Traditional telecoms fraud was once focused on voice services, with attacks attempting to gain international dialing access or generating revenue from voice revenue share services. However, with the traditional voice market slowly giving way to IP-based calling and smartphone technology, fraudsters have shifted their focus towards the consumer and mobile devices.
In addition, fraudsters are capitalizing on the cheap sale of stolen identity credentials in order to sign up for expensive handsets or post-paid contracts for resale. The growth in subscription fraud and account takeover attacks is testament to the fact that fraudsters are becoming ever more adept at piecing together stolen credentials in order to open, or take over existing customer accounts.
With online and mobile technology completely redefining their position in the digital landscape, telcos are not only the victims of fraud. They are under attack from all sides. As the source of cross-industry attacks, telcos must protect customers from attacks on their services and apps. As the network is utilized for attacks, telcos must protect against social engineering and phishing while securing customer data. The impact of such attacks extends past the monetary, with telcos risking serious reputational damage that can impact their position in an already fiercely competitive marketplace.
Walking a tightrope between customer experience and security, operators require an enterprise-level fraud solution which effectively detects high-risk or anomalous behavior, securing logins and protecting against account takeover.
Learn more about the unique telco position in the evolving cybercrime landscape in our e-book.
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