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Leading provider of anti-fraud services for mobile network operator receives awards for Innovation and International Trade

315% growth in overseas earnings in last three years, entering 37 new markets

Leading UK specialist in detecting and eliminating mobile network operator fraud, Revector, has won two prestigious Queen’s Awards for Enterprise. The company has been rewarded with Queen’s Awards for Enterprise in Innovation and in International Trade.

With a 315% growth in overseas earning since 2009, the company has entered 37 new markets in the last three years. Revector has worked with mobile operators in more than 75 countries around the globe helping to reduce and eliminate some of the estimated $58 billion* of fraud and mis-billing on mobile networks.

Initially focussing on combating GSM Gateway or “SIM Box” fraud, the company has enabled mobile network operators to significantly reduce or even eliminate fraud on their networks, saving billions in otherwise lost revenues.

During 2012 Revector has launched a series of new initiatives including its “Locate and Eliminate” service that enables mobile network operators to determine the physical location of fraudsters to a single building or office, enabling authorities to make arrests and seize equipment.

Andy Gent, CEO of Revector, said: “The two Queen’s Awards recognise our commitment to create a global business that is at the forefront of anti-fraud technology. As a British company operating across the world, we have built a reputation for delivering the most effective services on the market and we are delighted to have been recognised in this the Queen’s Diamond Jubilee year.”

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About Revector:

Founded in 2001, Revector creates products and services that enable telecommunications companies to quickly and effectively counter fraud. Working with operators including Vodafone, Bharti Airtel, Hutchison Three, Zain, Digicel, Etisalat, Telenor, Tele2, Tigo, MTS, NTT DoCoMo, Rogers, T-Mobile and Cable & Wireless, Revector’s products have enabled mobile network operators to remove millions of dollars’ worth of fraudulent activity from their networks. To find out more visit www.revector.com

About GSM gateway or SIM box fraud:

SIM box fraud occurs when the cost of terminating national or international calls exceeds the cost of a local mobile to mobile call in a particular country. Individuals and organisations buy multiple SIM cards and sell capacity to terminate calls on the open market. This leads to lost revenues for mobile network operators. SIM box fraud is illegal since those who undertake it are not licensed to provide telecommunications services in the country. Consumers will be unaware that their call is being routed via a SIM box but may experience a reduced quality of call or a reduction in telecommunications services, such as caller line identity.

GSM Gateway/SIM Box Fraud – facts:

• A recent report from Juniper Research reported that mobile network operators were losing $58 billion a year to billing errors and fraud
• Communications Fraud Control Association (CFCA) estimates that in 2011 the cost of SIM Box/GSM Gateway fraud to the telecoms industry was more than $4.5 billion
• 89% of operators surveyed by CFCA said fraud losses had increased or stayed the same since 2008

Media contact:

Chris Bignell or Gary Marshall
XL Communications
Chris@xl-comms.com / Gary@xl-comms.com
Tel: +44 7834 020460 / +44 7733 224654

This press release was distributed by ResponseSource Press Release Wire on behalf of XL Communications in the following categories: Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.