Identity theft and fraud continue to be on the rise and consumers are increasingly concerned about safety issues. One of the risks is through unsecured telephony transactions. One of the latest tricks used to steal identity is by using spoofed caller ID. Consumers recognize the caller id and assume that the call is legitimate when in fact it may be a fraud. Trust ID is a service that ensures authentication and restores trust in telephone transactions.
Trust ID secures telephony transactions by validating the caller ID. This is useful for remote banking applications. Using a service such as Trust ID reassures customers that their account information will be protected and secure. One of the main applications for Trust ID is for banking, however it is useful for many other telephony services as well.
Criminal activity isn’t limited to single identity thefts. Spoofed caller ID allows criminals to access complete databases that may compromise the integrity of your entire customer base. This can be damaging for banks and other companies where customers rely on the integrity of the institution when using their services. The results of compromised information may include monetary payments made to those whose identity information has been compromised and can irreparably damage the company’s reputation.
When Trust ID services are used both the company and the customers will be assured that their information will be protected and safe. This will allow customers to properly use telephony banking services as they were intended. You can reduce the risk to you and your clients when you use security software such as Trust ID.