India is emerging as one of the top 5 hot spots (destination countries) for telecom fraud as per the CFCA Fraud survey 2009.
The immediate concern and issues that telecom operators foresee due to fraudulent activity is loss of revenue, estimation of the loss of revenue is in the range of 1-5 {af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} of revenue. The resources required to fight fraudulent activity can be significant as it requires investment in equipment, high end software, manpower, upgrading of skill sets, training, etc.
Considering the investment cost, companies live with a choice, making an allowance of losses as acceptable risk or have an intense strategic approach to managing frauds – internal as well as external
So why is it important for telecom companies to have a proactive fraud management strategy? The effect of fraud can be far reaching. On a macro perspective and on a country specific front, hijacked networks or unauthorized use of telecom infrastructure can be used for subversive, insurgency and terrorist activity. At the customer level fraud can result in services dissatisfaction – for individual as well corporate users along with potential monetary and business loss that they may suffer due to the wide ranging acts and sophistication of the fraudster.
And with the rapid growth and penetration of mobile service in urban and especially in rural areas, new applications being launched such as m-banking, m-health, 3G services, etc. any large scale fraudulent activity will affect the end customer leading to loss of confidence in services model, non-considering the unknown backlash and wave effect of the media.
Aimed at generating new thoughts, ideas and solutions to proactively manage telecom fraud at an organisational level and collaboratively as an industry through a series of interactive discussions, opinions, thought leadership presentation and shared experiences, Cerebral Business is organising India’s First comprehensive meet, TFM 2010 Telecom Fraud Management and Revenue Assurance on 19th and 20th November at the Hotel Lalit in New Delhi.
The conference will feature an interactive and innovative feedback session which will help the industry in evaluating the most pressing issues and address these concerns in real time. Featuring well known industry experts consisting of government, regulatory, senior telecom executives including relevant solutions and service providers, the forum is definitely one of the first initiatives in India to discuss strategies on fight telecom fraud.
Key discussion include
- Analysing the real impact of telecom fraud on operators, customers, partners and citizens
- Evolving fraud risks and future fraud in new product launches, NGN and 3G services
- Creating an action response plan for businesses and consumer hit by phone fraud
- Assessing preparedness and responsiveness to telecom fraud
- What are the best techniques to trace- criminals when they disappear, by using advanced techniques
- Mitigating strategies for fighting Internal fraud
The conference will also feature an advance level, one day Masterclass on Security Threats and Electronic Crimes in Telecom infrastructures & Industrial espionage and intelligence countermeasures
Led by Mr. Michalis Mavis, who is the founder and first Chairman of EFTA (Hellenic Fraud Forum), that was established in the year 2000, by the major Telecom Operators in Greece with the aim to fight telecommunications fraud and electronic crime amongst its members.
This exclusive Masterclass will give participants insights on how to detect methods used by criminal groups to hide their identity and location as well as countermeasures for increasingly sophisticated
industrial espionage, intelligence and spying networks.
