Vodafone Carrier Services, the wholesale arm of Vodafone Business, has introduced Scam Signal, an API aimed at countering impersonation scams, particularly within the realm of Authorised Pushed Payment (APP) fraud.
This new API, Scam Signal, has demonstrated promising results, boasting a 30% improvement in scam detection during a successful pilot with a UK bank over three months.
In an era where voice calls still hold a significant place, a rising wave of voice fraud threatens to shatter this trust. With a shocking 16% of UK consumers falling victim to phone scams last year, global figures paint a worrisome picture. The fact that this issue is not fleeting, the average UK consumer receiving roughly four fraudulent calls per month in 2023, only heightens the concerns.
Juniper Research, in partnership with VOX Solutions, delves into the increasingly critical issue of Artificially Inflated Traffic (AIT) and SMS Trashing impacting the global business messaging sector. The report divulges disconcerting figures, with fraudulent activities such as AIT significantly bolstering operational costs and potentially costing enterprises an alarming $60 million annually.
Telecom analytics titan Mobileum Inc. has been selected by NTT Communications Corporation for integrating its cutting-edge technology platform into the rapidly evolving global connected car market. Mobileum’s solution, composed of connectivity management, testing, and fraud prevention capabilities, aims to ensure continuous, secure connectivity, whilst addressing the associated rise in potential fraud threats.
A recent study conducted by Juniper Research, a renowned telecommunications authority, has revealed that the escalating costs of SMS authentication services and the emergence of fraudulent activities are poised to curtail the demand for SMS-based authentication among enterprises. As a result, telecommunications operators are projected to witness a mere 4% increase in traffic in 2024, in stark contrast to the average annual growth rate of 10% observed over the past five years.
To uncover the dark secrets behind this staggering figure and delve deep into the issue of AIT fraud, we sat down with Tim Ward, the Vice President of Number Information Services at XConnect. With over three decades of experience in the telecoms industry, Tim Ward brings a wealth of knowledge and insights to the table. At XConnect, he has taken the helm of the Number Information Services division, leading initiatives in sales, marketing, and product management. Under his guidance, XConnect has launched innovative services that set new standards for access to network, service, and user information.
YouMail released a new robocall warning, saying that utility-related impostor robocalls are posing a concern to Americans. These utility scam calls claiming to be from major American gas, electric, and other utilities in order to swindle unwary victims by threatening them with instant disconnection if their “utility bills” are not paid quickly. The specifics of the scam calls differ, but they typically claim that the user’s service is going to be terminated and that they need to click a key to make a payment or speak to someone at the business. Some calls are made from an entirely random phone number and mention a generic firm name. Others link to certain departments by using a local phone number with the recipient’s area code. Some of them utilize a spoofed caller ID from a well-known utility business. Apparently, these con artists are seeking to exploit the growing number of…
DIDWW, a leading telecom operator that offers premium quality and fully compliant VoIP communications for businesses and telco carriers worldwide, has recently joined the Communications Fraud Control Association (CFCA). This membership will bring tangible benefits to the company and their customers in further strengthening protection against telecom fraud and dealing with new and emerging risks. Established in 1985, the CFCA is a non-profit international association focused on risk management, loss prevention and fraud control. With over 600 individual members, the association now includes over 115 different carriers, private network owners, end-users, law enforcement agencies, fraud management vendors and service providers from all around the world, who actively collaborate to combat and prevent communications fraud. As a member of this association, DIDWW will cooperate and network with other professionals in the industry to share their expertise and focus on the competencies needed to confront increasing fraud challenges and effectively…
Europol, the European Union’s police agency, has published a report stating that telecoms fraud is costing over 29 billion Euros every year. The survey on cyber-telecom crime was conducted by Europol’s European cybercrime center (EC3) and cyber security specialist Trend Micro. This report underlines that telecom fraud is becoming a low-risk alternative to traditional financial crime, and due to the reduced cost and increased availability of hacking equipment, this type of fraud is on the rise. According to Europol, the most common methods of telecom fraud are vishing, where people are persuaded to disclose personal details, Wangiri, where people are tricked into calling back to expensive numbers, and international revenue sharing fraud (IRSF) that is claimed to be “the most damaging fraud scheme to date”. Describing IRSF, Europol stated: “It involves transferring monetary value from one carrier to another, based on the inter-carrier trust between telecom operators. Patient fraudsters…
Oculeus, an innovative telecommunications software provider from Germany, has announced the launch of a cloud-based fraud protection service. The new solution, branded with the name Oculeus-Protect, is designed to meet the growing needs for security in the enterprise telecoms industry. The new fraud protection service is supported by the company’s regional cloud environment, and is currently available throughout Europe, and North and South America. The software provider defines the new service as “a real-time telecoms fraud protection service that provides enterprises an intelligent and automated framework to efficiently prevent false charges resulting from unauthorized usage of enterprise telecommunication channels by cybercriminals and other perpetrators of telecom fraud”. They claim that the software is able of block fraudulent telecommunications traffic within milliseconds, and have positioned the service to be totally independent of user’s telecommunications service provider. “There is a clear and definite need for our new telecoms fraud protection service,”…
