Press release

Ever-Growing Complexity of Telecom Fraud and Its Ripple Effect

Sponsored by Businesswire

The misuse and fraudulent abuse of phone networks is a growing worldwide
problem that continues to trouble regulators, hit service provider
revenues, impact customer service and annoy businesses and consumers

The Communications Fraud Control Association (CFCA) reports that phone
companies suffered a collective loss to fraudulent activity just shy of
$30 billion. On top of that, international subscription revenue fraud
(IRSF) has grown six-fold
in the last five years. Not surprisingly, it is becoming increasingly
difficult for fraud managers to stay on top of the latest fraud
techniques and prevent significant losses to their bottom line.

A new market brief from industry leading telecommunications partner,
iconectiv, highlights proactive measures service providers can use to
block unwanted calls and reduce network fraud, including revenue share,
subscription, PBX hacking and Wangiri fraud. The brief outlines best
practices for using numbering intelligence to augment existing fraud
management systems to outsmart the fraudsters.

“Stopping and preventing fraud remains a moving target, and fraud
managers must be mindful and vigilant,” said Richard Jacowleff, CEO and
President, iconectiv. “With fraudsters becoming increasingly
sophisticated, security and fraud strategies need to stay several
strides ahead of the latest techniques in order to efficiently and
effectively block vulnerabilities before attacks happen.”

Adding to the complexity, service providers are under pressure to
deliver new and innovative services to retain customers and
differentiate themselves from competition. While much of the attention
is on creating and funding these innovations, what is often overlooked
is the fraud and security implications they pose. Each technology and
service added means new possibilities for fraudsters to infiltrate a
network and new techniques for fraud managers to implement to prevent it
from happening.

The iconectiv market brief highlights best practices and industry
solutions, inspired by TruNumber
, which provides authoritative
numbering data to enhance existing service provider systems. This
process targets suspect incoming calls and is supported by up-to-the
minute awareness of attacks and patterns of behavior. Adding TruNumber
Protect can also give you the data needed to block whole number ranges
and spot patterns that can signify large-scale fraudulent activity.

Learn how to outsmart the fraudsters to safeguard your revenue in
iconectiv’s market brief. Copies can be downloaded here.

About iconectiv

iconectiv provides authoritative numbering intelligence to the global
communications industry. Our market-leading solutions enable the
interconnection of networks, devices and applications for more than two
billion people every day who count on a simple, seamless and secure way
to access and exchange information. With 30+ years of experience and
more than 5K customers worldwide, iconectiv has intimate knowledge of
the intricacies and complexities in creating, operating and securing the
communications infrastructure for service providers, regulators and
enterprises. Our solutions span network and operations management,
numbering, registries and fraud prevention. For more information, visit