(Sponsored News): Service providers continue to struggle with significant telecom fraud losses despite having implemented sophisticated revenue assurance processes and fraud management systems. While quantifying the exact financial impact of fraud is difficult, as it often takes place in the background, leading industry organisations and assurance companies estimate that between 0.6%¹ to 2%² of total annual telecom revenues are lost to fraud. This makes fraud a US$10 billion annual problem and it could be as high as US$40 billion annually, according to the Communications Fraud Control Association (CFCA).
To improve fraud prevention efficiency and minimise fraud losses, service providers are using new sets of numbering information as a complement to their existing fraud management systems to fight International Revenue Share Fraud (IRSF) including PBX hacking fraud. These data sets enable service providers to:
• Proactively identify and block fraudulent calls to high-risk numbers
• Obtain early warnings for their fraud prevention teams on impending attacks
• Stop future fraud rather than relying on blacklists associated with past fraud events
Read the iconectiv White Paper: “Stop Telecom Fraudsters in their Track” to learn more.
WEBINAR: Outsmarting the fraudsters: Strategies to address Telecom’s $29B Global Fraud Problem
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