Did you know that voice hacking costs operators billions of dollars each year? Protecting yourself from fraud is complex, but by asking the right questions, you can protect your profitability and reputation.
Fixed and mobile network operators face a potential commercial loss of 0.5% to 5% of their revenue due to fraud, as noted by the i3 Forum.
Fraud also impacts business relationships and can lead to your customers and partners choosing to work with other operators. Fraud committed today hurts profitability in the near term, while the loss of trust in the industry can impact the business for years to come.
Call hijacking, False Answer Supervision (FAS), hacking of customer telephone systems, International Revenue Share Fraud, calls manipulated to b-numbers, Wangiri Fraud (missed call campaigns) all have the potential to hurt your business if you don’t take steps to protect yourselves.
For operators, the key is to identify trends, risks, and schemes so that they can take swift proactive action and protect themselves and their customers against fraud.To do this, you need to be sure your wholesale partners and suppliers are offering comprehensive fraud mitigation that cuts across voice, mobile, internet, data and enterprise environments.
Here are seven questions to ask when choosing a wholesale voice partner:
- Fraud Management System: Does it have a Fraud Management System to protect and alert you of suspicious traffic patterns?
- Calling Line Identification (CLI) Management: Does it offer “A” Number management to establish a maximum spend per subscriber?
- Numbering Plan Strategy: Does it have an active Numbering Plan strategy to prevent fraud on unallocated numbers and ranges specifically designed for fraud?
- FAS Policy: What is its FAS policy? Are they active in removing fraudulent routes and suppliers from their network?
- Alerts and Reporting: Does it offer customizable alerting rules, destination capping, and automated daily reports on pre-determined thresholds?
- Due Diligence: What is its process for on-boarding new suppliers? Does it have an in-depth due diligence and testing process for fraud risk for new suppliers or does it bring any supplier on board?
- Specialist Teams: Does it have a dedicated team comprised of experts who are able to understand complex fraud schemes and can take immediate proactive action to protect your interests?
If a wholesale voice partner is not offering all of these anti-fraud services then they could put your business at risk. It is only when a complete approach is taken that fixed and mobile operators can be confident that their profitability and reputation are protected.
About the Author
Senior VP, Product & Business Strategy at Tata CommunicationsMore Content by Christian Michaud