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2015 Pindrop Security™. Confidential.
EMV TRANSITIONWHAT CREDIT CARD CALL CENTERS CAN EXPECT
Matt Garland, Vice President of ResearchPindrop SecurityAugust 20, 2015
2015 Pindrop Security™. Confidential.
NOTE
These slides are from a webinar held August 20,
2015.
You may view a recording of the webinar at
www.pindropsecurity.com/webcast-archive
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
KEY FACTS ABOUT EMV
Europay International,Mastercard, andVisa
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
KEY FACTS ABOUT EMV
Europay International,Mastercard, andVisa
A set of standards for interactions between chip cards and POS devices
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
KEY FACTS ABOUT EMV
Europay International,Mastercard, andVisa
A set of standards for interactions between chip cards and POS devices
A way to prevent Card-Present Fraud
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
KEY FACTS ABOUT EMV
Europay International,Mastercard, andVisa
A set of standards for interactions between chip cards and POS devices
A way to prevent Card-Present Fraud
World Usage: Europe, Canada, Australia, Latin America, Asia
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
THE EMV REALITY
Being a fraudster is a professionEMV won’t make them disappear
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
THE EMV REALITY
Being a fraudster is a professionEMV won’t make them disappear
Fraudsters look for the weakest linkEMV only protects against Card Present Fraud
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
CREDIT CARD FRAUD BY TYPE (2014)
37%
45%
14%
4%
Card-PresentCard-Not-PresentLost or StolenOther
Source: Aite Group, June 2014
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
CREDIT CARD FRAUD BY TYPE (2018)
23%
64%
10%3%
Card-PresentCard-Not-PresentLost or StolenOther
Source: Javelin Strategy & Research, 2015
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
CARD NOT PRESENT CHANNELS
OnlineHighly Defended
6-8 Layers of Security
FirewallIDsAuthenticationContent FilteringDB SecurityAccess Control
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
CARD NOT PRESENT CHANNELS
PhoneOnlineHighly Defended
6-8 Layers of Security
FirewallIDsAuthenticationContent FilteringDB SecurityAccess Control
Lightly Defended1-2 Layers of Security
KBAVoice Biometrics
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
FRAUD CALL RATES
Avg. Call Cen-ter
Banks Brokerages Credit Card Retail
1 in 22001 in 2650
1 in 3000
1 in 900
1 in 1000
2015 Pindrop Security™. Confidential.
RECONNAISSANCE
• Account holders• Available credit• Recent transactions• Number of cards• Rewards points
2015 Pindrop Security™. Confidential.
ACCOUNT TAKEOVER
• Impersonating cardholders• Contact information• Password changes• Online account setup• Card replacement request• Additional cards and users
2015 Pindrop Security™. Confidential.
REDUCE FRAUD TRIGGERS
• Travel notifications• Pre-authorized
transactions• Verification intercept
2015 Pindrop Security™. Confidential.
MONETIZING STOLEN ACCOUNTS
• Card Not Present (CNP)
• Balance transfer• Mobile payment
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
BEST PRACTICES
Track Phone Fraud
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
BEST PRACTICES
Detect Phone FraudTrack Phone Fraud
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
LOSS• Packet loss • Robotization • Dropped frames
SPECTRUM• Quantization • Frequency filters• Codec artifacts
NOISE• Clarity• Correlation • Signal-to-noise ratio
147 audio features
UniquePhone
Geo-Location Risk Factors
PHONEPRINTING™
Phoneprint™
Call AudioRequires 15 seconds
of call audio
Risk Score
Call Type
2015 Pindrop Security™. Confidential.2015 Pindrop Security™. Confidential.
CONCLUSION
• EMV will drive fraudsters to CNP fraud, especially the phone channel
• Fraudsters use the phone channel for:• Reconnaissance• Account Takeover• Reducing Fraud Triggers• Monetizing Stolen Accounts
• Best Practices• Monitor and track fraud back to phone channel• Use PhoneprintingTM to detect phone fraud
2015 Pindrop Security™. Confidential.
PINDROP SECURITYPhone Fraud Stops Here.
For more information contact [email protected]