Fraud Management
What we do
The growth of IoT is estimated to reach 24 billion devices by 2030. As the IoT market increases, the size of the attack surface and the potential to commit more fraud will grow. Every connected IoT device could potentially have some kind of vulnerability, that could be exploited by hackers to gain unauthorised access to a victim's network. IoT devices are now becoming the weakest link in the cyber security chain, and the preferred point-of-entry by hackers.
The Risk and Assurance Group's latest survey (2020) on fraudulent losses within the telecoms industry, it highlighted that operators are already reporting an average loss of 2.59% of their revenue p.a. and also customer losses amounting to an equivalent of 2.8% of revenue. However, with the size of the attack surface set to increase, these fraudulent losses will grow even higher over the coming years.
Our digital risk management consultants can support you in the following areas:
- IoT security
- PCI fraud
- Anti-money laundering (AML)
- Wangiri (one ring) detection and blocking solutions
- Crypto-currency tracking
- FMS vendor evaluation
- International premium rate service fraud
- GSM gateway / bypass detection