Voice recognition specialist, Pindrop released their Intelligence and Security Report which foregrounds the higher likelihood that some U.S. customers will experience fraud by imposing tighter restrictions on voice biometric technologies.

Painful fraud experiences are a persistent concern for us all, even with the rate of digitalisation enhancing security, as more self-service options available in online retail and financial services are turning to the attention of hackers.

The evidence compiled by Pindrop points to fraud loses rapidly mounting as criminals leverage the dark web to breach data and use pre-pandemic social engineering methods like phishing to exploit callers.

Over time fraudsters only become more accustomed to regulations and finding technical flaws with technologies or outperforming poor data management and week protections.

The report anticipates a recession would would cause widespread economic disruption and create the right conditions for higher occurrences of identity theft and fraud.

Between 2021 and 2022, reported data breaches dominated the tactics used by hackers, with over 1,800 incidents per year.

PinDrop’s recommended approach is to use voice mismatch biometric information in conjunction with authentication policies and voice clusters to detect mobile scams.