The NVB, the Dutch Banking Association, is advocating for changes to the Telecommunications Act, so that it becomes possible to check whether customers are on the phone when transfers are made. With this check, banks could cut off criminals.

 

It is a possibility that is already possible in the United Kingdom, but in the Netherlands the Telecommunications Act is an obstacle. The NVB points out that the combination of large transfers and telephone conversations applies to 75% of bank helpdesk fraud or spoofingThis leads to tens of millions of euros in damage and 10.000 victims every year.

Banks have already implemented provisions in their apps, such as check the conversation. This can be used to check whether the bank employee is actually from the bank. This intervention has reduced the number of cases of helpdesk fraud at ING by 43 percent.

Fraudsters use numbers that look like bank numbers for their outbound calls. In order to really monitor the numbers, banks want to see the current usage of numbers, so that they can see whether the account holder is on the phone and whether the call is coming from abroad. (NVB)

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