According to Actimize, a US firm that provides financial risk management software, the popularity of so-called man-in-the-phone scams is on the rise.
The technique involves fraudsters impersonating a bank representative during a call with a customer, warning them that the security on their account may have been breached.
Once the criminal asks the client to supply their account details, the call is transferred to a genuine bank representative, while the fraudster remains on the line to gather the personal information, which is then used to make withdrawals.
James Van Dyke, president and founder of Javelin Strategy & Research, warned that "fraudsters are getting creative and leveraging new techniques to commit fraud", noting that customers need to remain "diligent" in order to avoid becoming a victim.
Paul Johnson of Pannone recently warned that the recession has made firms more vulnerable to fraud attacks, as criminals are targeting companies by placing people in call centers in order to obtain personal information.