Carrier billing is growing globally in use, with more consumers than ever using it all over the world for often mainstream purchases from app stores and more. But fraud is becoming an issue, and the mobile industry needs to clampdown on this now if DCB is to survive, industry players warn.
Speaking from this year’s Global Carrier Billing Summit in London, Dimitris Maniatis, head of Upstream’s security platform, Secure-D, warned mobile industry leaders: “We must safeguard digital carrier billing against the ever-growing threat of online transaction fraud that’s targeting mobile operators and their subscribers worldwide.”
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Direct carrier billing is growing fast, but is also in danger, Maniatis says: and the proof is in the numbers. Mobile subscribers and smartphone penetration are rising and the number of people going online is increasing, especially in emerging markets. It is expected that 1.4 billion more people will be using mobile internet by 2025, mobile data usage will grow 5X by 2024 and DCB will increase 3X by 2022.
This presents a lucrative opportunity for data generated revenue for MNOs. The rapid evolution of DCB, however, is also gaining the attention of fraudsters whose sophisticated tactics are putting its viability at risk. This threat calls for effective solutions that will safeguard MNOs’ digital revenue growth against fraud related to online transactions.
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He continues: “In 2018 alone, Upstream’s innovative security platform processed over 1.8 billion mobile transactions, detected and blocked over 63,000 malicious apps in 16 countries and identified 30 million malware-infected users.”
Steps that MNOs need to take to protect themselves include implementing:
- real-time blocking
- subscription pattern analysis
- billing clearing processes
- user-level malware protection
- real-time reporting
- security profile configuration and ad compliance monitoring.
HEAR MORE ON COUNTERING FRAUD THROUGH COMPLIANCE MONITORING IN OUR EXCLUSIVE INTERVIEW WITH MCP Insight AT GLOBAL CARRIER BILLING SUMMIT BELOW