Tuesday, April 12, 2005

BPO Scam

Employees from the BPO company Mphasis, fradulently withdrew $350,000 from the bank accounts of 4 Citibank customers.

According to a Forrester report,
"The incident will undermine call centre expansion by as much as 30 per cent as security concerns, regulatory pressure, and end customer backlash lengthen sales cycles, impede the ramping up of larger projects, or drive firms to take the captive route".
In essence, the report is indicating that the BPO growth might get hit by upto 30%!...<Read More>.


Blogger Nth Dimension said...

I wonder if the US businesses will be able to avoid a knee-jerk reaction to this incident.

While security is an issue, I am sure basic system-safeguards put in place can avoid the repetition of such unfortunate incidents. Plus, I wonder, in face of all the "phishing" scams going around and major banks coming out with press releases assuring customers that they would never ask for their passwords via email or phone, what prompted those four customers to give out their PINs or passcodes in the first place.

Shouldn't they've known better?

Tuesday, April 12, 2005 4:40:00 PM  
Blogger Me said...

what do they mean by "Call centre growth may drop by 30%"

** US cannot support the call centers due to high labor costs.

** even if call centers move to another country the customer still has the same lack of security

so what will happen ??

Tuesday, April 12, 2005 6:09:00 PM  
Blogger Narayanan Venkitu said...

I was expecing this might happen sometime. And here it is.!

There was a program in NPR a few weeks back, when they were talking about the data security issues relating to call centers in India , handling some sensitive data.

Unless these issues are dealt with a firm hand..It will result in trouble for the Call center business.

Tuesday, April 12, 2005 6:57:00 PM  
Blogger Harish said...

You guys should tune to Lou Dobbs on CNN. Heck, he rips India apart in that show.
I can see a "swadeshi" tint in his language.

Wednesday, April 13, 2005 11:54:00 AM  
Blogger Narayanan Venkitu said...

Lou Dobbs I think just hates India.!

Wednesday, April 13, 2005 8:51:00 PM  
Blogger Me said...

En Inniya Puthandu Nall Vazhtukal

Thursday, April 14, 2005 12:04:00 AM  
Blogger Chakra Sampath said...

ada paavingala... i am a citibank account holder.. idhunaala daan naan $350k ellam anga deposit panradhilla... not more than 100 quid.. :)

Thursday, April 14, 2005 3:33:00 AM  
Anonymous Anonymous said...

Happy new year,may all u r wishes come true,god bless

Thursday, April 14, 2005 6:34:00 AM  
Blogger Akruti said...

bhaaaaaaaaa,that was not anon,that was me:)) don't know how i missed putting my name.sorry:)

Thursday, April 14, 2005 11:54:00 AM  
Blogger JaganLee said...

Iniya puthandu nalvazthukal.

Thursday, April 14, 2005 11:59:00 AM  
Blogger Me said...

anand newyearku enga ponenga??

Friday, April 15, 2005 12:53:00 AM  
Blogger None said...


evil gemini twin! iniya puthandu vazhthukkal! enna romba naalachu?


Friday, April 15, 2005 2:15:00 AM  
Blogger Krish said...

Hi Anand,

Silent for a long time? :))

Puthandu nalvazhthukkal...

Friday, April 15, 2005 2:22:00 PM  
Blogger satosphere said...

It had to happen someday - before the entire system collapsed in an unwieldy manner.

Something about this burgeoning boom that I see in BPO, reminds me of the big bubble that existed in the halcyon days of the 90's before they Halo'ed away.

Friday, April 15, 2005 9:28:00 PM  
Blogger Twin-Gemini said...

Very well said! It certainly was a mistake of the customers'. Who in their right mind would give out their Bank accounts' PIN number?
But Bill O'Reilly, Lou Dobbs and the likes, would certainly make a big thing out of such incidents.

I think the only way to fight this is to show responsiveness to such issues by the concerned govt., which, I think, is being done.

Mr. Narayanan,
I think, they are treating this issue with due respect. They have already nailed and jailed the culprits, which should put the authorities in the right light. And yes, Lou Dobbs hates any place that is outside his world.

Very true. He runs a list of companies outsourcing their business overseas on a daily basis.

Me, Jaganlee,
Mikka nandri! Thangallakum eniya Puthandu Vazhukkal.

Ellaroda accountulendhu $10 adijakkoda podhum! Adhuve bumper lottery stylula jackpot money.

Thank you, hope you and your family have a bright and prosperous new year!

Engeyum ille pa. Had my surgery that day :-(

Romba Nanri! Thangallakum en manamarndha Puthandu Nalvazhthukkal. Konja naala vootandave simply baiting after a surgery.

Aamam, konja nalla simply sitting at home. Dank you! En manamarndha Puthandhu Nalvazhthukkal!

Yes, thats right. Because of the amazing growth, these hiccups are bound to happen. If the govt. and the authorities take care of it properly then it shouldnt have too much of a bad effect.

Monday, April 18, 2005 9:19:00 PM  

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