The arrival of new fraud destinations throughout 2016 demonstrated that telcos cannot afford to drop the ball for a second when it comes to the fight against fraud.
Traditionally, Africa was seen as a common target for telecom fraud, because the termination costs are very high and regulation is not as stringent as in other parts of the world. However, throughout 2015 and the early part of 2016, the focus for the termination of fraud shifted to Europe, specifically within the Balkan States like Bosnia, Serbia, Azerbaijan and Albania.
The geography of the new attacks also showed that businesses must remain ever vigilant in order to protect their telecoms profits with new destinations including Estonia, the Congo, the Netherlands and Guinea Bissau – locations across the globe.
Other new attacks included Oman, Austria, France, Mexico, the Philippines and the UAE. There were also attacks for some of the usual suspects: Bosnia, Azerbaijan, UK Non-standard and Albania, with the Baltic States continuing to be at the top of our fraud destination lists throughout the year.
Whilst these destinations remained the most active, during the second quarter of 2016 there was also a rise in fraud attempts using South America and the Caribbean specifically around Haiti, the Cayman Islands, Dominica and St Kitts & Nevis, with other new destinations including Eritrea, Morocco, Bolivia and Latvia.
During the last quarter some new country ranges have been ‘attacked’ for the first time: Estonia, Congo, Netherlands, Oman, Austria, France, Guinea Bissau, Mexico, Philippines and UAE.
There have still been attacks for some of the usual suspects: Bosnia, Azerbaijan, UK Non-standard and Albania, while some problem destinations have been remarkably quiet during Q3: Serbia, Cuba, the Maldives and Comoros. During the last quarter, there were relatively more attacks for Europe and Asia, but fewer attacks for Africa and the Americas.
Telecoms fraud can be dismissed as a victimless crime – this isn’t the case. Fraud negatively impacts consumer and commercial customers alike; pushing up costs, funding crime and in more recent times, terrorism.
Clearly, this is highly detrimental to the industry and requires a proactive approach – if you’re not fighting fraud, you could actually be facilitating it by inaction. SmartIPX deploys fraud solutions that can help you to protect your service, safeguard your margin and maintain your credibility. Contact us to find out more.