It makes a lot more sense to proactively fight against fraud rather than to implement a slew of corrective measures after fraud has already hit a network. Advocating such an approach, BICS has launched FraudGuard, a fraud detection and prevention solution delivered as an SaaS (News - Alert) service to carriers and operators, based on a crowdsourcing model.
FraudGuard is equipped with revenue analytics provided by cVidya and is delivered as a fully integrated solution. It is designed to not only provide real-time detection but also to enable a ‘helicopter view’ of fraud trends. It detects fraud by examining the unique traffic patterns that are created within a network. Moreover, its high level of exposure to a wide variety of fraud and market-related risks helps to identify exceptional usage trends within a network.
The BICS community is always alert, the company said, giving operators and carriers a robust means of combatting fraudulent practices before it even hits the network.
Highlighting the advantage of a participatory, crowd-sourcing model, officials noted that the community experiences and insights can be shared across the extensive BICS network and that suspicious activity can be reported by any of its members. As a result, the entire telecom community stands to gain as a whole.
"There is no longer any reason to allow fraud into the business. Once operators acknowledge and accept the gravity of the problem, they can share approaches and solutions with others. In a crowdsourcing model, a community is designed to raise everybody's ability to win the battle against fraud. This innovative and complete solution is based on existing and proven technology from cVidya,” said Jorn Vercamert, head of voice business management, BICS.
Fraud costs businesses billions of dollars, and with fraudsters making things difficult for carriers and operators, BICS’s FraudGuard hopes to throw a wrench in their plans.
Edited by Blaise McNamee