Quick Q&A on
Fraud prevention: Reducing mobile phone takeover risk
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A strong authentication process is key to mitigating mobile phone fraud and distinguishing legitimate customers from fraudsters. Don Smith, product manager of global fraud solutions at Neustar, a TransUnion company, spoke with BAI about strategies to strengthen customer authentication.
In this one-page Q&A, Don shares insightful answers to these questions:
- What is the basic case for banks and credit unions hardening their defenses against phone takeover?
- What are some of the inherent risks to multifactor authentication (MFA)?
- With authentication increasingly being done through mobile apps, how is that impacting fraudsters?
- Are regulators addressing this risk?
- How can organizations apply these same concepts in a call center?
