The telecommunications ecosystem has been significantly reshaped over the past decade. It has welcomed new players. Many of them have brought new ideas and new opportunities to the arena. But fraudsters have also infiltrated this ecosystem. Fraud costs our industry over $40 billion* every year. This is a significant gap in our revenue that needs to be tackled now!
Telcos have become a target of choice for criminal organisations. What explains this emerging plague? A wide range of relays, lack of transparency of interconnected routes, speed of transactions, and the emergence of new payment products and services. These highly sophisticated forms of fraud are threatening a significant percentage of our revenues and causing considerable damage to our reputations by degrading perceptions on our QoS. Security and quality of service are precisely what differentiates us carriers, creating value for our customers.
Retrieving lost revenues will create value for our customers, the national operators – and this, of course, will provide them with an additional means to remunerate us in our role as carriers. Combatting fraud has become an imperative today to preserve our interconnection revenues and our reputation. It will also demonstrate our professional ethics, for each carrier and for the industry as a whole. All carriers can participate in this combat.
*According to the Communications Fraud Control Association (CFCA)
