Mobile anti-fraud and revenue protection specialist Revector today announces it has now detected and eliminated mobile fraud in more than 100 countries around the world.
UK-based Revector has helped mobile network operators regain more than an estimated $1 billion of revenues previously lost to fraud and mis-billing. In addition to eliminating fraud, network operators using Revector technology are also protecting revenues on an ongoing basis, increasing network security and analysing and optimising network performance.
The Communications Fraud Control Association (CFCA) recently reported that its members had experienced some $38.1 billion losses from fraud in 2015, representing almost two percent of global revenues. Almost half of this vast figure was due to issues around international revenue share or interconnect bypass (SIM Box fraud) – two of the primary detection and elimination services offered by Revector – demonstrating the vast size of the issue faced by operators.
“Revector has helped mobile network operators regain more than an estimated $1 billion of revenues previously lost to fraud”
Andy Gent, CEO and Founder of Revector comments: “Any industry that is losing $38 billion in revenue to fraud needs to find immediate and effective means to continuously monitor and eradicate fraudulent activity.”
Andy Gent continues: “An increasing number of network operators are recognising the threat and growing complexity of mobile fraud, as fraudsters around the world continue to exploit vulnerabilities and poor security in mobile networks.”
“Furthermore SIM Box fraud is often carried out by criminal gangs that are using revenues to supplement other criminal activity. Mobile operators that do not take fraud on their network seriously are impacting not only their own revenues but the peace and stability of the countries they are operating in.”
Revector would like to thank all clients past and present for their continued efforts in combatting fraud worldwide.