Compliance Management, Government Regulations

ABA wants to automatically call and text mobiles regarding breach and fraud alerts

With data breach and fraud alerts in mind, the American Bankers Association (ABA) filed a petition on Tuesday asking the Federal Communications Commission (FCC) to remove “outdated regulatory restrictions” that prevent sending automated calls and texts to mobile devices.

“Effective fraud prevention requires the earliest possible contact with the customer,” Frank Keating, president and CEO of ABA, wrote in a release, going on to add, “With about 40 percent of the nation's households now ‘wireless only,' the ability to send these automated notifications to mobile phones is critical.”

Nearly 60 percent of consumers prefer to be contacted on their cell phone if fraudulent activity is suspected, and more than one in three consumers prefer to receive a text message, Keating wrote, citing a 2010 Fraud Communications Survey conducted by Harris Interactive.

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