Research Shows IoT to Be the Biggest Fraud Threat for Telecommunications Companies

SOURCE: PRWeb

WeDo Technologies: Best risk management measures to minimize exposure revealed.

WeDo Technologies, an industry leader in revenue assurance and fraud management, has revealed the findings of their recent survey which found that that 57% of Telecom Operators see the Internet of Things (IoT) as the industry’s biggest fraud threat.

Conducted at WeDo’s Worldwide User Group Americas event held in late October, the survey asked more than 100 participants, representing 25 telecommunications operators from across the world to identify the main threats to their business.

The survey found that the Internet of Things (57%) and Internet Protocol Networks (26%) are the disruptive technologies that pose the greatest source of risks to the industry. According to the survey respondents, the threats mainly affect the IT (39%), Networks and Engineering (39%) and Legal (10%) departments that deal daily with the challenges stemming from the operators’ Digital Transformation.

When questioned about the measures to be taken to minimize or avoid exposure to fraud threats, 47% of operators agreed that adopting a model against Subscription Fraud, High Usage Fraud of Service Abuse (27%) and Bypass Fraud (17%) were the best risk management solutions. Subscription Fraud continues to be the main method of fraud affecting the telecommunications industry, which, thanks to its rapid growth, represents significant annual losses for operators. Therefore, WeDo advises that it is essential to invest in robust and intelligent solutions against this type of threats.

Digital transformation in the communications industry will enable operators to be more agile and competitive. However, as this survey confirms, these new technologies also bring with them a set of challenges and threats that need to be addressed in an effective and efficient way, especially at a time when the Internet allows an instant massification of everything,” explains Rui Paiva, CEO of WeDo Technologies.

“It is with these threats in mind that WeDo develops robust and flexible solutions that focused on preventing and detecting fraud in real time and can instantly block a call or connectivity session whenever there is an inherent risk. It is with this confidence that our customers, which include the top telecom operators in the world, keep their subscribers protected and free from malicious threat – and therefore maintain a satisfied and loyal customer base.”

For more information on the findings of the survey, visit [ https://web.wedotechnologies.com/infographic-can-you-see-the-hidden-risks-to-your-business .

 

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