In order to combat telecoms fraud it is essential that operators share more information between them than they historically have done, according to the Telecoms UK Fraud Forum.
In an interview with Telecoms IQ, TUFF’s CEO Jack Wraith explained that: “In order for legitimate communication service providers to combat the attacks against them and their systems, it is critical that information is shared between operators on a much wider basis than traditionally has been done. And, of course, that is what the Telecoms UK Fraud Forum is all about; putting in place the necessary protocols to enable information sharing to take place.”
The more traditional fraud of billing avoidance and identity thefts are still a major concern for operators who are now coming down tougher than ever to protect revenue. However, new emerging threats and frauds are entering the market place especially with mobile payments.
In June Juniper Research announced that 1.8 billion mobile phone users are already making payments for digital goods with this number to rise to 2.5 billion by 2015. However, they also warned that fraud levels with certain types of payments are increasing making mobile security a key issue in the near future.
This is something that TUFF are already focusing on “The move towards the internet remote type channels, where their card is not present, in other words where the person who’s transacting the transaction isn’t actually present – fraudsters are using the cards which are either false cards or stolen cards, and they’re obtaining goods and services that way; so for us card not present fraud is fairly high up on the radar.”
Jack Wraith will be chairing Telecoms Fraud & Risk Management on day one of the conference in December.
To listen to the full interview, please click here.