As voice-enabled technology becomes common, it is almost sure to see fraudsters take advantage of it to develop new tactics
FREMONT, CA: The interesting innovation in voice-enabled smart technology is its potential use for ecommerce. IoT devices such as Alexa and Google Home will take on more roles in time as customers now expect a more personalized experience. As we add more of these devices to our lives, consumers will soon be able to shop while doing chores or stuck in traffic, with the help of voice-assisted technology. Although this will be a great opportunity for online merchants, it also comes with it some consequences.
Fraudsters will take any opportunity to cheat the system. They can use technologies to impersonate cardholders and engage in voice-enabled fraud. An example would be the use of deep fake technology to create convincing impersonation of celebrities and world leaders.
As this technology becomes common, it is almost sure to see fraudsters take advantage of it to develop new tactics. A threat would not necessarily be criminal in nature. For example, friendly fraud is a post-transaction threat by which a seemingly-legitimate buyer requests a chargeback without a valid reason. There are many potential friendly fraud causes, and it will likely to be some of the most common issues to arise in voice-enabled commerce:
Accidental Orders: A customer could claim the smart speaker picked up on a conversation and made a purchase without their consent.
Buyer’s Remorse: The ease of purchasing could be tempting for some people. A customer who regrets a purchase may file a chargeback to undo it.
Family Fraud: A relative of the cardholder might make a purchase with a voice-enabled device, and the cardholder files a chargeback in response.
Voice-enabled commerce will grow as a significant customer channel in the next decade. To ensure that one does not fall to any fraudulent acts, it is crucial to take steps to prepare for any untoward incidents. Prioritize optimizing pages for voice search. Customers already engage in voice-enabled search, so developing an SEO strategy to account for voice search is critical.
Build Trust: Be honest with customers about security and data protocols.
Seek Help: If any critical practices cannot be handled, it is best to seek outside expertise.
Develop Omni-channel Practices: Remove barriers between channels (within reason) where possible.
Know Your Customer: Developing a typical user profile can help you flag suspicious activity.