BICS has announced that Ooredoo Global Services is utilizing its crowdsourced fraud prevention platform, FraudGuard, to block fraudulent telecoms activity targeting Ooredoo’s international traffic.
The solution was deployed following a two-month trial and marks the latest expansion of the long-term partnership between the two companies.
According to BICS, the lack of an effective, universally-used fraud intelligence platform, coupled with insufficient sharing of knowledge and resources, has allowed fraudsters to move from one operator to the next, employing multiple means of attack. Service providers must continue to defend against schemes targeting international traffic, including international revenue share fraud powered by Wangiri, subscription fraud, PBX/iPBX hacking, malware and roaming fraud. BICS says fraud cost operators over €28 billion in lost revenue last year alone.
The database underlying FraudGuard consists of crowdsourced details of suspicious network activity across BICS’ global base of 1,200+ customers. As a result, says BICS, the platform is able to recognize and pre-emptively block activity to known fraud numbers – identified from a list of over 50 million that have been previously linked to criminal activity. This proactive approach reduces the time and cost required to react to fraud attempts, protecting operators’ networks, subscribers, and reputation.