Traditional telecom fraud management systems
(FMSes) are designed to analyze call patterns, detect illegal routing, call-generation, common patterns typical of massive volumes of calls and other indicators of fraud.
Regardless of the level of accuracy they achieve, most of them provide after-the-fact detection – an operator's FMS signals a fraud attack after it has occurred. The operator then adjusts the system settings accordingly in hopes of preventing similar attacks in the future. However, the fraudsters evolve, finding new ways to evade detection, and the cycle continues.
Additionally, enhancing telecom fraud management systems via the traditional approach is akin to further fortifying the wall surrounding an individual operator's network. Ultimately, it leads to increased isolation.
One of the small benefits of this scenario may be the profits generated from the competition. However, the costs of this isolated approach far outweigh the benefits of eliminating the fraud altogether.
Holding on to these small profits ultimately prevents us from enjoying the wealth of benefits available when telcos operate in a fraud-free landscape:
- Efficient and accurate inspections into the transit route
- No country-specific call blocking
- More secure services for subscribers (eg. voice to verify financial transactions)
- No more outdated and costly solutions
The entire list of benefits of eliminating fraud
goes well beyond recovering revenue loss and repairing brand loyalty.
But a telecom fraud management system must facilitate transparency and cooperation. This allows carriers to monitor events along the entire call chain, detect fraud in real-time and block compromised calls before they connect. Before AB Handshake's Call Validation technology, this hasn't been possible. Voice fraudsters have continued carrying out their business, going undetected.
The mechanism of the call chain is another factor lending to their success.