At AurorA, we pride ourselves on serving our customers premium quality voice termination services. One of the differentiators of the service offering is also fraud protection-as-a-service bundled into the product. Is telecom fraud a big enough issue to make this a compelling reason to trust AurorA with your voice traffic over the competition that offers cheaper rates for an LCR approach ?
How big of a problem is telecom fraud anyway ?
Well, we now have some very reliable numbers to be able to estimate the scale and scope of the telecom fraud problem.
The Risk & Assurance Group (RAG) Survey of Revenue Assurance and Fraud Management (RAFM) received 175 responses from professionals who work in the RAFM functions of communications providers. Extrapolating from the answers they gave showed that during this year:
• telecom service providers collectively lost $44 billion US$ to fraud
• telecom service providers also collectively lost $50 billion US$ to non-fraudulent revenue and cost leakages
• criminals tricked the customers of communications services into losing a further $48 billion US$
The total estimate for global telecom annual risk assurance and fraud losses is $142 billion US$
Telecom Fraud is a HUGE problem. This is why we bundle fraud protection-as-a-service with our premium quality. Cheap rates do not save you any money over premium quality rates, especially if you get hit with even one fraud attack. This is why we consistently advocate choosing quality over Least Cost Routing. Read more here.
You can download the survey report here. Everyone is licensed to share and reproduce the report on condition that they give credit to RAG.
Stay safe my friends !
