• Telecom operators need to focus upstream on the network by strengthening their ‘know your customer’ (KYC) processes, focusing on incident reduction, and reducing illegal network entry.
• Network heads need to devise innovative measures utilizing fraud analytics on call data and fraud scenarios and implementing third-party tools with automation and machine learning.
The Impact of Telecom Fraud on Operator Revenues
In terms of figures, organizations like the Communications Fraud Control Association (CFCA) have estimated total global telecom revenues to be in the $1.8 trillion region in 2021, with telecom revenue loss due to fraud to be estimated at 2.22%, resulting in $39.89 billion losses. With this in mind, telecom fraud is a major issue for telecom operators.