BICS launches crowd-sourcing model for fraud detection

BICS, the strategic international wholesale partner to over 400 mobile operators worldwide, today announced the launch of FraudGuard, a fraud detection and prevention solution based on crowdsourcing model.

This approach creates an active community of telecoms companies which as a whole gains insights on suspicious activities reported by BICS or any of its members. The platform is delivered as a SaaS service to carriers and operators.

FraudGuard gives operators and carriers a robust means of combatting fraudulent practices in the telecom world and increasing effectiveness from the participatory nature of the crowd sourcing arrangement. The product is equipped with revenue analytics provided by cVidya to deliver a fully integrated solution to help carriers combat telecoms fraud.

FraudGuard’s end-to-end surveillance capabilities across the network offer real-time detection and optimum coverage of a wide range of fraud types. Dedicated packages within the solution are targeted at the increasingly sophisticated fraud practices to which telecoms is subjected, including PBX hacking, IRSF, Artificial Inflation of Traffic, and Wangiri.

FraudGuard is unique in its ability to detect fraud by leveraging BICS’ size and scale, analyzing BICS’ global traffic in near real time. This approach creates an aggregated ‘helicopter view’ on fraud trends and provides FraudGuard users with insights to stop fraud before it reaches a given customer network.

Jorn Vercamert, head, Voice Business Management, BICS said, “The enormous amount of voice traffic carried by the BICS wholesale network offers broad-based insights into fraudulent voice practices given the traffic patterns they create and the exceptions to routine usage that become evident in such an environment. Its high level of exposure to a wide variety of fraud and market-related risks presents more opportunity within the network to identify exceptional usage trends. The industry is convinced that proactivity is essential in the fight against fraud and it is no longer acceptable simply to implement measures only after fraud has hit the network.”

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