Chase, Wells Fargo, and other Banks Create Voiceprints from Calls to Prevent Fraud
Starting soon, you may hear the following message when you call your credit card company: “This call may be monitored, recorded and processed for quality assurance and fraud prevention purposes.” The statement is slightly different than the usual, “This call will be monitored or recorded…” According to a CNBC article published a few hours ago (link), credit card companies (especially Chase and Wells Fargo) are investing in “voice biometric technology to screen calls for signs of fraud.”
The banks can compare the voice on the phone to previously recorded and analyzed phone calls to determine if it is actually you on the phone, rather than an identity thief impersonating you. The system is even able to recognize voices and determine if they are blacklisted for previous attempts at fraud. Continue reading