Fraud Hot Spots
New insights from SmartIPX
Monitoring Fraud in 2016
The fraud monitoring front is still as rapidly changing as ever
Voice Fraud Infographic
See where the attacks are being made and how
Monitoring & Responding to Fraudulent Activity
Read Steffen’s interview regarding out of hours activity
Fraud Negatively Impacts Everyone
Including residential and commercial customers with losses increasing the communications carriers’ operating costs, resulting in higher service costs to the end user. Technical briefing on fraud in the telecommunications industry.
Around $40b Per Year is Lost to Fraud
Telecoms voice fraud is big business with the Communications Fraud Control Association reporting that mobile and fixed line carriers lose around $40b per year to fraud.
The latest reports break this down into more detailed descriptions and losses of different fraud types:
- Roaming Fraud – $6.11 billion globally
- Premium Rate Fraud – $4.73 billion globally
- PBX Fraud – $4.42 billion globally
- IMEI Reprogramming Fraud – $2.6 billion globally
- Interconnect Bypass Fraud – $2 billion globally
- International Revenue Share (IRSF) Fraud – $1.8 billion globally
What this means for companies here in the UK is a need to ensure their services are protected at all points along the telecoms journey – preventing and mitigating fraud and security issues are two of the most important defence mechanisms available.
Getting these right ensures that system resource integrity and operator fiscal integrity are maintained for the optimal operation of the system and the operator.
A number of organisations, including the i3 Forum, are engaged in fraud prevention initiatives because of the level of revenue which is being lost to operators through this illegal activity.
While the security aspects of these issues are more related to defending the health of the platform, telecoms fraud related issues are directly linked to their operators’ financial health as they involve payments for services which were not ultimately provided to their customers.
There are a number of fraud mechanisms in the marketplace and the fraudsters are constantly on the lookout for new ways they can beat the system and bill the operators.
Combating fraud is an ongoing battle for the telecoms industry and at SmartIPX we deploy Cataleya’s Orchid One Network Session and Application Manager, (a highly advanced evolution of a Session Border Controller), on behalf of our clients.
This in turn allows them to offer best of breed technology to their customers. This agile and responsive way of monitoring – 24/7 by our team of FTE engineers and technicians – means we can not only offer advanced QoS and QoA but also effectively spot fraud trends before they become an issue and work to mitigate the risks for our customers.
Cataleya is working closely with operators on fraud related issues and developing solutions on the Orchid One platform that can help mitigate fraud scenarios for operators and is actively engaged with the i3 Forum’s fraud workgroup, Yates Fraud Consulting and with other operators to alleviate fraud situations and to increase the role it can play in early detection of fraud situations.
Cataleya’s CEO Jay Jayasimha recently hosted a webinar titled Preventing and Mitigating Voice Fraud which provided the audience with a more in-depth understand of:
- The financial impact of Fraud
- Examples of Fraud
- Ways to tackle Fraud
- Importance of Deep Voice Analytics in Fraud Prevention
- Investment in Fraud Prevention and ROI
To sign up to view the webinar, visit Cataleya’s release about it here. If your company is impacted by telecoms fraud in your network, or you wish to set up a protection and mitigation plan, please contact us and we can discuss how to address your challenges.