Many of today’s banks may not immediately associate the call center with billions of dollars in online and mobile fraud losses. However, banks and card issuers might be surprised to learn that a non-trivial percentage of that fraud may actually involve the call center.
Here’s a scenario: A fraudster wants to load Apple Pay™ onto an iPhone®using a stolen credit card account—one of millions leaked by data breaches. He or she contacts the bank’s call center....