Whether in the form of a subscriber attempting to defraud the telephone company, the telephone company attempting to defraud a subscriber, or a third party attempting to defraud either of them, fraud has been a part of the telephone system almost from the beginning.
A carrier's profit is significantly impacted by billing fraud.
Communications Fraud Communications fraud is the use of telecommunications products or services without intention to pay. Many operators have increased measures to minimize fraud and reduce their losses. Communications operators tend to keep their actual loss figures and plans for corrective measures confidential.CFCA. "CFCA's 2011 Worldwide Telecom Fraud Survey". CFCA. http://cfca.org/pdf/survey/Global%20Fraud_Loss_Survey2011.pdf. Retrieved 5 December 2011.
According to the survey the 2011 top 5 fraud loss categories reported by operators were:CFCA. "CFCA's 2011 Worldwide Telecom Fraud Survey". CFCA. http://cfca.org/pdf/survey/Global%20Fraud_Loss_Survey2011.pdf. Retrieved 5 December 2011.
- $4.96 Billion (USD) – Compromised PBX/Voicemail Systems
- $4.32 Billion (USD) – Subscription/Identity Theft
- $3.84 Billion (USD) – International Revenue Share Fraud
- $2.88 Billion (USD) – By-Pass Fraud
- $2.40 Billion (USD) – Credit Card Fraud
Famous quotes containing the words phone and/or fraud:
“Nobody wants to phone me,
Even collect.”
—Cole Porter (1893–1964)
“Things gained through unjust fraud are never secure.”
—Sophocles (497–406/5 B.C.)