Telecoms Fraud Survey: Subscription Fraud Still Biggest Concern; Data Fraud a Future Threat

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Subscription fraud is still the most prevalent fraud type faced by telecoms operators today, but data fraud is seen as an issue for the future, according to a recent survey by Neural Technologies.

Subscription Fraud is most prevevalent fraud type says Neural Technologies

Subscription Fraud is still the most prevalent telecoms fraud type

Subscription fraud is the starting point for many other telecoms fraud scams; and as such is recognised as the most damaging of non-technical fraud types.

Neural Technologies - a leading risk management software provider - carried out a survey of its global telecoms customers to identify and address their fraud concerns.    

Subscription fraud was cited as the number one fraud concern from respondents from fixed line and mobile operators alike. This finding coincides with that of similar studies carried out by the GSM Association and the CFCA (Communications Fraud Control Association).

Subscription fraud is the starting point for many other telecoms fraud scams; and as such is recognised as the most damaging of non-technical fraud types.

Neural Technologies has successfully been managing subscription fraud for telecoms operators for a number of years with its Minotaur Fraud and Risk Management Solution. Now, the company has launched MinotaurCloud, a hosted version available on an affordable monthly subscription basis.

Future Threats: Data, Credit Card and Mobile Payments Fraud

The survey revealed a different story with regards to future threats. Of greatest concern was fraud associated with data transfer on full IP networks, e.g. 4G and LTE (Long Term Evolution).

In particular this included IP PBX hacking, viruses and malware, unauthorised redistribution of service over IP and signalling fraud (e.g. SIP fraud).

This was followed in turn by concerns about credit card fraud and mobile payments fraud.

Neural Technologies’ Commercial Director, Luke Taylor, said: “The purpose of the survey was to ensure that we are constantly keeping up-to-date with the latest fraud threats. The fraud risks posed by data networks are being evaluated as part of our ongoing research and development to ensure that our solutions are fully capable of protecting next generation networks and services”.

About Neural Technologies
Neural Technologies has established itself as a leading provider of risk management and business intelligence software solutions. Formed in 1990, the company has built upon a foundation in neural analytics and predictive modelling to provide quality products that increase bottom-line returns for its customers.

The company’s Minotaur suite provides advanced understanding of customer behaviour, motivations, preferences and purchasing propensities, empowering organisations to optimise revenue in the areas of fraud management, credit risk assessment, customer attrition/churn reduction, targeted marketing, collections optimisation, revenue assurance and anti-money laundering.

Neural Technologies has been ranked several times in the Sunday Times Tech Track 100 league table of the UK's top technology companies. It was named Large Technology Supplier of the Year 2008 by the British Computer Society and was awarded an IT Excellence Award in 2011.

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Louise Penson
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