cxfo morrispentel iassist london16 · customers viewpoint phone attacks will have much more...
TRANSCRIPT
![Page 1: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/1.jpg)
PhoneFraudBattlefieldMorrisPentel
![Page 2: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/2.jpg)
Telephonefraudisupby92%.Isthisarealthreatorjustsomemarketing hype
IsContactCentreaneasytarget?
IsContactCentreamorevaluabletarget?
HasFraudchanged?Whyisitimportant?
![Page 3: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/3.jpg)
ItwasrecentlyannouncedthatPhoneFraudisupby92%thisyear.ResearchbytheFinancialFraudActionUK(FFAUK)foundthatfivemillionfraudsoccureveryyearacrossEnglandandWales,costingtheUKaround£24bn.
Isitnowanarmsrace?
June2015- Overall,morethan86.2millioncallspermonthintheU.S.arephonescamsPindrop
![Page 4: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/4.jpg)
HasFraudchanged?
IndustrialisationofFraud- ItsnowreallyBigBusiness
FocusofindustrialscaleinvestmentbyFraudsterstoexploitopportunitiesforfastreturns
Increasedattacksonconsumers &contactcentrefocusedongaininginformationtocreatethefinancialcrime
KPMG’sUKFraudBarometersawamarkedincreaseinfraudsterstargetingindividualsandfamilies,particularlythoseinfinancialdistress,stealing£156m.
Thisreflectsa300%increaseon2014whenjust£38.5mwaslostbyvulnerablevictims.
![Page 5: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/5.jpg)
Whathaschangedarethesizeandscaleoftheoperations?
RiseinSocialEngineeringFraud
Attackersusingsocialengineeringhavefoundthephonechanneltobetheweakestlinkforcorporationsandconsumers.
Thistrendwillcontinuein2016asfraudschemesbecomemoreandmorecreative. Hackersimpersonatingcustomersupportpeople,IRSagents,andevensecurityspecialistsclaimingtohavedetectedfraudwillcontinuetobeasourceofstealingpersonalfinancialdata.
![Page 6: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/6.jpg)
Whathaschangedarethesizeandscaleoftheoperations?
Assecuritysystemshaveimprovedinotherareasofbanking,fraudstershaveoptedtotargetconsumersdirectlybyphoningthemup,orusingonlinevulnerabilities.
Scammershavepretendedtobebankstaff,policeandfromfirmssuchasTalkTalk,andpersuadedconsumerstosendmoneytotheirbankaccounts,aidedbythefasterpaymentssystemandpreviouslylaxaccountopeningrequirementsatbanks.
![Page 7: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/7.jpg)
Whathaschangedarethesizeandscaleoftheoperations?
![Page 8: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/8.jpg)
Whathaschangedarethesizeandscaleoftheoperations?
GangFraud
“Thesumsofmoneyinvolvedarestaggering- Eventhoughit’sasmallminority...thepotentialamountofmoneyinvolvedanddamagetopeople’sfinancialaccountsisgreatlyoutofproportiontoothergangcrimes.”
RonHuff,acriminologyprofessorattheUniversityofCalifornia,Irvine,whostudiesgangs.
![Page 9: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/9.jpg)
Overall$35,000aminute- USA
92%Increase
![Page 10: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/10.jpg)
Whathaschangedarethesizeandscaleoftheoperations?
“Weknowthatitisaworseningproblemasthisyearwehaveseenadramaticincreaseinthenumberofreportsaboutdodgycalls.
Ithinkthattheyhavefoundustobe vulnerableandnowit’slike,thereisagangofthemhangingaroundoutsidethevirtualbordersofouroperationandourstaffaredevelopingasiegementality.Itsdifficultbecausetheyarenotstealingfromusinthetraditionalsensebutitisstillmakinglifemoreandmoreuncomfortable.”
ContactCentreDirector- MajorUtility
![Page 11: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/11.jpg)
NewFocuses
AsconsumershavegoneOmni-ChannelsohasFraud
Theinboundtelephonechannelisnowbecomingafocalpointofattackforfraudsters
Increasedattacksonconsumers &contactcentrefocusedongaininginformationtocreatethefinancialcrime
Increaseinsecondaryattacks
IncreaseinvalueofdataforattacksonKBA (knowledge-basedauthentication) protectedfunds
![Page 12: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/12.jpg)
NewTricksandOldones
Increasingevidenceofsophisticationintechnology
Maskedphonecallsroutedthroughcomplextechnologyandinternationalservices
Maskedvoicesthroughclevertechnologyorcheapappsoroldfashionedacting
Availableintheappstore
![Page 13: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/13.jpg)
Fraudstersgetmorepracticethanagents– itstheirjob
Agentlistenscarefullybutitmaybeonlyoneinahundredorathousandcallsforthatoneagentwhilethefraudstermaylearnaweaknesstheycanexploitinatorrentofattackssotheycangetisinformation.
Fraudstershideinacrowd
BetterinformedFocusofattackonaSinglepointofweakness
CostofDefenceofwholefront
line
Strategicadvantage- BadGuys
MacroScaleadvantage
Theagentisanobvioustarget
![Page 14: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/14.jpg)
Strategicadvantage- BadGuysEverysuccessfulattackfuelsthe
appetiteformoreandfundsthenextattack
OrganisationsfailedtoactquicklyenoughaboutCyberCrimeandnowarefundingbothsidesofthewar
WillwemakethemistakeofnotinvestingquicklyenoughfuellingthepaceofgrowthofKBAIntrusion
KBAIntrusionhasalowerprioritythanactualfinancialattackandisnotasnoticeableandhaslessdirectimpactinthetransactionalsence
![Page 15: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/15.jpg)
ImprovementsinDetection
Innovationsinmanyconnectedfieldsarejoiningtogether
Phoneprintingtechnologytestsontheexistingphonecalls&datasometimes- 3or5timesthesizeoftheproblemtheythoughttheyhad
BehavioralscienceanalyticstechnologydetectingpatternsofFraudimproving
OthertechnologiessuchasBiometricsEMVetc.areallclosingloopholes
![Page 16: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/16.jpg)
Isitnowanarmsrace?
Improvementsindetectiononotherchannelsmaymakethemlessattractiveandincreasetheappetiteforphoneattacks
IfCCOwnersfailtoactquicklyitwillbeperceivedasaneasytargetcreatinganincentiveforphonefraud
LongTermImpactoffailuretoinvest
MoreBattleswithFraudstersrequiringMoreInvestmentoveralongtimescale– Everyonewillhavetoinvestbutwhoeverinvestsmorefirstleadsthearmsraceandalsoifthewhitehatsmovequicklytheymaystifletheincentivetoinvestbycriminals
![Page 17: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/17.jpg)
WhatistheCXRisk?
Theagentisanobvioustarget
Constantlybalancingbetweenbeinghelpfultodeliveragreatcustomerexperienceandfollowingprotocolandbestpracticeagentbehaviourcanbecomepredictable
Wasityouragentthatgavethelastpieceofinformationneededtocommitafraud?
HowaboutangryCustomers?
![Page 18: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/18.jpg)
Customersviewpoint
PhoneAttackswillhavemuchmoresignificantimpactsonCustomerExperiencethanCyberFraudbecauseithappenstotheCustomer
Italsoimpactshowyoutreatyourcustomeronthephone– theirphoneexperience
KBAcostsincreaseandmustbecomelesseffective
IncreasedFraudwouldmeanincreasedovertsecurity
![Page 19: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/19.jpg)
Consumersthatdon’ttrusttheirfinancialinstitutions(don’tusetheservicesofferedbythem)suffermoredamageiftheybecomefraudvictims.
Consumersthatdonottrusttheirfinancialinstitutionsarelesslikelytousetransactionmonitoring,emailalerts,creditfreezesandblackmarketmonitoring
-theirinformationbeingusedfor75percentlongerbyfraudsters
- incurringa185percentgreatermeanconsumerexpensethanthosevictimsthathavehightrustintheirfinancialinstitutionsSourceJavelin
Fraud=$35,000aminute- USA
![Page 20: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/20.jpg)
CustomersCustomersarealreadybetteratdoingbusinesswithyou,thanyouareatdoingbusinesswiththem!
Youarecompetingtobethesourceofinfo
MoresourcesofinformationMoreuptodateMorein-depthInformationaboutyourpropositionMoreinformationaboutyouthanyourfrontlineEffectiveLanguage
![Page 21: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/21.jpg)
Customersarealreadybetteratdoingbusinesswithyou,thanyouareatdoingbusinesswiththem!
Forthefirsttimeinhistory,consumersnowhavemuchbettertechnologythantheenterprisesthatservethem
Whereenterprisesarespendingbillions consumersarespendingtensoftrillions andthegapisgrowingThepaceofchangeiscreatingalargerandlargergapincapability
BYOD&BYOE(xperience)
Customers
![Page 22: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/22.jpg)
Customersarealreadybetteratdoingbusinesswithyou,thanyouareatdoingbusinesswiththem!
ChoiceofTechnology(endpointdevicesuchasphoneortablet)isnolongerabarriertoexperienceorfunctionality
ChoiceofSupplier– AmazonUKhas100mlproductsandfastestgrowingbanksandTelcos’aretheSupermarkets
Customers
![Page 23: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/23.jpg)
Customersarealreadybetteratdoingbusinesswithyou,thanyouareatdoingbusinesswiththem!
Howmanychannelsdoyouuseaswork?
AsDigitalCustomersweusemorethan6/7butorganisationswestrugglewith3
ThepaceofCustomeradoptionis18monthswhichislessthan half oforganisationaladoption
Customers
![Page 24: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/24.jpg)
Ifcustomersarealreadybetteratdoingbusinesswithyouwhatabout…
Fraudsters
![Page 25: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/25.jpg)
![Page 26: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/26.jpg)
Whathappensifwedon’tact?
Willwestarttoexperienceairportlikeinconvenienceforourprotection?
ThinkabouttheimpactonCustomerExperienceandtheimpactonyourdaytodayrelationshipwithyourcustomer
![Page 27: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/27.jpg)
Whatisthesolution?
• RelianceonKBAaloneisnolongeranoption
• AcontinuousprogrammeofactionacrossallchannelstocreateanOmni-Channelapproach
• Ablendedprocess&technologystrategyacrossallactivities–thinkingaboutFraudasaseriesofexperiencesratherthanasinglesmash&grabraid
![Page 28: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/28.jpg)
Andfinally
ThereisanincreaseinFraudoverallandadramaticincreaseinphoneFraud
OurCustomerRelationshipsareatriskofphoneFraudbecauseitisahumanexperience
Wearenotyettreatingintrusionswiththesameseriousnessasattemptedtheft
Wearegettingbetteratdetectingitbecauseofnewtechnologies
Weneedtocreateashieldofalltypesoftechnologiesacrossallourchannelsorweak pointswillbecomefocal points
![Page 29: CXFO MorrisPentel IAssist London16 · Customers viewpoint Phone Attacks will have much more significant impacts on Customer Experience than Cyber Fraud because it happens to the Customer](https://reader033.vdocuments.us/reader033/viewer/2022051915/60072df575c76358f211ed28/html5/thumbnails/29.jpg)
ThankYou
CustomerExperienceFoundation
Findmeon
@MorrisPentel
E-books(2)WhitePapers(20+)CustomerEventsFilms(5)Radio(2)Articles100+(6Languages)Workshops20+perAnnumConferences20+perAnnum