Lloyds to create audio footprint to identify fraudsters

Posted by Jasmin Stopford in Identity Theft on 14 October 2016 - Jasmin is a Credit Analyst at checkmyfile

As the fraud epidemic continues to soar, Lloyds Banking Group will invest in new technology to highlight potential telephone scammers.

An ‘audio fingerprint’ analyses 147 unique call features within 30 seconds to establish location, background noise, number history and call type. If anything appears out of the ordinary, the ‘fingerprint’ is flagged for the bank to catch fraudsters out.

Martin Dodd of Lloyds says, “Protecting our customers, their money and their information is our priority and investing in ground-breaking technology is just one of the many ways we are able to remain a step ahead of potential fraudsters. Our partnership with Pindrop will enable us to further strengthen our multi-layered defences and allow us to continue to lead the industry in this important area.”

Lloyds has teamed up with fraud experts Pindrop, and its phone printing technology, as their system has prevented millions of dollars of fraud in the USA.

Lloyds says that there is no need for customers to provide additional information but additional measures, such as the ‘audio fingerprint’, need to be put in place after Britain lost an astounding £755m to financial fraud during 2015.

Currently, fraudsters attempt to disguise their calls using multiple methods such as ID spoofing, voice distortion and internet-based lines. Pindrop are convinced that their system will be able to weed out the fraudsters by using their basic analysis, in a bid to battle against any counterfeit activity.

Mike Haley of fraud prevention service CIFAS explains, “It’s important for consumers to remain vigilant and proactive in protecting themselves against fraudulent activity. While many people opt to use online banking methods, there is still a requirement for a telephone conversation and this channel cannot be left to become the weakest link.”

Check Your Multi-Agency Credit Report

30 Day Free Trial

Identity Fraud: What To Do If It Happens To You

Year on year, there has been a substantial rise in the number of identity fraud cases being reported to organisations such as Cifas, the UK’s fraud prevention service. It’s no real surprise when you consider the crime can be committed from the comfort of someone’s home without ever having to risk showing their face.

Published on 6 Feb 2018 by George Coburn

Full Article

What's a Politically Exposed Person (PEP) & Why is it on my Report?

PEP stands for Politically Exposed Person, which would typically relate to an individual who has a prominent public title or function. If you receive this classification, often you will have to undergo additional security checks when applying for finance. Your credit file will tell you if you have been identified as a PEP, however for most people it isn’t something they’ll need to worry about.

Published on 8 Jan 2018 by Paul Anderson-Riley

Full Article

Brits continuing to fall for HMRC and Apple gift card scam

At the face of it, it seems a bit odd that the company responsible for collecting taxes would request payment from individuals in the form of an Apple iTunes gift card, but according to Action Fraud, this scam has continued to be profitable for fraudsters. The scheme first came to light in May last year and Action Fraud have received hundreds of complaints since then.

Published on 30 Jan 2017 by George Coburn

Full Article

Yahoo’ve been hacked – Yahoo in largest ever reported data breach

In the last two years, we have already been alerted to data breaches at Three Mobile, Tesco Bank, TalkTalk, Morrison’s, Steam and Sage, amongst others. The scale of these hacker attacks have varied. But none have come close to the newest report.

Published on 16 Dec 2016 by Ben Tumilty

Full Article

Lloyds bank letter scam

Millions of consumers have been warned to be vigilant and question written correspondence from their banks following a sophisticated scam which has targeted customers of Lloyds Bank.

Published on 12 Dec 2016 by Kirstie Brown

Full Article

Digital footprints - taking a step in the right direction

Credit reports and the internet are now not too far away from each other in evaluative skill, as there is a lot that can be learnt about an individual from their online presence.

Published on 1 Dec 2016 by Paul Anderson Riley

Full Article

Another giant data breach

Only last year a communications giant had a serious data breach, which left customer’s details in the hands of fraudsters. But following in Talk Talk’s footsteps, the mobile giant Three have revealed that over 400 phone handsets had been stolen thanks to a security breach where fraudsters were able to login to Three’s systems.

Published on 22 Nov 2016 by Ben Ryland

Full Article

The Taxing Scammers

Some people question paying taxes in the first place, so it’s no surprise that around 50,000 people a day are being targeted as a part of a tax refund scam in the UK. Personal details have been shared with scam artists pretending to be government officials claiming that a refund could be due.

Published on 1 Nov 2016 by Paul Anderson Riley

Full Article

British banks still failing to protect customers from ID theft

Consumer group Which? has today criticised some of the biggest banks in Britain for failing to invest in security systems that would better protect their customers from fraudulent activity. This criticism comes as a result of a 64% increase in online banking fraud last year alone, with losses of £133.5m. Fraud for phone banking rose 28%, with losses of £323.3m.

Published on 27 Oct 2016 by Kirstie Brown

Full Article

How Protective Registration Can Help You

One harsh truth about fraud is that if you have fallen victim of one of the many fraud rings operating in the UK, it is quite likely that you’ll be targeted again.

Published on 20 Oct 2016 by George Coburn

Full Article
keyboard_arrow_left

keyboard_arrow_right

We have loads of great customer reviews