Fraudsters buy phone numbers similar to legitimate businesses and pose as customer service line when customers misdial. Some 103 of the 600 financial institutions examined by Pindrop Security were affected by the “misdial trap” Some fraudsters offer customers a free gift card in exchange for sensitive data. Phone fraud costs banks and financial institutions nearly $2 billion every year, company says. The scam is just the most recent example of how sophisticated fraud rings exploit vulnerabilities in the phone channel, CEO says.”]
Source: https://www.darkreading.com/attacks-breaches/-misdial-trap-phone-scam-hits-financial-services