Brussels-based BICS, a wholesale carrier for voice, mobile data and capacity services, disclosed today that its global crowdsourcing fraud prevention platform, FraudGuard, detected and blocked more than ten million fraudulent call attempts on its customers’ mobile networks during the first three months of 2016, adding that the FraudGuard fraud database now contains over 400,000 numbers around the world associated with criminal activity. The Communications Fraud Control association estimates global telecoms fraud costs the industry EUR3.3 billion (USD3.68 billion) each year, with the most prevalent types being International Revenue Share Fraud, PBX hacking and Wangiri (an automatic computer-based dialling system originating in Japan).
Among the tier one operators to adopt FraudGuard is French provider Bouygues Telecom; in January-March 2016 BICS estimated that it saved the operator EUR130,000 via fraud protection. Thierry Nedellec, wholesale manager at Bouygues said: ‘Protecting revenue from fraudulent activity is a key priority for Bouygues and we have already reaped the benefits from adopting BICS’ FraudGuard platform, with over 200 fraud attempts blocked at the start of this year and no incidences of legitimate calls being prevented.’
‘The advent of all-IP networks has magnified the speed and magnitude of attacks aimed at the telecoms industry,’ said Katia Gonzalez, head of fraud operations at BICS. ‘Being a truly global industry means attacks can come from anywhere at any time, so it’s imperative network operators share knowledge of incidents to enable proactive measures to be taken by their peers. Only by collaboration and adopting proactive measures can the industry beat this growing problem,’ Gonzalez added.