The Global Leaders Forum (GLF) has released its seventh annual report on the state of fraud in the international telecom industry.
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The 2024 Fighting Fraud Report highlights key trends and developments in voice and messaging fraud, marking significant progress in combating fraudulent activity while also underscoring the need for ongoing vigilance as threats evolve.
This year’s report reveals that fraud prevention is now a top priority for 64% of carriers, a notable increase from 2023. The industry has seen improvements in mitigating international voice fraud, with 50% of operators reporting a reduction in the volume and impact of fraud for the first time since 2018. Key fraud types such as International Revenue Share Fraud (IRSF), CLI Spoofing, and Outbound Robocall (OBR) fraud remain the most costly for carriers.
However, despite some progress, the report warns that SMS fraud continues to pose a significant risk. Smishing, Artificially Inflated Traffic (AIT) fraud, and SMS Originator Spoofing are identified as the primary threats in this area. While there have been slight reductions in SMS fraud, the industry remains under substantial pressure to address these issues.
The report also highlights the increasing reliance on artificial intelligence (AI) to combat fraud. Over 60% of carriers surveyed are using AI-driven systems to enhance fraud detection and prevention. Additionally, 64% of carriers expect heightened regulatory scrutiny due to unwanted traffic, making fraud prevention a mandatory focus.
A key theme of the 2024 Fighting Fraud Report is the importance of collaboration and transparency in the fight against fraud. Over two-thirds of carriers surveyed reported that adherence to the GLF Code of Conduct, developed in partnership with i3Forum, influences their willingness to trade with peers. This year, 22 international carriers, including A1 Telekom Austria, Orange Wholesale, Vodafone, and Telefónica Global Solutions, were certified as compliant with the Code of Conduct, reinforcing its role as a critical trust benchmark in the industry.
Eloy Rodriguez, Chair of the GLF Anti-Fraud Working Group and Chief Wholesale Officer at Telefónica Global Solutions, praised the industry’s progress but emphasized the need for continued effort. "This year’s report shows that combating fraud remains a top priority for nearly two-thirds of carriers. While significant strides have been made, collaboration remains crucial to fully eradicating fraudulent traffic."
For more information on the report click here.
