SmartIPX Q2 Fraud Report
South American and Caribbean Number Ranges Back in Fashion
Telecom fraud continues to be a lucrative criminal business and an attractive target for fraudsters. At the i3 forum’s 7th annual conference last May, Robert Benlolo of Tata Communications highlighted the financial implications of telecoms fraud in a stark presentation in which he made it clear that of the total $2.25 trillion of global telecom revenue, a staggering $38.1bn is lost to fraud annually – a 2% revenue loss across the industry as a whole.
In our second quarterly fraud report for 2016, we look further into these figures showing that cybercrime as a whole is now more lucrative for criminals than illicit narcotics and examine recent and concerning changes to the timing and geography of fraudulent attacks.
Our fraud reports are free to download and share with your colleagues; we merely ask that you credit us when sharing whether internally or or social media. Join us in the telco fraud conversation with the hashtag #Q2FraudReport on Twitter and let us know your experiences!