By Eva Jiménez, Head of International Voice Business.
Madrid, 07-06-2022 -- Digitalisation brings new opportunities but also new risks, as fraudsters find new ways to profit to the detriment of customers. Customers are now no longer surprised to be contacted by companies having become accustomed to this type of interaction with companies as a result of the acceleration of digitalisation, one of the consequences of the pandemic.
"It is vital for companies to have "live" anti-fraud tools that can evolve to fight against these new types of fraud that emerge in the changing context to provide a secure and trustworthy service to the customer.
Our mission: prioritize fight against fraud
According to Communications Fraud Control Association(CFCA) in 2021, total global telecom revenues are estimated to be approximately USD 1.8 Trillion. The total amount of telecom revenue loss due to fraud is estimated to be 2.22% of revenues or $39.89 Billion. Compared to 2019, fraud losses increased 28% or approximately USD 11.6 Billion
Telefónica is increasingly challenged by all types of fraud, due to its geographical diversity, different market scenarios and leading market position. To address all existing fraud cases, Telefónica Global Solutions (TGS) developed TUKU Antifraud Management System (FMS) leveraging the experience of the Telefonica Group.
TUKU FMS was recognised as the Best Antifraud Innovation at the Global Carrier Awards in 2020, and since then the solution has continued to evolve to address the new types of frauds linked to increased digitalisation.
TGS is also one of the first international carriers to be certified as compliant with the Global Leaders Forum’s Code of Conduct (GFL) to prevent Fraud in international telecommunications.
We are committed to innovation and offering the highest standards for our customers, applying anti-fraud services to all our wholesale products. Each year we deploy new evolutions of our own anti-fraud services covering International Voice and SIP Trunk services, with the goal to detect new fraud models.
Whilst fraud criminal sophistication diversified and intensified during COVID-19, we have been able to successfully overcome this important challenge thanks to the constant enhancements made to our anti-fraud solution, such as adding new functionalities to mitigate the growing phenomenon of Identity Impersonation (Robocall and CLI spoofing).
TGS has also enrolled in the US’ Federal Communications Commission’s Robocall Mitigation Database to address the Stir/Shaken ruling impacting the global voice industry, and new features to authenticate the identity of the origin customer are expected to be completed by the end of this year.
About TUKU FMS
Through TUKU Fraud Management System, a fully in-house solution, working 24/7 in near real time, Telefónica is able to prevent, detect and take action against fraud in outgoing traffic streams (IRSF, avoids 100% IRSF caused by Wangiri), as well as in the incoming traffic streams (Bypass, FAS, hijacking and CLI manipulation).
From a security perspective, TUKU FMS also safeguards the network by blocking any spam attacks.
The TUKU FMS platform is a web solution, hosted in the Telefónica Cloud, 100% configurable by the customer. It applies Big Data Methodology in the initial identification of traffic, combining relational and non-relational storage. It also offers the possibility of bidirectional APIs and incorporates machine learning in specific features. The tool also automatically calculates, on a daily basis, the potential economic loss per customer of not counteracting fraud.
By using our tool customers have experienced a 95% fraud reduction
VOICE FRAUD MANAGEMENT – TUKU
Our in-house solution TUKU FMS can detect, prevent and take action on potential fraud in both incoming and outgoing voice traffic streams.
If you have any questions please contact us through the link below and we’ll be happy to solve all your doubts.
We will be communicating soon.