Subscription fraud still biggest concern; data fraud a future threat
Subscription fraud is still the most prevalent fraud type faced by telecoms operators today, but data fraud is seen as an issue for the future, according to a recent survey by Neural Technologies.
Date: 1st May 2011
The company carried out the survey of its global telecoms customers to identify and address their fraud concerns.
Subscription fraud was cited as the number one fraud concern from respondents from fixed line and mobile operators alike. This finding coincides with that of similar studies carried out by the GSM Association and the CFCA (Communications Fraud Control Association).
Subscription fraud is the starting point for many other telecoms fraud scams; and as such is recognised as the most damaging of non-technical fraud types.
Neural Technologies has successfully been managing subscription fraud for telecoms operators for a number of years with its Minotaur Fraud and Risk Management Solution. Now, the company has launched MinotaurCloud, a hosted version offered on an affordable monthly subscription basis.
Future threats: Data, credit card and mobile payments fraud The survey revealed a different story with regards to future threats. Of greatest concern was fraud associated with data transfer on full IP networks, e.g. 4G and LTE (Long Term Evolution).
In particular this included IP PBX hacking, viruses and malware, unauthorised redistribution of service over IP and signalling fraud (e.g. SIP fraud).
This was followed in turn by concerns about credit card fraud and mobile payments fraud.
Neural Technologies’ Commercial Director, Luke Taylor, said: “The purpose of the survey was to ensure that we are constantly keeping up-to-date with the latest fraud threats. The fraud risks posed by data networks are being evaluated as part of our ongoing research and development to ensure that our solutions are fully capable of protecting next generation networks and services”.
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