Telecoms fraud – a massive cost to the industry
I periodically run themed weeks on this blog. This week it’s going to be a few posts on telecoms fraud, edited by Manuel Basilavecchia of Belgian anti fraud specialists Netaxis. Manuel has already contributed a post on PABX fraud during a previous fraud week.
The telecoms industry loses a huge amount of money to fraud. The total amount has been estimated to be in the tens of billions of dollars (see global fraud loss survey by cvidya). It is a problem that affects most businesses of any size. The worst aspect of the problem is that it often alienates service providers with their customers. The fault is often down to inadequate network security practices amongst end user companies who in turn blame their communications provider.
It is in everyone’s interest to do something about telecoms fraud but because these scams are usually perpetrated across national boundaries with multiple networks involved in the loop making any progress is a difficult thing to do. It is only the local communications provider who has the problem – of recovering the cash from their customer.
This week’s contributors include some heavy hitters in the industry including Colin Duffy of Voipfone and Dave Dadds of Vanilla IP. Keep your eye open for their posts.
First one goes live today at 1pm. Catch ya later…