All of the hard work and dedication over the past year by our operations and sales teams have paid off. The GLF has published its fifth annual report on international wholesale telecoms fraud and we are proud to say that IDT global is one of the 22 companies globally that is attested to be compliant with the GLF Code of Conduct to prevent fraud.
The attestation process as laid out back in 2018, gives clear guidelines on what to look for in fraud and some best practices for operators on combating the fraudulent traffic. As you can see by the low number of carriers chosen as compliant, there is still quite a lot of work to do industry wide to get ahead of the curve.
While the numbers are small, it is still good to see some very big names in the industry putting in an effort to curb this growing problem in telecommunications.
If you would like to find out more about the GLF and their efforts to combat fraud in the industry, download their free comprehensive 2022 report at: https://content.comms.euromoneyplc.com/GLF-2022-activities_GLF-Fraud-2022.html
Here are just a few of the highlights that can be found in this report:
- 50% of survey respondents see an increase in the volume and impact of fraudulent voice traffic versus the previous year.
- IRSF was listed as the number 1 form of Voice Fraud, followed in a close second by Missed Call / Wangiri Fraud.
- In general, while the feeling is Voice fraud is getting more sophisticated, the feeling is most companies are making good progress towards combating it.
- As for Messaging, 35% of respondents observed an increase in the impact of fraudulent messaging in the last 12 months.
- SMS Phishing or Smishing was the higher form of Fraud reported by far followed by Originator Spoofing.
- A2P SMS fraud as a whole is not considered as big an impact to the business as a whole, partly due to the high mitigation strategies many operators already have in place.