Banks using voice biometrics to counter social engineering

More companies are turning to voice biometrics for security purposes (Digital Trends)

Technology known as voice biometrics seems to be the next big thing in keeping your accounts safe and sound, especially with the alarming rise in call-in center fraud. In this latest version of trickery, criminals take advantage of human error and human emotions when they dial into a customer service line, describe some fictional situation that garners the representative’s sympathy, and subsequently gain access to sensitive data and, of course, money. $10 billion worth last year, in fact.

The purpose of identity management technology is to force fraudsters into social engineering. Identity management technologies can still help with that, too.