Telecom fraud is on a continuous rise and is one of the biggest sources of revenue loss amongst Telcos. As per a report from CFCA Fraud Loss Survey, Telecom Fraud Losses have increased by 28% between the years 2019 and 2021. The onset of the pandemic in 2020, further escalated telecommunications fraud and security threats.<\/p>\n
According to a survey released by Mobileum Inc. (\u201cMobileum\u201d), it has been found that 75% of operators polled were experiencing new or emerging incidents of fraud and 61% said network security threats increased significantly with the onset of the COVID-19 pandemic.<\/em><\/p>\n
The report even provides data about the types of fraud loss in which IRSF and Traffic pumping incur to $6.69 billion and $4.54 billion respectively in 2021.<\/em><\/p><\/blockquote>\n
With these numbers, it becomes evident that to manage the pervasive threat of telco fraud, industry providers must have an effective fraud management approach that defends businesses and consumers.<\/p>\n