Most telephone scammers rely on talk, getting you to pick up the phone so they can give their impersonations of IRS agents, noble fundraisers, tech-support saviors or grandkids in need. But with a new breed of telephone fraudsters, sometimes you don’t even need to say “Hello” to get ripped off. Here’s how some of these crooks may target you.
Call Center Fraud
There are scam artists who spend hours calling the customer service centers of banks, insurance companies and other institutions, posing as people like you, to try to access accounts. These crimes have more than doubled in the past year. “That’s because reps only ask a couple of simple authentication questions — maybe your mother’s maiden name or your Social Security number — before you can transfer money or do whatever,” explains Ken Shuman of Pindrop, a company that provides antifraud services to call centers.
Scammers start by assembling information on you, stolen in data breaches, purchased on the “dark web” or gleaned with a simple Google search. Then, working from boiler rooms (often overseas), they spend all day phoning different call centers to determine if you have accounts with those companies. With your data in hand, they can often answer the authentication questions that call centers ask.
ATM PINs are especially prized — and vulnerable, adds Shuman. He notes that there are only 10,000 possible combinations for a four-digit PIN. Unless a bank’s system blocks calls after several tries — and some don’t — there are scammers who call back 150 times a day, trying different PINs until they get it right. Then they immediately log in as you, change your PIN and take over your account.