“Committing communications fraud is serious business, and, to borrow a phrase from a major motion picture: ‘business is a-booming’.” ˜ So says Stratecast report Using Big Data to Put a Big Hurt on Communications Fraud authored by Jeff Cotrupe. The Communications Fraud Control Association (CFCA), the de facto global authority on communications fraud, provided figures to Jeff and Stratecast indicating that communications fraud represents an $18.4 billion risk via crimes such as compromised corporate phone and voicemail systems; subscription and identity theft; credit card fraud; and calling scams known in the industry as international revenue share and bypass fraud.
Stratecast client Lavastorm, which uses Big Data to help communications service providers improve their businesses through fraud control and many other measures, is making Cotrupe’s Stratecast report available for download here. Lavastorm is featuring the report alongside other analysis from fellow technology research leaders Gartner, where Cotrupe formerly served as research director, and from Forrester.
˜ Inglourious Basterds (2009, Universal Pictures). One of the author’s favorite lines from any film, ever, uttered by one of his favorite actors, Brad Pitt, as Lieutenant Aldo Raine.
Stratecast publishes Jeff Cotrupe’s latest Stratecast Perspectives & Insights for Executives (SPIE) report
Stratecast has published Jeff Cotrupe’s latest research report, Using Big Data to Put a Big Hurt on Communications Fraud. The opening section of the report introduces the topic this way:
As the use of smart devices proliferates around the globe, communications service providers (CSPs) are dining on huge new revenue opportunities—and an equal helping of financial risk. The Communications Fraud Control Association (CFCA)* …defines it as the use of telecommunications products or services without intention to pay. Committing communications fraud is serious business, and to borrow a phrase from a major motion picture, “business is a-booming.”** The CFCA’s most recent figures indicate that communications fraud represents an $18.4 billion risk.
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