Dispelling the top 5 myths about telecom fraud

Telecom fraud is a significant issue for both providers and customers, costing $28.3 billion in 2019 alone. Debunking common myths about telecom fraud can help improve prevention efforts. Myth #1 suggests that smaller providers are not targeted by fraudsters, but any provider can be at risk. Myth #2 claims that only communication platforms with embedded voice calling solutions are vulnerable to fraud, but all systems that can be hacked are susceptible. Myth #3 asserts that telecom fraud is limited to international calling, but domestic premium rate service and toll-free fraud also occur. Myth #4 suggests that STIR/SHAKEN will prevent all forms of telecom fraud, but it only verifies the owner of a telephone number. Finally, Myth #5 claims there's nothing providers can do to prevent telecom fraud, but implementing security features and working with a proactive provider can help mitigate risks.

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