Telecoms fraud comes in all shapes and sizes and impacts across the sector and the international nature of fraud makes identifying and subsequently prosecuting frauds almost impossible for resellers and authorities alike. It is said to cost the UK economy over £1.5bn a year.
Is the problem too big and widespread to address? Is the Government/Police doing enough to prevent it? What can resellers do to proactively prevent fraud?
Steve Glaister our Sales Director gives his thoughts on the subject.
WHAT IMPORTANCE DO YOU PLACE ON TELECOM FRAUD PREVENTION AND WHY?
- Telecoms fraud is hugely detrimental to customer relationships at all levels, and at Invosys its prevention is absolutely key to our overall strategy. It is at the highest level of our concerns.
WHAT PROCEDURES TO YOU HAVE IN PLACE TO PREVENT TELECOM FRAUD?
- Our services are primarily inbound, so we have developed systems that only allow our customers to route to none-risk international destinations – we obviously bar premium rate terminations. In addition to this we also have alerts in place that show attempted routing to barred destinations, enabling us to stop a possible fraud long before it actually occurs.
DO YOU FEEL ENOUGH IS BEING DONE BY THE UK AUTHORITIES TO PREVENT TELECOM FRAUD?
- Telecom fraud falls under cyber-crime and while it is worth £1.5bn, in relative terms it is small compared to credit card and bank fraud, so will never be the top priority. Following the money would be the route and more should be done by the ultimate carriers to prevent the paying. If criminals are not paid, it instantly cuts short the scam.
HOW DO YOU KEEP UP TO DATE WITH THE LATEST TELECOM FRAUD SCAMS ETC.
Invosys are members of FCS and I am head of the Fraud Group. I believe that knowledge sharing is the best route to preventing fraud and the channel should put competition aside and work together to share experiences and solutions. After all, fighting fraud benefits us all.
If you have any questions regarding this article or any of our products, please contact our sales team on 0161 444 3333 or email firstname.lastname@example.org.