Smarter, Faster Fraud Decisions for Telecommunications & Communications
According to the Communications Fraud Control Association, fraud losses cost the telecommunications industry over $28 billion globally. Subscription fraud, where fraudsters use stolen or synthetic identities to apply for new services and purchase new equipment with no intention to pay, continues to be the number one fraud method.
Manual checks by sales associates or online identity verification services offer some deterrence but are insufficient at identifying whether or not an identity is stolen or fake. By the time fraud is discovered, it’s usually too late: the fraudster has already disappeared with a high-end smartphone which they have resold on the black market.
Efficiently verify identity and detect fraud when a customer applies for financing or modifies an account.