Will crossing my fingers prevent CNP fraud?

What's stopping card-not-present (CNP) fraud from breaking out in your contact center? Are you wearing a magical ring of invincibility, sporting those lucky socks or crossing your fingers? If you want real protection, then read on.

Criminals are desperate to steal and exploit the debit/credit card details that flow into your contact center environment. But few business leaders want to discuss CNP fraud. It's almost a case of 'it won't happen if we don't talk about it'. And this simply isn't sustainable.

CNP fraud isn't just lurking in the background ... it's a growing threat. In the United States, CNP fraud losses are expected to cost retailers and financial institutions $7.2 billion by the end of 2020[1].

You can't see it, hear it or feel it — but if CNP fraud breaks out in your contact center, you'll soon know about it. The trouble is, so will your customers, competitors and the regulators when the breach becomes public.

CNP fraud is different
Many security threats can be tackled head-on with a 'point' solution that bolts the door or patches the software. But CNP fraud is different. It's like a toxic fog that can seep under doors and through keyholes in your contact center environment, which makes it far harder to snuff out.

Wherever sensitive data exists, it will attract various CNP ghouls. It could be the rogue agent that writes down a customer's card details for personal use, a greedy employee who steals multiple records to sell online, or hackers that plunder your data. Even call recordings can be targeted.

Finding a way to stop all of these can feel impossible. But that's no reason to walk away from the issue and hope CNP fraud never happens.

Get answers to 3 fiendish questions
Eckoh has just published a valuable guide to help companies explore and tackle the wide-ranging threats and uncomfortable truths about CNP fraud.

It tackles the three tricky questions that contact centers are struggling to answer:

  • #1: How can I protect my contact channels and data from CNP fraud?
  • #2: Can I avoid compromising the customer experience
  • #3: Is it possible to do this quickly, easily and affordably?

For many organizations, the answers may be surprising — and a huge relief too. That's because it's possible to address each of these issues without major delays, costs and complexity. Solutions exist that can flex easily, stay ahead of the CNP threat and even secure new channels, such as Live Chat Payments and Apple Pay.

Today, companies such as Deaconess Hospital, Great Lakes Energy, Cooperative Response Center Inc and Children’s Healthcare of Atlanta are giving customers the confidence that their payments and card details are being handled in a secure manner.

Discover the answers for yourself, thanks to Eckoh's essential ebook. Get your free copy of 'PCI DSS compliance for Card-Not-Present payments'.

[1] 'Addressing the Rising Tide of CNP Fraud': Aite Group

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Posted by eckoh at 12:05 PM on Sep 18, 2017

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