According to the Communications Fraud Control Association, the estimated global fraud loss for Communications Service Providers reached more than $29 billion in 2017. This includes various cases of fraud carried out against either CSPs or their subscribers, such as bypass fraud (call and message spoofing), Wangiri/callback fraud, phishing for personal information, and others.
Although global fraud loss has been on the decrease due to the providers’ ability to prevent some of the most common cases and increased regard for cyber security, fraudsters and scammers have also been improving their methods to profit from CSPs and subscribers alike.
Elitnet’s Fraud Prevention solution uses Artificial Intelligence (AI)/Machine Learning (ML) methods to process all related data within the CSP’s network to detect any anomalies which may be associated with a wide range of fraud cases. Once an anomaly is detected, further predefined actions may be taken to ensure subscriber and network protection.
The solution is implemented as a collection of data processors/applications for Elitnet’s Data Analytics Platform, a high-performance data analysis platform which covers data collection from multiple sources, AI/ML enabled data processing, and powerful reporting and monitoring tools.
DETECTED FRAUD CASES
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