The high cost of high-end fraud.
High‑end smartphones and mobile
devices such as tablets have become
a popular target for organized fraud
groups in recent years—and it’s easy
to see why. They’re pricey, sought after, and can be easy to get if the
company doesn’t have the right level
Telesales is a key channel for
it’s also a prime target for fraud.
With only number verification in
place previously, the teams needed
a new method to defend against the
organized fraud groups, which could
cost them an average of $2,000 per
fraudulent transaction. Combine that
with further fraud attempts through
warranty and support channels, and
this figure can rapidly snowball and
affect the provider’s partners and
This type of fraud can also cause
major reputational damage, both
among partner companies and
customers. And, in an environment
where it’s easier to change provider
than ever, brand reputation is a key
differentiator, and that means working
hard to protect it.
However, combatting this type of
fraud isn’t always a simple process.
The telecommunications provider was
looking for a way to fight fraud without
making the customer experience more
difficult for its legitimate callers. As a
long-term Nuance client in other areas
of its business, such as employee and
customer verification, the provider
chose Security Suite for its ability to
balance the dueling dynamics of fraud
prevention and friction.