Phishers love to target the financial institutions, which means it is one of the primary areas that consumers are extremely cautious about. Bankers are also very cautious and weary about this because it puts their reputation at risk. So what can be done to help prevent telephone banking fraud. Enter RSA.

“RSA Security has introduced a product that adds voice as a way for automated telephone banking services to identify users.

The EMC subsidiary said Tuesday that the addition of voice biometrics to its Adaptive Authentication package marks an industry first. The product combines Vocent technology, acquired through its takeover of PassMark, with a voiceprint engine from speech recognition specialist Nuance Communications, RSA said in a statement.

The product is designed to help fight telephone banking fraud, the company said. “As we are strengthening security for the Web channel, phone banking is effectively becoming the next big target,” Christopher Young, an RSA vice president, said in the statement.

The product generates a risk score by looking at the voiceprint as well as other parameters, such as the phone number and user behavior profiles, RSA said. Low-risk transactions proceed uninterrupted, while transactions with a high-risk score are verified with an additional layer of security, such as secret questions, it said.

Current phone authentication techniques lack security, as they are typically conducted semi-manually, and are susceptible to social engineering attacks, RSA said. Crooks are learning to take advantage of that, it added.”

Read more about this technology HERE.

This is a great step in helping prevent the phishers of the world from having successful antics. We wonder what they have up their sleave when it comes to the third-party banking systems and email?

Tags: Good on the Net