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Telecoms fraud is a cause of damages that are twice the amount of credit card fraud - around $25 billion per year - and continues to grow. Added to this is the problem that Hosted UC and SIP service providers are struggling to maintain their profits per-user that are high in an increasingly competitive market. Revenue assurance departments try to improve that profitability by minimizing losses - but for many providers, toll fraud is an acceptable and anticipated loss that's just too difficult to tackle. This is especially relevant for service providers of medium size with small resources, however technological advances have allowed it to alter this. Fraud can cause more harm than simply monetary. It can affect operations of businesses and cause issues with relationships across channels. Service providers can reduce customer churn and protect their margins from loss by adopting an anti-fraud strategy. You need to check out telecom fraud specialists. There are many challenges facing telecoms service providers Speed and synchronicity of action Fraud is swiftly moving, but Tier 1 carriers aren't - we're talking thousands of employees and the responsibility for revenue assurance is spread across multiple departments and impacts many systems. The typical time for a human-based team find fraudulent activity can be many hours, which gives plenty of time for fraudsters to make multiple calls via multiple devices, across several customers, and then proceed to the next call before the company is aware that fraud has taken place. Fraud prevention does not have to be handled by hand. A fraud prevention system that detects patternsand automatically stops calls and adapts to them will identify fraud within a matter of minutes. This can help to reduce damages. Goal posts that never stop moving The methods of fraud are evolving. It is becoming a problem to pickpocket. This means that many small calls are made that are difficult to identify as being fraudulent over time. There are also more instances that use multiple technology. For example, a user may make a phone call to a fake number through SMS or email and the premium-rate nature of the call is concealed by their mobile. There is no need to be skilled in the techniques you employ. There are numerous instances in which calls are made from a hotel room and the extent of the harm is only revealed after the bill has been pulled at the time of checking out, which could be well past the agreed period for clawbacks by the carrier. Partnering with a provider that doesn't just has solutions that utilize machine learning that can self-learn and change, but who has a solid understanding of how attack vectors are evolving, puts the service provider in a position to gain knowledge and trust. Wide product portfolios Though carriers utilize a myriad of technologies to communicate with companies however, it's difficult to find a solution which is able to adequately safeguard all of them. The ability to provide the same level of protection to customers and the channel, regardless of the service used for sale, is essential. Strategies to protect against fraud should be able operate on multiple networks and prevent fraud. Customer mobility, churn and liability Customer lock-in via lengthy contracts isn't as prevalent as it used to be. This is as a result of the changing dynamics around competitiveness, particularly the ease of porting numbers, and the speed and simplicity of cloud-based solutions (as opposed to complex on-premise installations) which the market enjoys. It's much simpler for customers to switch to a different service and is one of the main reasons why customer experience is gaining so much importance. Fraud can cause disruption to relationships and create a negative customer experience. However, unlike the traditional PBX world, it's often the cloud UC service providers who are now in the chair to foot the bill. Effective fraud prevention requires more than detection; solutions must actively stop fraud within minutes to minimize the chance of disruption to customers and customer churn. Collaboration and visibility within the channel Channel partners who sell through resellers usually don't have the final customer, nor usually don't even know who the final customer is. This makes it a challenge to manage and prevent fraud on behalf of resellers and their customers. In the majority of cases service providers rely on the customers' resellers to enter sensible credit limits (if they have any facility to do this) this means they place their revenue security in their partners' hands. Implementing a solution for fraud protection which incorporates the agreed credit limits and provides transparency of alerts and outcomes for both resellers and customers results in shared responsibility and collaboration which is backed by real data and intelligence. The blacklisting method isn't effective. Another factor in the landscape of fraud is IP blacklisting. This was not very efficient, and IPv6 will render the existing lists useless. Criminals can use new IP ranges to avoid being blacklisted , and it will be simpler for them to do so with the help of billions of IPs. Automated systems which can identify fraudsters rapidly from multiple IP ranges and catch them off guard will be able to effectively stop them. Internet of Things IoT is an additional trend, because as more devices connect to networks, there could be more ways to get into the network. This opens up hackers to more possibilities and opens new ways to attack. Service providers have to depend on their customers and their partners to protect themselves. Service providers have a lot to deal with when it comes security from fraud. With so many dynamics outside of their control, it's crucial that they make sure they are able to monitor and manage the traffic they carry. Tollring's award-winning anti-fraud product, iCS Protect provides a comprehensive solution for fighting fraud. It offers security, increased profitability, and reduced turnover for tier-1 service providers across the globe.