cVidya Aims to Reduce Costs, Optimize Efficiency with Managed-Services Expansion. Revenue-intelligence solutions provider cVidya Networks has launched its new, outsourced managed services offering, which it says enables CSPs to reduce costs, optimize business efficiency, and focus on their core business functions by retaining cVidya’s in-house and offshore experts to assist in product delivery, operation, strategy and support. cVidya says its Managed Services for operators includes consultation with industry experts, integration of cVidya’s advanced solutions, and long-term maintenance and support. cVidya says customers benefit from end-to-end strategic planning and business analysis services covering all operational functions leading to reduced operating expenses, improved operational efficiency, and enhanced revenue leakage resolution and reclamation. cVidya also partners with industry leading firms in order to jointly offer the Managed Services suite to operators. cVidya has already deployed its Managed Services offering with several large customers.
cVidya Presents the World’s Largest Centralized Revenue Assurance Deployment With a Tier-1 Mobile Operator in APAC | Telecom OSS News Review. Mobile phone fraudsters leave victims paying for multiple contracts | Money. A special Money investigation this week reveals the extraordinary ease with which fraudsters are stealing basic personal details and mocking up fake proofs of ID – not to steal from your bank account, but to take out multiple mobile phone contracts, leaving victims being chased by debt collectors and fighting to save their credit records. Guildford businessman Peter Lambert (not his real name) is typical of the individuals falling victim to what is now the fastest-growing area of ID fraud, already up nearly 40% this year.
When he returned from holiday, he found that fraudsters had taken out nine contracts in his name, all at mobile-phone shops across north London. His case highlights how easy it is for crooks to go into a mobile-phone store, hand over a person's personal details using fake ID, give separate bank details (not connected to the individual), then walk out with a handset worth £400 or more.
Fake ID is worryingly easy to obtain. Off the hook. Talk about bill shock. A business owner in the US state of Massachusetts received a near $900,000 bill from AT&T for calls supposedly made over four days to Somalia. The businessman claimed hackers used AT&T as a "dial around" long-distance service and refused to pay, so the telco giant sued him in 2009 for $1.15 million (of course tacking on more than $200,000 in interest).
He later countersued.www.att.com The interesting thing is that the company with 14 employees had didn't even have a phone contract with AT&T – its service provider was Verizon, which had noticed a huge increase in international calls over a weekend (to the tune of $260,000) and cut off service. But not AT&T. AT&T claims the company should've taken more precautions to prevent unauthorized access to its phone system, and that under FCC regulations, it’s allowed to collect the money from the owner of the phone line used to make the calls, even if the business wasn't the one making the calls. Multi-million bypass fraud. Payments fraud rises by $77.5m in 2011. Payment fraudsters raked in an extra $77.5 million in 2011, despite the financial industry's success in combating cheque and debit card rip-offs.
The weak link is in transactions using scheme credit, debit, and charge cards - Mastercard, Visa and the like - according to figures released on Thursday by the Australian Payments Clearing Association (APCA). Fraud on transactions using such cards in Australia amounted to $278.3 million in 2011, compared with $184 million in 2010. Within that total, the biggest rise was fraud on "card not present" (CNP) transactions - mainly phone, mail or internet transactions, but including also transactions where a retailer agrees to accept card details without the card being presented.
Advertisement CNP fraud jumped by $66.1 million to $197.5 million. APCA chief executive Chris Hamilton said there were tools available to help retailers protect themselves from CNP fraud and that would soon be boosted by free online training. Mobile Fraud creeps in? Avivah Litan VP Distinguished Analyst 12 years at Gartner 30 years IT industry Avivah Litan is a Vice President and Distinguished Analyst in Gartner Research.
Her area of expertise includes financial fraud, authentication, access management, identity proofing, identity theft, fraud detection and prevention applications…Read Full Bio Coverage Areas: by Avivah Litan | July 9, 2012 | 1 Comment I’ve been talking with lots of financial services companies both in the U.S. and abroad over the past few months that have a strong presence in the mobile channel and are seeing very healthy use and growing adoption of their mobile applications. These apps range from mobile banking and brokerage services, to mobile shopping and mobile payments. And here’s the punch line – none of them have seen any fraud worth reporting other than a couple of instances related to internal misuse and unauthorized activies.
Category: Uncategorized Tags: One million credit card crimes. One in 15 adults were hit with credit card fraud over the past year. Photo: Karl Hilzinger THE online shopping boom has spawned a surge in credit card crime, with more than a million cases of card fraud in Australia last year and total losses blowing out to a record $278 million — almost double the level of two years earlier.
The ballooning losses have prompted a scramble among card issuers, including Visa and MasterCard, and banks to try to keep ahead of the criminals, as more consumers put themselves at risk with online and offshore transactions. A large proportion of the rise in losses is due to online retailers having their systems hacked and credit card details stolen. There has also been a big increase in home computers being compromised for fraud. "We've got more transactions and shopping occurring online than has traditionally occurred so that's driving these losses," said Nick Scott, head of cyber-security at National Australia Bank. Advertisement The association found that: Yes No. Card fraud soars as shoppers move online. Credit card fraud has jumped more than 50 per cent over the past year to a record $278.2 million as the boom in online shopping has led to more Australians being swindled. As more payments move online and offshore, banks and card issuers are struggling to curb the rate of fraud.
Around half of the losses occurred outside Australia, which means customers were caught out buying goods on suspect websites. Losses are also occurring as criminals set up scams to lure customers into making payments. Figures released by industry body the Australian Payments Clearing Association show 1.1 million fraudulent credit card and scheme cards such as Visa debit occurred in the year to December 30. This translates to 96.04 cents in fraud for every $1000 spent on cards, up from 67.24 cents in the previous year.
The average value for each fraud transaction is $250. Advertisement However, efforts by banks to stamp out "skimming" among debit cards at Eftpos terminals and ATMs has carved out some gains. How banks fight hackers and fraudsters. Rhiannon Moore ... the victim of debit card fraud. Photo: Supplied It was 3am when 21-year-old Sydney secretary Rhiannon Moore got the SMS from Westpac. Her debit card had been blocked after the bank saw it had been used to buy porn and air tickets to Malaysia. "They were obviously onto it straight away. I don't know how they found out about it so quickly," she said. Westpac's Head of Financial Crime Management, Rob Love, said dodgy transactions are detected using a combination of purchased software, in-house tech and human checkers.
Security expert Chris Gatford of HackLabs. "We are monitoring all transactions as they occur 24/7 and run them against a series of rule sets that look to predict the likelihood of a transaction being fraudulent," he said. Advertisement Westpac, the Commonwealth Bank and ANZ use a piece of software called Falcon to detect anomalies. Westpac's Rob Love. Credit card fraud risk can be reduced by: Other online security tips can be found here. MTN customer complains of mobile money fraud. Prosecutor Seeks Indictment for Telecom Italia in SIM Fraud Case. A Milan prosecutor filed a request to indict Telecom Italia SpA (TIT) and three former executives in connection with SIM-card fraud at the domestic mobile phone unit, according to a court document. The prosecutor will seek to charge Telecom Italia because it failed to prevent the alleged crime and it benefited from it, according to the indictment request.
The prosecutor is also seeking to indict former Chief Executive Officer Riccardo Ruggiero and ex-managers Luca Luciani and Massimo Castelli with obstruction of regulatory activity, the document showed. This crime carries a maximum jail sentence of eight years. Milan Prosecutor Alfredo Robledo is trying to prove that the executives allegedly inflated Italian wireless client numbers to boost the company’s market share.
The prosecutor alleges Telecom Italia’s executives unlawfully renewed more than 5 million pre-paid SIM cards close to their expiration date by recharging 1 euro cent each, according to the documents. cVidya: CSPs Demand Revenue Intelligence Tools. A new survey shows that communication service providers (CSPs) are turning to revenue-intelligence tools to bring together different departments which share common business targets. In the survey of 120 global operators, conducted by cVidya, respondents said internal fraud, commission verification and price-plan analysis are the three most critical areas that require more advanced solutions.
The findings include feedback from existing cVidya customers and prospective customers over the last four months as well as a survey that was conducted during the cVidya annual User Forum, in which 120 customers from 62 countries participated. Sixty percent of mobile executives reported that there is no revenue assurance (RA) coverage for their dealers/sales commission verification and 58 percent said commission payments make up 5-15 percent of their total revenues. When it comes to fraud, half of execs surveyed said the major concern is internal fraud, while 40 percent mentioned PBX fraud. The problem with oversharing: why burglars like you using Facebook. IT SEEMS harmless enough: announcing your holiday plans on Facebook or uploading that dinner party photo to Twitter. But according to cyber safety experts, such posts are a gift to burglars and stalkers. ''Not only are you telling me where you are, you're telling me where you're not,'' says cyber safety consultant and former police officer Susan McLean. ''And I could get that photo, run it through a program and find out exactly where it was taken.'' One New South Wales family learnt just how dangerous this can be when they were robbed at knifepoint recently, hours after their daughter posted a photo of her grandmother's savings - in cash - on Facebook.
Just before midnight, two men broke in and demanded to speak to the girl, who was not home. Most people who are burgled put it down to bad luck, says McLean. Advertisement Concerned by the possible link between ''location sharing'' and home invasions, insurance company AAMI researched its customers' social media habits. Silver Tail Systems. Device Reputation Fraud Protection Service for Online Businesses. PodOmatic | Podcast - R Mattison's Podcast - Revenue Assurance Pros are Like Good Parents: Olusolape Daji. Revenue Analytics announces winners of 8th Annual Revenue Optimization Challenge. Headlines Revenue Analytics announced the winners of the 8th Annual Revenue Analytics Revenue Optimization Challenge at The Georgia Institute of Technology in Atlanta.
The Revenue Optimization Challenge was issued to MBA students in Professor Laurie Garrow's Pricing Analytics and Revenue Management classes at Georgia Tech's College of Management. Professor Garrow and Robert G. Cross, Revenue Analytics' Chairman & CEO and author of The New York Times Business Best Seller, Revenue Management, were the judges of the Revenue Optimization Challenge. The Challenge is designed to promote excellence in the creative use of pricing and revenue management techniques to solve complex business problems and increase revenue and profits. The judging criteria include originality of ideas, financial impact, benefits to consumers and applicability of the principles to others. The first winning team was comprised of Sean McGee, Adam de Silva, Max Pilzer and Pratik Karan.
Risk management a higher priority today. From reactive to proactive -- That’s how attitudes towards risk management have evolved since the aftermath of global economic meltdown. According to Accenture’s Global Risk Management Survey, 98% of respondents said risk management is a higher priority today than it was two years ago and has gained an increasingly influential seat at the CEO’s table. Even so, only 10% of the overall surveyed companies are considered as “Risk Masters,” capable of transforming risk management into a value-enhancing capability in overall business strategy, capital planning and performance management. Many respondents also believed that critical exposures persist and the benefits of enhanced risk capabilities have yet to be realized. Christopher Loh, Partner, Accenture Management Consulting and ASEAN Practice Lead, Accenture Risk Management observed trends specific to certain Asian countries and some that cut across a few of them.
For example: M1 posts 5.3% drop in Q1 net profit to S$40m. Global mobile churn hits record high. Dylan Bushell-Embling | April 16, 2012 telecomasia.net Mobile customer loyalty has fallen to an all-time low, with the average customer now switching provider every 27 months, researchers warn. Global customer churn reached a record high of 44% last year, the report shows. The contract-free prepaid market is predictably to blame for shortening the average. The average prepaid customer lifecycle is now a mere 17 months, compared to 67 months for postaid users. In Asia-Pacific, pre-paid churn is nearly 100% per year. According to Strategy Analytics director of wireless research Phil Kendall, operators' own aggressive marketing and pricing strategies in some regions have played a role in the problem.
“Promotional SIM card activity in developing markets [has made] customer loyalty virtually obsolete in some countries,” he said. But the report notes that churn is far more expensive to manage in the post-paid market, where handset subsidies often come into play. 6 Telstra customer service fails. Commentary What do you do when you find yourself with a faulty phone and the store refuses to replace it? Persist and speak to other people within the company until you reach someone who can help you.
(Credit: Telstra) A couple of months ago, I decided it was time for me to have a smartphone. So, I looked around and finally decided that the HTC Sensation was the device for me. However, the device has its bugs — as does Telstra's customer service. After a month of discussions with the company, the matter has been resolved. Mistake 1: Telstra store didn't live up to its advertising When HTC announced its new dual-core Sensation smartphone, it said that it would be exclusively sold at Telstra.
I went to the store closest to my work (let's call it store A) all excited, with my hard-earned cash grasped in my sweaty paws to hand over in exchange for a new toy. Mistake 2: staff did not follow Telstra policy So I went to store A and showed them the problem. Telstra suspects calls part of fraud scheme. Mobile phone bill shock: how you can save thousands. Smart meter hacks likely to spread: FBI. Vodafone's child cost it an extra $445m. Mobile Industry Lost over $58 billion in Revenue in 2011 due to Inadequate Billing Systems. News - Mobile firms bleed billions to fraud and bill errors. How to beat the scammers.
DoJ finds AT&T culpable for relay. Internet scams cause record losses. Subex | Leading global provider of Business Support Systems(BSS) – Telecom BSS Vendor, Telecommunications Business Support Systems. Analyze | Optimize | Control. Revenue Assurance in Telecom | Telecom Fraud management | Telecommunications Fraud | cVidya.com. WeDo Technologies. Ziggo, Lavastorm Analytics and The Risk Management Group Impart Expertise on Agile Revenue Assurance.