity verification, voice recognition
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime