Phone fraud
Illegitimate way of obtaining money by using phones / From Wikipedia, the free encyclopedia
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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.
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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]
- $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