- Communications fraud is a huge business bleeding massive sums of revenue.
- Fraudsters are sophisticated; attacks are constant and well-orchestrated by criminal gangs.
- Be vigilant! Invest in an anti-fraud system if your business relies on high-volume voice traffic.
Telecom fraud can be conducted via a bewildering range of sneaky tricks and tactics, including PBX dial-through, inflated call rates on premium numbers, SIM box theft, and international bypass. Examples of revenue loss for telecom providers include falsely boosted traffic, or bypassing termination rates by false SIM box locations. A1 Telekom Austria has put the figure of annual revenue loss for carriers at shocking 6% of overall revenue. The BYOD phenomenon, more IT running in the cloud, and the wider prevalence of M2M will all contribute to greater exposure of networks supporting cloud-based and mobile offerings to hacking. Moreover, as IP networks become globally ubiquitous, communications fraud becomes a part of the bigger overall cybercrime picture, whereby the fraudster only needs a computer and Internet access to conduct criminal activity. Continue reading “It’s a Game of Cops and Robbers: Communications Fraudsters Pose a Threat, but Anti-Fraud Measures Are Available”