Is OTP inflation fraud your secret enemy? How to detect and stop this hidden risk

Is OTP inflation fraud your secret enemy? How to detect and stop this hidden risk

Today, business often takes place in the digital realm. With the shift to ecommerce and the need for fast digital identity verification, fraudsters have learned how to game the system and siphon money from unsuspecting companies. 

One technique fraudsters use is toll fraud (or International Revenue Share Fraud (IRSF)). According to the Communications Fraud Control Association (CFCA)’s 2019 Global Fraud Loss Survey, toll fraud costs businesses over $5B per year.  

To make matters worse, there’s a new fraud type that’s harder to detect, and even harder to fight. This novel fraud, OTP (one-time passcode) inflation, occurs when attackers exploit a phone number input field to receive a one-time passcode, app download link, or other information via SMS. Multiple SMS messages are sent to a range of numbers at once, generating revenue for the attackers. 

Watch our webinar to learn: 

• What toll fraud is and how OTP inflation was born.
• Why OTP inflation fraud is on the rise.
• What you can do to detect and tackle this type of fraud in your business.
• How to protect against future attacks .

With the right security measures in place, you can keep you and your users safe while building trust, loyalty, and revenue. Join us to learn how.