Recent surveys on fraud such as the Annual Fraud Indicator highlight how fraud is still a major issue for CSP's with 89% of the respondents stating that fraud losses had increased or stayed the same within their own organizations year on year. The headline figure for the industry extrapolated from the results of the survey show an average estimated 1.88% loss of revenue to fraud.
Many smaller tier 2 and 3 CSP's, new entrants and those in emerging markets have reported losses of between 4-6% of revenues from fraud, figures which can have a significant impact on a smaller CSP trying to maximise profits and their growth potential. It is known that Fraudsters will often target smaller CSP's, knowing that their internal resources, processes and fraud management system are generally not as robust and effective as in most larger operators, and consequently allowing telecom frauds to continue longer to maximise their profits.
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