Telecom Fraud

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What is Telecom Fraud?

Telecom fraud put into simple words is any kind of activity designed to abuse telecommunications products and services to gain an advantage over telecommunications companies through deception (fraudulent practices) or strategic attacks. Telecom fraud includes landlines, mobile phones, cloud systems and on-premise PBX systems.

Deliverables 

Telecommunications fraud is constantly evolving. However, here is a list of notable trends we observed in telecom fraud which are on the rise in 2022 : Fake and synthetic IDs: Fraudsters manipulate ID documents by combining information with a decoy identity to create a synthetic ID to bypass detection systems. Detection of these IDs is more formidable since parts of synthetic IDs are legitimate. Virtual SIM cards: Even though eSIMs – virtual SIM cards – are better protected from cloning or stealing, virtual SIMs are still prone to malware and social engineering attacks. Social engineering attacks: With the pandemic greatly amplifying the volume and complexity of phishing attacks, more personalized instances such as CEO fraud and spear-phishing attempts are on the rise. Be it via SMS, calls, social engineering, or even using deep fake technology, social engineering attacks are on the rise to steal and misuse secure data.

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