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Service providers and enterprises beware: Industrial-scale telecom fraud is here
Everyone can agree that new problems require new solutions. This is particularly true, says Peter Ford, EMEA regional vice president at iconectiv, for service providers and enterprises hoping to halt the rising epidemic in industrial-scale telecom fraud.
Despite having implemented sophisticated fraud management systems, service providers continue to struggle with significant telecom fraud losses. International Revenue Share Fraud (IRSF) – the artificial inflation of call traffic by criminals to high-cost international destinations – is the world’s most lucrative telecom fraud. According to a study by the Communications Fraud Control Association (CFCA), carrier losses from IRSF were more than US$6 billion (€4.87 billion) globally in 2017.