By Kelvin Chaffer, CEO at Neural Technologies
Global consumers lost over $1 trillion to financial fraud, affecting nearly one in four people worldwide, according to the GASA report. Behind this staggering figure lies a deeper truth:
Mobile devices have become the new front line for fraud; targeted digitally, physically, and increasingly, in coordinated ways.
As our personal and financial lives become more integrated with mobile technology, the smartphone is no longer just a communication device, it's a gateway to payments, authentication, and sensitive data.
This convergence has made it a high-value target for fraudsters who are exploiting the overlaps between devices, networks, and services.
Too often, discussions about network security, device protection, and fraud mitigation happen in silos. But attackers don’t operate in silos. Attackers exploit the intersection of telecom infrastructure, personal devices, and financial platforms, and they’re getting more coordinated, more creative, and more localized.
Fraud tactics are evolving faster than many defense strategies can keep up with. These threats don’t operate the same everywhere. Attackers adapt their techniques to the specific vulnerabilities of different regions, infrastructures, and user behaviors.
In some regions, device theft dominates. In others, SIM swap fraud or fake base stations lead the charge. What’s clear is that fraud tactics are adapting faster than many defenses.
The question isn’t if mobile fraud will increase, it’s how we respond.
Modern fraud is no longer limited to one domain. Attackers are breaching digital ecosystems by exploiting weak points across devices, networks, and service layers.
To respond effectively, we need to think beyond tools and look at the system as a whole. That means fostering smarter collaboration, integrating data signals across layers, and building real-time detection mechanisms that can adapt to how fraud actually works today: fast, cross-channel, and coordinated.
These building blocks are essential not just for stopping fraud, but to reinforce trust in the mobile ecosystem. They required a layered, systemic defense that can detect, adapt, and collaborate in real time:
With deep expertise in AI-driven fraud detection, signaling intelligence, and revenue protection, Neural Technologies remains committed to helping telecom operators and financial service providers stay ahead of rapidly evolving threats.
As mobile ecosystems expand and fraud becomes more sophisticated, collaboration will be critical.
Neural Technologies will be participating in the GSMA Fraud and Security Group (FASG) 32, let’s connect.