Guest Post: Telecom Frauds and Revenue Leakage

Guest Post by Guest post by Roger Collings
Despite advancements in technology, telecom frauds continue to be a major source of revenue leakage for businesses and telecom operators alike. It’s believed that businesses worldwide face a loss of 3 – 9% in annual revenues through telecom frauds. According to statistics published by the Communications Fraud Control Association (CFCA), telecom fraud costs businesses more than $40 billion each year.
How do various types of telecom frauds lead to revenue losses and leakages? Let’s take a closer look.

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Fraud Enabling Service – False Answer Supervision

As some of you know, I was speaking at the Digium Asterisk World event, that took place in Miami a couple of weeks ago – as part of the ITexpo show (http://www.tmcnet.com/voip/conference/digium-asterisk-world/default.htm). During my presentation, I had showed the following slide:

Well, apparently, I was slightly wrong – well, not all the way wrong. While the general term is that fraudsters don’t publish their success on the Internet, it would appear that we are now at the verge of seeing “Fraud Enabling Services”.

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Dipping your BIG DATA pool

Everybody is talking about BIG DATA. Since the proliferation of data accumulation during the past few years, almost any business is confronted with the BIG DATA question. While Google, Facebook, Twitter, FourSquare and such are more than able to utilize this trend, how can other companies benefit from the BIG DATA advantage?

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Press Release: Humbug Pro Now Actively Blocks Fraud

Humbug releases version 3.0 that proactively blocks fraudulent calls before they are made

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Press Release: Socializing Telephony Fraud Prevention

Humbug Telecom Labs, provider of carrier-class fraud prevention, detection and telecom analytics for any size business, today announced that they will be participating at TMC’s ITEXPO East 2012, being held February 1-3, in the Miami Beach Convention Center.

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Free VIP Expo pass to IT Expo

Free VIP Expo Pass for IT Expo and information about Humbug presenting a collocated shows.

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Come hear Humbug present at IT Expo

Eric is on a Panel titled: What Cloud Means for Fraud Prevention on Wed. Feb 1st at 2:30-3:15
Nir’s presentation is titled: Socializing Telephony Fraud on Thurs. Feb 2nd at 1 pm

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Hambleton Police warn businesses about phone fraud

Police in Hambleton have issued a warning to businesses to make sure their phone systems are secure.

This advice follows a recent fraud investigation which has cost a local business in excess of £20,000.

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Mobile Phones Vulnerable to Hijack and Fraud

Recently there have started to be concerns raised about smart phones in terms of privacy and security.

As reported in Reuters article: GSM phones vulnerable to hijack scams –researcher new research at Security Research Labs shows that even feature phones using GSM can be hacked and used “to make calls or send texts to expensive, premium phone and messaging services in scams, said Karsten Nohl, head of Berlin-based Security Research Labs”

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ComReg warns firms to be on guard against PBX fraud

Telecoms watchdog ComReg has warned there has been a rise in the number of PBX fraud incidents where firms’ telephone systems have been hacked into and large bills generated over their lines.

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