At TeleSign, optimizing our ability to predict, detect, and respond to fraud for our customers continues to be the number one priority for our data and intelligence products team. With our recent acquisition by BICS, a leading international communications enabler, we are now able to leverage big telco data to enhance the fraud risk-scoring algorithms used in our Score API.
BICSs Global Telco Fraud Consortium
TeleSign Score–an API that delivers fraud reputation scoring based on phone number/email address/IP address intelligence, traffic patterns, machine learning and TeleBureau® data–now has access to BICS’ Global Telco Fraud Data Consortium. The Telco Fraud Data Consortium is a global crowdsourced telco incidents database of suspicious network activity. In addition to its existing data points and algorithms, TeleSign Score also analyzes this new global fraud data in real-time when calculating its risk reputation scoring. This additional data intelligence will further enhance fraud risk-scoring algorithms based on specific use cases and industries. It’s a big-win for Score customers.
Analyzing Telco Fraud Data
The enormous amount of voice traffic carried by the BICS wholesale network offers broad-based insights into fraudulent voice practices, given the traffic patterns they create and the exceptions to routine usage that become evident in such an environment. The high level of exposure to a wide variety of fraud and market-related risks presents more opportunities within the network to identify exceptional usage trends. The industry is convinced that proactivity is essential in the fight against fraud and it is no longer acceptable to simply implement measures after fraud has already hit the network.
Using the new telco fraud data, if a phone number is associated to reported suspicious network activity, a recent fraud incident or identified as International Revenue Share Fraud (IRSF), TeleSign Score will return a high-risk score along with a recommendation to block the phone number via the API.
The Importance of Fraud Risk Scoring at Account Registration
At an alarming rate, fraudsters are creating online and mobile application accounts that result in spam, phishing attacks, promo abuse and other costly fraud. Through the registration of fake accounts, fraudsters can attack legitimate users and damage a brand’s value, revenue and growth. Effectively identifying and blocking these harmful users at account registration using TeleSign Score, while streamlining the process for authentic and valuable users, has become critical.
Businesses report that as much as 10% of their user base is fake. If account-based fraud is not addressed, companies will suffer reductions in: user base trust, user growth, usage, revenue per user, and the value of their ecosystem.
Companies must be able to identify fraudulent users. With the BICS/ TeleSign acquisition and addition of global telco fraud consortium data to our Score API, doing so just got a lot easier.
Not familiar with TeleSign Score? Learn more at: https://www.telesign.com/products/score/