Application fraud is committed when fraudsters provide incomplete, inaccurate, fabricated or stolen information with an intent to defraud the service provider.
What an incredible year it has been. From going live with Vodafone India – largest installation to date processing over 5 billion call records to protect Vodafone customer from fraud – to winning the AnthaPrerana 2015 Competition (a TiE Bangalore initiative for start-ups). It didn’t end there. We were also part of the Canada India […]
The fascinating story about the arrest of Noor Aziz Uddin, one of FBI’s most wanted cybercriminal for international phone fraud came to a quiet end on 14 February in the outskirts of Karachi. It is said that Uddin and his accomplice had amassed a wealth of over $50 million in a short span of 4 […]
Back in 2010, 23 February to be precise, FRS Labs existed only on paper. It had no contracts, no clients, no office, no products and no employees. A non-binding and casual chat over coffee to jointly develop a product with Vodafone was all it took to get started on this journey. Turning the clock forward […]
What is application fraud? Application fraud is committed when fraudsters provide incomplete, inaccurate, fabricated or stolen information with an intent to defraud the service provider. Application fraud can be classified as ‘first party fraud’: those deliberately providing inaccurate or fabricated information, or ‘third party fraud’: those that are stolen from another citizen (Identity Theft) or […]
Challenge: Six leading multi-national corporations – all of whom are in the fortune 500 list – occupy an impressive multi occupancy office complex in Ireland. There are, on an average, 250 visitors each day, to meet hundreds of hosts, seated at different locations in the vast office complex. There is a single receptionist and a […]
Subscription Fraud Overview: Subscription fraud, despite the many controls in place, is still vicious and widespread. According to multiple CFCA surveys, virtually every service provider is affected by Subscription Fraud. The impact of subscription fraud does not stop with revenue loss alone. The effects could be catastrophic in terms of escalating complaints, poor customer experience, […]
Premium Rate Service Fraud and International Revenue Share Fraud – Note the difference to accurately detect and prevent them.
Premium Rate Service Fraud and IRSF together account for $6.5 billion in fraud losses, according to the CFCA fraud loss survey 2013. Both PRS Fraud and IRSF are similar in nature – in both cases fraudsters inflate traffic to certain numbers or number ranges which attract higher settlement payments from the operators – however, there […]
Calls to premium rate numbers are lucrative than simply reselling the phone suggests a report by Daily Mail UK. The report further claims that even the best of the phones don’t fetch a lot of money in the black market. However, there are bigger gains to be made through premium rate fraud. Over 300,000 phones […]
In the most recent CFCA fraud loss survey, International Revenue Share Fraud (IRSF) has yet again emerged as the top 5 fraud loss type globally. However, compared to the results in 2011, IRSF fraud has occupied the top spot and is also the top fraud threat emerging globally, suggesting that the threat of IRSF is […]