The only way to fight fraud is through working together. It is a threat to the entire international Carrier ecosystem and something that has a direct impact on our balance sheets. When fraud isn’t addressed, it can hurt profitability and even impact the viability of a Carrier’s business. This is why the i3forum has a dedicated working group focused on the fight against fraud.
Fraud is a great example of how industry-wide collaboration is directly impacting the Carrier’s bottom line. When different players from the community come together, the entire industry can benefit from viable fraud solutions. i3forum is listening to the voice of the Carrier ecosystem from Vendors and Service Providers to Enterprises, to best protect commercial losses.
On a daily basis, the ‘Fight Against Fraud’ workgroup is communicating and collaborating to combat growing fraud issues. It works together to ensure the profitability of not just their business but for Voice businesses around the world. As an example, the workgroup has focused on dispute handling with the Carrier ecosystem, one that is highly relevant in today’s market.
Operators can be hit by a wide variety of fraud scenarios and, given the market reality; more and more disputes get to the wholesale Carrier community. While in some cases the dispute can be justified, there are still many instances where such a conflict is unjustified. This is where dispute handling becomes not only critical but also best practice when fraud occurs.
Disputing and withholding payments to the Carrier should not become an automatic reflex especially if it’s to cover revenue loss from comprised security and push the financial responsibility for that to the Carrier. It can however be justified if the end goal is to impact the fraudsters. Identifying the different fraud scenarios helps simplify dispute handling.
With fraudsters innovating all the time, fraud is a dynamic and growing threat to our businesses. It is up to us to understand the risk and stay ahead of the curve when it comes to fighting against it.
In most cases of fraud, following the right procedures and providing the Carriers with sufficient evidence will help settle disputes effectively. In some scenarios, like a pure PBX hacking case, it’s reasonable to assume that its namely the operator’s network and infrastructure security that should be questioned. With PBX, i3forum highlights ways operators can safeguard against these threats.
Fraud is a concern to all players in the Voice market. i3forum’s work is helping to establish industry-wide best practices and guidelines. As more people get involved and work together, the stronger we can be in our fight against fraud.
That’s good not just for the revenue of the Carrier ecosystem but also for the reputation of all the players involved. It’s bringing people together to create a profitable and sustainable business.
At i3forum, we take a holistic approach to address challenges including technical, operational and business issues of the Carrier ecosystem. We want more people to get involved as it makes us stronger and better able to combat against fraud. We rely on the knowledge, experiences and expertise of the industry to curate best practices and recommendations for you.
If you’d like to find out more about how the i3forum is supporting the fight against fraud, learn more at www.i3forum.org
Read the workgroups whitepapers here: http://i3forum.org/blog/category/fight-against-fraud/