Telecom companies are increasingly confronting subscription fraud. This fraud involves using stolen identities and credit card details for phone contract sign-ups, primarily aimed at acquiring premium smartphones.
Despite stringent Know Your Customer (KYC) checks, these fraudulent activities manage to slip through, posing a severe threat to both revenues and customer trust. Fraudsters often use phishing methods or ‘ID mules’ to obtain and exploit personal identities. In the fraud process, they present counterfeit IDs and compromised credit details to pass security screenings during contract creation.
Once they secure the smartphones, jailbreaking and reselling them on secondary markets is common, leading to substantial revenue loss for telecom operators. Thoroughly understanding these tactics is essential for telecom businesses to effectively counteract and prevent both subscription and dealer fraud.
Tackling Subscription Fraud Head-On
In-Depth Verification Methods
Upgrade identity checks to block fraudulent telecom contract sign-ups effectively.
Alert Anomaly
Detection
Rapidly pinpoint and address unusual telecom subscription activities and patterns.
Fraud Prevention
Evolution
Continuously enhance anti-fraud tactics to outsmart evolving telecom fraud strategies.
Solidifying Trust and Security
Ensuring transparent, clear communication about safeguarding against telecom contract fraud.
Educating clients on spotting, preventing subscription fraud for enhanced proactive defense.
Rapidly addressing subscription fraud with advanced detection and enhanced response strategies.
Building lasting trust with telecom operators through reliable and effective fraud prevention efforts.
Xintec is at the forefront of combating subscription fraud, a critical issue identified by our domain experts. Our approach integrates targeted measures against the fraudulent use of stolen identities and credit details in telecom contracts. We employ specialized analytics to scrutinize KYC processes, identifying and addressing vulnerabilities exploited by fraudsters.
Our systems are finely tuned to detect anomalies in subscription activities, such as irregularities in ID documentation and unusual credit patterns. This vigilance extends to overseeing in-store and online transactions, mitigating risks associated with fraudulent acquisitions of high-end smartphones. Our comprehensive analytics, coupled with AI-driven insights ensure early detection and prompt action against fraudulent subscriptions.
Xintec’s focused efforts translate into fortified defenses for telecom operators, preserving the integrity of their customer relationships and securing their revenue streams against sophisticated subscription fraud techniques.