BICS Whitepaper on Telecoms Fraud
The extent and types of fraud affecting telecoms operators is growing rapidly and is fuelled in large part by international fraud. This paper examines some of the most common types of frauds in international traffic and discusses the merits of a multi-network approach for effective prevention against them.
Telecoms fraud is increasing at an alarming rate globally and is one of the biggest sources of revenue erosion for every telecoms operator. The alarming fact is that two-thirds of all fraud losses, especially voice fraud losses, are tied to international traffic. One particular type of fraud, International Revenue Share Fraud (IRSF), has grown six-fold since 2013, with total measured losses growing from US$1.8 billion to US$ 10.76 billion.
Industry today is spending millions protecting itself from fraudsters post-facto, after attacks had already taken place. As a result, it is perpetually on the defensive and in reactive mode. With bottom lines under tremendous pressure it is now time for telecom executives to invest and collaborate in fraud protection solutions that will safeguard their networks from attacks effectively and proactively.
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