Swisscom has signed up to use a crowdsourcing-based fraud prevention platform designed to secure revenue streams and prevent network fraud.

The operator said the solution, provided by wholesaler BICS, would help to block fraudulent international call attempts in particular.

FraudGuard works by crowdsourcing details of suspicious network activity across BICS’ footprint, which spans 112 access points-of-presence around the world.

The solution detected and blocked more than 10 million fraudulent call attempts on customer networks during the first quarter of 2016, according to BICS.

The company, which is part owned by Belgium’s Proximus, cited data from The Communications Fraud Control Association, which claimed that the telecoms industry loses approximately €38 billion to fraud every year.

Katia Gonzalez, Head of Fraud Prevention Operations and Services at BICS, said: “The introduction of all-IP networks may have accelerated the speed in which fraud attacks aimed at the telecoms industry can be carried out, but if network operators are prepared to work together and share knowledge of incidents as they incur, a preventative course of action can be taken.”

Security is front of mind at Swisscom, which launched voice recognition security software for its call centre enquiries last month in a bid to safeguard customer data.

The operator’s Head of Fraud Management Reto Meier said: “Safeguarding our revenue from fraudulent activity and protecting our customers’ user experience is a major priority at Swisscom.”

The company saw revenues rise 0.7 percent year-on-year to CHF2.9 billion (€2.67 billion) in the three months to June.

More News

Wind Tre eyes digital services with Matrixx platform Wind Tre eyes digital services with Matrixx platform Wind Tre is the latest European operator to tap Matrixx Software for its digital commerce platform. More detail
Former Telia CEO Nyberg is one of three indicted over Uzbekistan fraud scandal Former Telia CEO Nyberg is one of three indicted over Uzbekistan fraud scandal The former CEO of Telia and two execs from its Eurasia division have been indicted over the fraud scandal that has cost it $965 million. More detail
Deutsche Telekom and Proximus back enterprise-focused start-ups Deutsche Telekom and Proximus back enterprise-focused start-ups Deutsche Telekom and Proximus are investing in a chatbot and an entrepreneur community as they look to back emerging businesses in their home markets. More detail
Deutsche Telekom dips toe into content production with new French farce Deutsche Telekom dips toe into content production with new French farce Germans "invading" a French village to save it from bankruptcy is the unlikely setting for Deutsche Telekom's first foray into content production. More detail
Telia settles Uzbek corruption case for $965 million, three former employees to be prosecuted Telia settles Uzbek corruption case for $965 million, three former employees to be prosecuted Telia will pay just shy of $1 billion to settle a corruption investigation into its opco in Uzbekistan, as three former employees face further charges from the Swedish Prosecution Authority. More detail
    

@eurocomms