Revector has helped mobile network operators regain more than an estimated $1 billion of revenues previously lost to fraud
5th November 2015: Mobile anti-fraud and revenue protection specialist Revector today announces it has now detected and eliminated mobile fraud in more than 100 countries around the world.
UK-based Revector has helped mobile network operators regain more than an estimated $1 billion of revenues previously lost to fraud and mis-billing. In addition to eliminating fraud, network operators using Revector technology are also protecting revenues on an ongoing basis, increasing network security and analysing and optimising network performance.
The Communications Fraud Control Association (CFCA) recently reported that its members had experienced some $38.1 billion losses from fraud in 2015, representing almost two percent of global revenues. Almost half of this vast figure was due to issues around international revenue share or interconnect bypass (SIM Box fraud) – two of the primary detection and elimination services offered by Revector – demonstrating the vast size of the issue faced by operators.
Andy Gent, CEO and Founder of Revector comments: “Any industry that is losing $38 billion in revenue to fraud needs to find immediate and effective means to continuously monitor and eradicate fraudulent activity.”
Andy Gent continues: “An increasing number of network operators are recognising the threat and growing complexity of mobile fraud, as fraudsters around the world continue to exploit vulnerabilities and poor security in mobile networks.”
“Fraud against mobile networks is not a victimless crime. As mobile service providers struggle to cope with the volumes of data being shared across complex networks, every dollar lost to fraud impacts networks operators’ ability to deliver an improved customer service.”
“Furthermore SIM Box fraud is often carried out by criminal gangs that are using revenues to supplement other criminal activity. Mobile operators that do not take fraud on their network seriously are impacting not only their own revenues but the peace and stability of the countries they are operating in.”
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
Notes for editors on fraud techniques
Bypass, including interconnect and GSM gateway or 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.
Tel: +44 7834 020460
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.