Phone Fraud

Phone fraud, or more generally communications fraud, is the use of telecommunications products or services with the intention of illegally acquiring money from, or failing to pay, a telecommunication company or its customers.

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.[1]

According to a 2011 survey by CFCA, an industry group created to reduce fraud against carriers, the five top fraud loss categories reported by operators were:[1]

  • US$4.96 billion – compromised PBX/voicemail systems
  • $4.32 billion – subscription/identity theft
  • $3.84 billion – International Revenue Share Fraud
  • $2.88 billion – by-pass fraud
  • $2.40 billion – cash fraud

From : Wiki