Back in 2010, 23 February to be precise, FRS Labs existed only on paper. It had no contracts, no clients, no office, no products and no employees. A non-binding and casual chat over coffee to jointly develop a product with Vodafone was all it took to get started on this journey. Turning the clock forward […]
Application Fraud
What is application fraud? Application fraud is committed when fraudsters provide incomplete, inaccurate, fabricated or stolen information with an intent to defraud the service provider. Application fraud can be classified as ‘first party fraud’: those deliberately providing inaccurate or fabricated information, or ‘third party fraud’: those that are stolen from another citizen (Identity Theft) or […]
Visitor Access System – A case study
Challenge: Six leading multi-national corporations – all of whom are in the fortune 500 list – occupy an impressive multi occupancy office complex in Ireland. There are, on an average, 250 visitors each day, to meet hundreds of hosts, seated at different locations in the vast office complex. There is a single receptionist and a […]
Subscription Fraud – Control this and you can control your fraud losses.
Subscription Fraud Overview: Subscription fraud, despite the many controls in place, is still vicious and widespread. According to multiple CFCA surveys, virtually every service provider is affected by Subscription Fraud. The impact of subscription fraud does not stop with revenue loss alone. The effects could be catastrophic in terms of escalating complaints, poor customer experience, […]
Premium Rate Service Fraud and International Revenue Share Fraud – Note the difference to accurately detect and prevent them.
Premium Rate Service Fraud and IRSF together account for $6.5 billion in fraud losses, according to the CFCA fraud loss survey 2013. Both PRS Fraud and IRSF are similar in nature – in both cases fraudsters inflate traffic to certain numbers or number ranges which attract higher settlement payments from the operators – however, there […]
Mobile Phone theft and premium rate fraud – A lucrative scam worth billions.
Calls to premium rate numbers are lucrative than simply reselling the phone suggests a report by Daily Mail UK. The report further claims that even the best of the phones don’t fetch a lot of money in the black market. However, there are bigger gains to be made through premium rate fraud. Over 300,000 phones […]
International Revenue Share Fraud (IRSF) – A threat operators cannot ignore.
In the most recent CFCA fraud loss survey, International Revenue Share Fraud has once again emerged as one of the top 5 global fraud loss types. However, compared to the results in 2011, International Revenue Share Fraud (IRSF) has now claimed the top spot and is also the primary emerging fraud threat globally, highlighting the […]
Voice Biometrics for secure authentication.
Voice is as unique to an individual as the fingerprint, face and iris. While the fingerprint, face and iris capture requires special apparatus – often expensive – no such devices are required for voice authentication. This makes it simpler and cost-effective to create a verification system that can let the legitimate customer through and block […]
Atreus – Application Fraud – FAQ
What is Atreus? Atreus is a powerful application fraud detection tool. What is Application Fraud? In simple terms, Application Fraud is the deceptive practice of providing incomplete, inaccurate, fabricated or stolen information with an intent to defraud the service provider. It’s simple and it’s pervasive. To be more technical, application fraud can be classified into […]
Application Fraud – Prevention is better than cure
Atreus Application Fraud system is designed with a simple principle in mind: the best way to control fraud is to prevent fraud in the first place. Most financial service providers are horrified when they write off a large proportion of their unpaid loans or when communication service providers find that a good percentage of the […]
