An overview of Bandwidth’s approach to fighting telecom fraud

Telecom fraud is a significant problem, costing the industry $28.3 billion in 2019 alone. Fraudsters exploit vulnerable networks and target people worldwide to make money. The top five types of telecom fraud are International Revenue Share Fraud (IRSF), Arbitrage, Interconnect Bypass, Domestic Premium Rate Service, and Traffic Pumping. Telecom fraud impacts businesses financially, harms their reputation, and can lead to customer loss. To protect against telecom fraud, businesses should set strong passwords, improve security measures, utilize enterprise-grade SBCs, implement two-factor authentication, and educate customers on best practices. Bandwidth takes a three-pronged approach to combating telecom fraud: prevention through education, detection using automated tools, and mitigation by blocking unlawful calls, filtering spam, disconnecting fraudulent numbers, and working with customers to identify and address fraudulent activity.