Swisscom deploys BICS’ FraudGuard
BICS has announced its global crowdsourcing-based fraud prevention platform, FraudGuard, has been deployed by Swisscom.
Swisscom has chosen the cloud-based solution to proactively block fraudulent call and SMS attempts in real-time, helping to secure its revenue streams.
“Safeguarding our revenue from fraudulent activity and protecting our customers’ user experience is a major priority at Swisscom,” said Reto Meier at Swisscom. “Reinforcing the focus on fraud protection, Swisscom has chosen the innovative FraudGuard service from its long-standing partner BICS’ to help block fraudulent international call attempts, in and out of our network, proactively as an additional benefit to the other functionalities of the solution.”
Earlier this year, BICS announced the platform had detected and blocked more than 10 million fraudulent call attempts on its customers’ networks during the first quarter of 2016. This figure is part of more than 540 million fraudulent call attempts blocked by FraudGuard in total and reduces the estimated €38.1 billion which is lost to fraud in the global telecommunications industry each year, according to the 2015 levels seen by the Communications Fraud Control Association (CFCA).
FraudGuard enables wireless operators, such as Swisscom, to proactively shield themselves and their customers from criminal activity in the telecoms industry, including but not limited to International Revenue Share Fraud (IRSF), PBX hacking and Wangiri.
Katia Gonzalez, head of fraud prevention operations and services at BICS, added: “The introduction of all-IP networks may have accelerated the speed in which fraud attacks aimed at the telecoms industry can be carried out, but if network operators are prepared to work together and share knowledge of incidents as they incur, a preventative course of action can be taken.”