SOURCE: TeleSign

TeleSign

November 14, 2012 06:00 ET

TeleSign Helps Online Businesses Block Fraudsters This Holiday Season

TeleSign Guide Prepares Online Businesses for Black Friday Sales

LOS ANGELES, CA--(Marketwire - Nov 14, 2012) - TeleSign, the market leader in Internet fraud prevention and Intelligent Authentication, delivers a best practices guide with tips for businesses and users to block fraudsters this holiday season. Online retailers expect even higher spikes in sales during Black Friday and Cyber Monday, and experts believe there will be fraud losses of $3.4 billion by the end of the year. As the leader in online fraud detection, TeleSign is arming online businesses with the tools and knowledge needed to block the fraudsters and protect holiday shoppers.

In the 'Tis the Season for Call Center Fraud Guide TeleSign advises a three-pronged defense strategy:

1. Educate your Call Center Representatives
Call center agents, especially those that authenticate riskier transactions (e.g., password resets) have to be trained to identify and stop social engineering techniques.

2. Establish a Trust Anchor
By requiring your users to provide a verifiable phone number at the time of account registration, call centers can later authenticate users for any risky transactions or account changes using the phone number on record.

3. Leverage Technology
Call center representatives can now identify the high-risk phone types (e.g., certain VoIP phone numbers) associated with the inbound calls, enabling them to flag or block questionable transactions. Although call centers still rely on challenge questions, they need to augment this method with two-factor authentication for high-risk transactions. Emerging technologies like caller ID spoofing detection are also showing promise in limiting call center fraud.

Along with these tips to protect businesses, TeleSign is advising end users about some common scams to look out for this year.

Learn about popular scams circulating the web this holiday season.

Download 'Tis the Season for Holiday Fraud.

About TeleSign
Every second, of every day, TeleSign protects the world's largest Internet and Cloud properties against fraud. TeleSign Intelligent Authentication provides an easy-to-implement and powerful method for identifying and substantially reducing online fraud and spam using the most widely deployed technology -- a user's phone. The company protects 2.5 billion downstream users in more than 200 countries, offering localization services in 87 languages. In 2011, TeleSign ranked #15 on the Deloitte Technology Fast 500™.

Contact Information

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    Caitlin Huey
    TeleSign
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    +1 310 740 9675