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A Single Fraudulent Call Cost a Major Retailer $400,000

A Single Fraudulent Call Cost a Major Retailer $400,000

Consumers get frustrated when their call is answered with an automated message explaining that they’re twelfth in line for the next agent, or that their estimated wait time is 20 minutes. To avoid this frustration—and the potential for lost sales—many retailers, government agencies and other organizations now provide people with the option of leaving a callback number instead of staying on hold.

But that same customer-friendly option also opens the door to fraudsters, who can leave International Premium Rate Numbers (IPRNs) which for callbacks look like standard telephone numbers but result in steep charges when customer service agents use them to call back customers. In fact, retailers and other businesses on average lose $1.82 billion annually to callback fraud, according to the Communications Fraud Control Association.

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