Industry Brief Details Expanding SMS Fraud Problem on Service Provider Networks

Market brief examines emerging anti-fraud, identity and authentication solutions to combat costly SMS fraud

PISCATAWAY, N.J.--()--iconectiv, an authoritative partner of the global communications industry connecting more than two billion people every day, today released a financially pertinent market brief, Defense Solutions for the Modern SMS Ecosystem, on costly SMS fraud threats currently plaguing service provider networks. As detailed in the publication, service providers are often chronically afflicted by several types of SMS fraud including: phishing scams, A2P ‘grey route’ fraud, and spoofing. When combined, these types of fraudulent messaging can prove costly for service providers, as threats often lead to an immediate loss of revenue. According to the Communications Fraud Control Association (CFCA), it is estimated that the industry experiences an estimated $4.3 billion in annual losses due to SMS-related fraud. Additionally, network subscribers often receive unwanted and harmful messages, which further shrink profitability when increased customer dissatisfaction leads to increased user account cancelations.

“The high demand by service providers for impermeable fraud management solutions is a reflection on increasing fraudulent threats as attacks become more rampant and advanced,” said Scott Puopolo, Executive Vice President, Information Solutions, iconectiv. “As an industry leader in carrier revenue assurance, iconectiv has a unique perspective into the complex interworking of the telecom industry and best positioned to strategically pinpoint and stop fraudulent activity before it harms network infrastructure.”

The progressive document also highlights powerful anti-fraud solutions developed specifically to protect service providers from fraudulent activity on their networks, resulting in better business and revenue gains. Among the most impressive solution features is the ability to protect, identify and autonomously remove threats from networks before they reach end-user devices.

iconectiv has an extensive history of developing and supplying leading anti-fraud technology to service providers, regulators and global brands. The New Jersey based company announced the document's publication in advance of iconectiv’s annual presence at the world’s leading telecommunications event, Mobile World Congress, in Barcelona. In addition, iconectiv stated high-level company executives will be on hand throughout the event to provide commentary and insight on the latest fraud affecting service providers and preventative solutions, the power of individual mobile identity, as well as, Internet of Things interoperability standards.

About iconectiv
At iconectiv, we envision a world without boundaries, where the ability to access and exchange information is simple, secure and seamless. As the authoritative partner of the communications industry for more than 30 years, our market-leading solutions enable the interconnection of networks, devices, and applications for more than two billion people every day. Working closely with private, government and non-governmental organizations, iconectiv has intimate knowledge of the intricacies and complexities of creating, operating and securing the telecommunications infrastructure for service providers, governments and enterprises. iconectiv provides network and operations management, numbering, registry, messaging and fraud and identity solutions to more than 1,200 customers globally.

A US-based company, Telcordia Technologies, doing business as iconectiv, is a wholly owned subsidiary of Ericsson. For more information, visit www.iconectiv.com.

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Contacts

iconectiv
Sharon Oddy
+1-732-699-5130/908-809-2268
soddy@iconectiv.com
or
Global Results Communications
Lora Wilson/Gabe Uribe
+1-949-608-0276
iconectiv@globalresultspr.com

Contacts

iconectiv
Sharon Oddy
+1-732-699-5130/908-809-2268
soddy@iconectiv.com
or
Global Results Communications
Lora Wilson/Gabe Uribe
+1-949-608-0276
iconectiv@globalresultspr.com