{"id":220438,"date":"2022-12-30T20:16:18","date_gmt":"2022-12-30T14:46:18","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=220438"},"modified":"2022-12-30T20:16:18","modified_gmt":"2022-12-30T14:46:18","slug":"leveraging-voice-technology-to-combat-cyber-fraud","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/leveraging-voice-technology-to-combat-cyber-fraud\/","title":{"rendered":"Leveraging voice technology to combat cyber-fraud"},"content":{"rendered":"\n

Source<\/strong>– The post is based on the article \u201cLeveraging voice technology to combat cyber-fraud\u201d <\/strong>published in The Hindu <\/strong>on 30th December 2022<\/strong>.<\/p>\n

Syllabus: <\/strong>GS3- Basics of cyber security<\/p>\n

Relevance<\/strong>– Use of biometrics for security<\/p>\n

News<\/strong>– The article explains the use of Voice Technology for improving cybersecurity<\/p>\n

What is the status of bank and cyber frauds in India?<\/strong><\/h5>\n

Bank and cyber frauds in India are on the rise. According to data by the RBI<\/strong>, frauds have cost the country an estimated \u20b9100 crore a day over the last 7 years.<\/p>\n

The frauds reported in 2021-22 were 23.69% higher than in the previous year, although there was a decline in the amount involved.<\/p>\n

What is Voice Technology?<\/strong><\/h5>\n

It encompasses voice biometrics or voice\/speech recognition technology<\/strong>. It is one of the best ways to improve cybersecurity through the use of voice biometrics<\/strong>.<\/p>\n

It uses the unique characteristics of a person\u2019s voice as identification<\/strong>. The technology creates a digital voiceprint<\/strong> and compares it to a caller\u2019s voice.<\/p>\n

Why is it beneficial as compared to other biometrics?<\/strong><\/h5>\n

Voice authentication can significantly improve security over knowledge-based authentication methods<\/strong>. Compared to other biometrics, voice use is the cheapest technology<\/strong>. It does not require a reader or special device. It is also non-invasive, portable<\/strong> and affords remote identification<\/strong>.<\/p>\n

Banks have traditionally relied on the use of passwords<\/strong>. But, these are the weakest links<\/strong> in security. Unlike a password, a customer\u2019s voice is impossible to copy. It is far more challenging to hack.<\/p>\n

VT verifies a caller in a very short time by analysing the caller\u2019s voice and flags suspicious calls.<\/p>\n

VT allows privacy<\/strong> because it does not require users to reveal personal information.<\/p>\n

The technology is sensitive enough to detect if someone is impersonating<\/strong> the user or playing a recording. It can identify even if the user has a cold or a sore throat.<\/p>\n

What are the potential uses of Voice Technology?<\/strong><\/h5>\n

The voice biometrics industry is growing exponentially now. Experts expect the market to reach a market size of $3.9 billion by 2026, with a compound annual growth rate of 22.8%.<\/p>\n

Voice biometrics can help financial institutions<\/strong> to ensure higher levels of protection for customers and employees. In February 2019, HSBC<\/strong> became the first bank to introduce voice recognition for mobile banking customers. As a result, telephone banking fraud cases fell by over 50%.<\/p>\n

Voice Technology is an essential tool for forensics and law enforcement<\/strong>. The police can leverage voice to improve investigation efficiency, identify criminals, track criminals, and better respond to crimes<\/strong>.<\/p>\n

Voice is finding use in airport security<\/strong> to check criminal\u00a0 background. Voice has a much lower error rate, and requires no eye contact.<\/p>\n

VT has the advantage of improving user experience, reducing call handle times and call centre costs. It ensures high-accuracy authentication<\/strong> in seconds.<\/p>\n

Voice could be an excellent tool for the Government to disburse money for various schemes and verify the proof of life of pensioners from their homes.<\/p>\n

What are downsides of this technology?<\/strong><\/h5>\n

The technology may not be 100% foolproof<\/strong>. It may give false positives, and has an accuracy between 90% and 99%.<\/p>\n

But some recent systems which come with voice analytics of gender and age identification, claim 100% verification accuracy.<\/p>\n

What needs to be done by the government?<\/strong><\/h5>\n

The Government needs to develop a mechanism for proper coordination<\/strong> between financial institutions and the police to investigate and prosecute fraudsters.<\/p>\n

It needs to maintain an extensive database<\/strong> of such criminals.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source– The post is based on the article \u201cLeveraging voice technology to combat cyber-fraud\u201d published in The Hindu on 30th December 2022. Syllabus: GS3- Basics of cyber security Relevance– Use of biometrics for security News– The article explains the use of Voice Technology for improving cybersecurity What is the status of bank and cyber frauds… Continue reading Leveraging voice technology to combat cyber-fraud<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[9],"tags":[216,10498],"class_list":["post-220438","post","type-post","status-publish","format-standard","hentry","category-public","tag-gs-paper-3","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1700052666},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/220438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=220438"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/220438\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=220438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=220438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=220438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}