New networks and services heighten risk of fraud

At the recent Asia Pacific (APAC) WeDo User Group held in Kuala Lumpur, more than 100 telecommunications professionals converged to learn about the latest hidden risk of fraud that communication service providers are facing.

The APAC event is part of WeDo Technologies’ regional series of user group events, which culminates in the global User Group held in Portugal yearly. Guest speakers at the APAC event included representatives from Maxis, Robi Axiata and Digi Telecommunications.

The event highlighted the risks associated with the digital transformation happening across the telecom industry. The rise of video and mobile content, and new networks and services such as 5G, IoT, and NFV, opens the door to new threats that communications service providers need to urgently address and mitigate.

In addition, WeDo Technologies warned that fraudsters are increasing their pace in devising new ways to defraud telecom operators. This will only intensify as billions of IoT devices and massive amounts of data hit their networks.

“Legacy fraud management systems will not have the scale, or the sophistication, required to detect abnormal trends and identify potential fraud activity in the 5G era. Artificial Intelligence (AI) and Machine Learning technologies will be the cornerstone to enabling operators to detect fraud faster and more efficiently, as well as identify and target more complex risks. We are making significant investments on new capabilities, such as AI-powered adaptive thresholds and advanced case resolution, which will be critical to managing the multitude of risks that will be the new normal with 5G,” said Bernardo Galvão Lucas, Chief Strategy and Marketing Officer, WeDo Technologies.

In addition to AI and Machine Learning capabilities, WeDo also reiterated how cloud-based systems can help expedite the modernization of an operator’s fraud management solution. WeDo’s RAID.Cloud enables operators to address today’s fraudulent activity faster, with more flexibility, and with the latest advancements in detection methods. 

By leveraging the cloud, WeDo’s RAID.Cloud saves integration time and reduces costs with its self-service and user friendly, on-the-spot onboarding process. It is supported by the development of several cutting-edge detection applications, providing digital profiling, customer experience and crowdsourced service assurance analytics.

Ultimately, RAID.Cloud enables operators to address today’s top fraudulent activities, including roaming, bypass and IRSF fraud, and equip operators to identify future areas of risk and revenue leakage.

Founded in 2001, WeDo Technologies is the global market leader in Revenue Assurance and Fraud Management through Risk Management software solutions. The company provides software and expert consultancy to Telecom Operators and Communication Service Providers worldwide.

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