Annual total fraud costs U.S. businesses $62 billion – due in part to phone hacking and caller ID spoofing. Spoofed Caller ID and ANI undermine the reliability of multi-factor identity authentication, threatening the telephone channel as a secure place to conduct business, compromising downstream decision making and introducing new risks in applications like credit card activation. This white paper exams the deteriorating validity of Caller ID in the financial services industry. It covers the use of calling party numbers for location and identity authentication.”]
Source: https://www.bankinfosecurity.com/whitepapers/three-types-lies-lies-damned-lies-caller-id-w-530