Detect and Mitigate Automated Telephony Fraud with Robust Analytics and Defense
Telephony fraudsters have made insidious advancements in the past five years. In short, fraudsters have developed automated bot-driven methods of defrauding telcos. While all telephony companies have exposure, freemium telephony companies (the fastest growing segment of the $83 billion market) are especially vulnerable due to a general lack of automated threat protection.
How much revenue are you losing to telephony fraud?
An estimated 1.7% of telephony revenue is defrauded, with about 10% of that being bot-driven. The Open Web Application Security Project (www.OWASP.org) has identified the leading automated web app threats to the telephony industry as:
- Account Creation – Create multiple accounts for subsequent misuse
- Credential Cracking and Credential Stuffing – Identify valid login credentials by trying different values for usernames and passwords
Transaction and Payment Fraud
- Carding – Multiple payment authorization attempts used to verify the validity of bulk stolen payment card data
- Card Cracking – Identify missing start/expiration dates and security codes for stolen payment card data by trying different values
- Cashing Out – Buy goods or obtain cash utilizing validated stolen payment card or other user account data
- Token Cracking – Mass enumeration of coupon numbers, promo codes, discount tokens, etc.