Voice Biometrics Can Help Stem the Rising Tide of U.S. Identity-Theft

Identity-theft is on the rise in the U.S., according to recent study by Javelin Strategy and Research (Wall Street Journal -- 2/10/2010). A record 11.1 million adults, up 12% from 2008, were victims. The total cost was $54 billion, up 12.5% from 2008. The article goes on to say that incidents of identity-theft show no signs of decreasing in the foreseeable future.

Voice biometrics can help stem the rising tide of U.S. identity-theft. For starters, financial institutions could deploy voice biometrics in their call centers. Fraudsters, who may have stolen the answers to challenge questions (e.g., mother’s maiden name, date of birth, etc.), would be thwarted when their sample voiceprint is compared to the identity-theft victim’s base voiceprint. Our phones should be ringing off the hook!