23rd February 2016
Irish start-up XINTEC has good news for the world’s mobile operators ahead of Mobile World Congress: it has found a solution to the €10bn-a-year International Revenue Share Fraud (IRSF) problem that is taking a toll on mobile operators all over the world.
IRSF occurs when fraudsters use stolen SIMs or SIMs obtained using false identities to take advantage of international premium rate numbers and rack up millions of euros of cross-border calls that operators are obliged to pay termination fees for.
In 2015, the Communications Fraud Control Association (CFCA) commissioned a report that found an increase of 497pc in IRSF, which cost more than €10.7bn last year alone.
The problem is the rise in the number of fraudsters scamming networks via international premium rate numbers.