Search Results for: Fraud patterns

In the ever-evolving digital landscape, scams and fraudulent activities have become more prevalent, with voice call frauds like vishing emerging as a particularly insidious threat.

In this article AB Handshake delves into the complexities of vishing scams and explores innovative anti-vishing solutions to mitigate these risks. “Impersonation fraud and basic prevention techniques”

As smartphone technology has advanced over time, the variety of telecoms fraud schemes targeting networks and customers has also expanded. In the early days, telecoms fraud involved threat actors exploiting payphones for free long-distance calls or trading stolen phone numbers. Today, fraudsters have refined their tactics, using methods like infiltrating phone systems or utilising counterfeit caller IDs to trick people into disclosing personal data, writes Kelvin Chaffer, the chief executive of Lifecycle Software. “How CSPs can combat fraud with AI and machine learning“

Fraud fighting firm SEON says it is strengthening its mission to eradicate online fraud. It updated its fraud detection solution with new capabilities that aim to increase its ability to detect fraud while decreasing false positives from legitimate customers.

Ribbon Communications Inc., a global provider of real time communications software and network solutions to service providers, enterprises, and critical infrastructure sectors, introduced Ribbon Call Trust™, its new identity assurance portfolio. “Ribbon advances protection against robocalls and fraud, ensures calls are legitimate”

A new study from Juniper Research has found that businesses in eCommerce, airline ticketing, money transfer and banking services, will cumulatively lose over $200 billion (€181 billion) to online payment fraud between 2020 and 2024; driven by the increased sophistication of fraud attempts and the rising number of attack vectors.

“Online Payment fraud losses to exceed $200 billion over next 5 years”

Every business today is facing a host of new threats in the communications world. Telecoms service providers are no different, and the growing challenge that is VoIP and toll fraud is now estimated to cost £25.5bn globally; more than double that of credit card fraud, writes Carl Boraman, the director of strategic alliances and Tollring.

“AI is already delivering savings in the fight against fraud”

Mavenir, focused on transforming mobile network economics for Communications Service Providers (CSPs), announced its Network Security and Fraud Management Suite including a Fraud Management System equipped with big data analytics and advanced AI techniques such as machine learning and deep learning. “Mavenir announces advanced network security and fraud management suite”

Everyone can agree that new problems require new solutions. This is particularly true, says Peter Ford, EMEA regional vice president at iconectiv, for service providers and enterprises hoping to halt the rising epidemic in industrial-scale telecom fraud. “Service providers and enterprises beware: Industrial-scale telecom fraud is here”

Telecoms fraud is an expensive business, writes Katia Gonzalez, the head of fraud operations at BICS. According to the most recent Global Fraud Loss Survey by the Communications Fraud Control Association, fraud cost the industry a huge US$29.2 billion last year alone. This figure was down by more than 23% on 2015’s total, which is certainly encouraging, but the potential remains for the various types and methods of telecoms fraud to do some substantial financial and reputational damage.

“How AI can help in the fight against fraud”

Machine learning (ML) and artificial intelligence (AI) – algorithms that learn from data and make predictions – are unlocking opportunities for businesses in almost every field. If you’ve shopped online and suddenly seen advertisements for items suspiciously tailored to your taste, then you’ve seen the wonders of ML and AI at work. “ML and AI – the future of revenue assurance and fraud management”