For an industry that has led, and continues to lead, some of the most important communications innovations of the modern age, telecoms has been alarmingly under-serviced when it comes to rooting out fraudulent practices.
Such practices are active on a scale of such enormity that if the losses could be prevented many operators and carriers would be stunned to see how much profitability could return to their books. It’s a battle well worth fighting.
The Communications Fraud Control Association (CFCA) estimates that the telecoms industry loses some US$ 38 billion to fraud annually.
With every innovation in the technology driving mobile device capabilities there comes an advance in the sophistication of the associated levels of fraud. As VoIP, IPTV and content delivery systems have arrived, so have ever-evolving fraud schemes.
Operators’ and carriers’ bottom lines are under constant attack from a range of different sources. Against a backdrop of shrinking average revenues per user (ARPU) as OTT services chip away at the core revenue base, the incidence and the preponderance of fraud is untenable.
Now, however, the tide is turning.
Read BICS new white paper to learn how approaches such as crowdsourcing can produce effective results in the battle against voice fraud; revealing the sources and learning from each new discovery how and where to deploy stronger anti-fraud measures.