Consumers expect to manage telco and media services via apps and be able to perform activities, such as change of personal information, payment details and passwords, which are considered high risk. They expect easy and instant access to billing details and purchase history, for example. By offering these capabilities which enhance user convenience, operators also open new opportunities for criminal attacks, mostly focused on credential testing, account manipulation and data gathering.
Amid increased customer expectations and competition from new providers, telcos are becoming increasingly burdened by fraudsters looking to capitalize on the increased distribution and demand of communications in the digital era. Telecommunication providers must be able to detect and block fraud while delivering a positive experience for good customers.
Fraudsters are also becoming adept at leveraging operators’ networks in order to launch attacks, deploying sophisticated social engineering and phishing attacks in order to access sensitive information and credentials. Attacks utilizing an operator’s network can also be seen as the first step leading to more profitable fraudulent behavior, such as subscription fraud.
Effective protection against fraud in telecommunications relies on accurately distinguishing between legitimate customers and cybercriminals in near real time – from the end-point and network, to mobile apps. Operators require an enterprise-level fraud solution which effectively detects high-risk or anomalous behavior.
Detect and Mitigate Telco Fraud while Prioritizing Convenient and Personalized End User Experiences
LexisNexis® Risk Solutions delivers multiple layers of defense against fraud, enabling telecommunication providers to better understand the digital identity of their connecting users, detect suspicious behavior or compromised devices and mitigate fraudulent behavior more accurately.