Fraud in mobile networks
Mark Yelland · Computer Fraud & Security · 2013
Most people think about fraud and security in the mobile industry as having their phone stolen or hacked. However there is an underground industry that Juniper Research believes is worth $58bn a year in revenues that are being lost to fraud and lack of effective revenue protection. 1 This dwarfs issues around personal security and outlines an immense problem from which mobile network operators suffer, but often struggle to recognise. Most people think about fraud and security in the mobile industry as having their phone stolen or hacked. However there is an underground industry that Juniper Research believes is worth $58bn a year in revenues that are being lost to fraud and lack of effective revenue protection. This is an immense problem for mobile network operators, but which they often struggle to recognise. Fraudsters exploiting weaknesses in mobile networks operate as businesses, often providing services to other fraudsters in a chain of fraud. The combining of multiple fraud practices makes detection difficult and prevention harder. Mark Yelland of Revector details how these frauds work and what can be done about them.