In this guest post, Dmitry Sumin, Head of Products at AB Handshake outlines the growth of fraud in SMS as they see it, and how AB Handshake is working to tackle the issue.
In today’s world, the issue of SMS fraud, including AIT (artificial inflation of traffic), is increasingly pressing. Terms such as smishing, SMS traffic pumping, and SMS impersonation fraud are shared concerns for both MNOs and businesses globally.
A recent 2023 survey by the CFCA unveiled breath taking statistics: In just 2023, SMS fraud resulted in losses of $5.8bn. Let that sink in.
Despite the ever-increasing threat posed by SMS fraud, only 40% of organizations currently use AI and machine learning to detect fraudulent activities.
Common anti-fraud technologies often flag innocent activities as suspicious, with an average False Positive Rate of 23%. It could not be clearer; the industry must adopt advanced solutions now.
AB SMS Security
AB SMS Security was developed to tackle SMS fraud efficiently and effectively, with the intricate complexities of preventing SMS fraud in mind. AB SMS Security provides a precise and secure line of defense to businesses and MNOs.
AI-Enabled
At its core, AB SMS Security houses a state-of-the-art AI engine designed to scrutinize SMS traffic intelligently, examining sender patterns, content, and embedded links in real time. This proactive, AI-enabled approach allows AB SMS Security to detect and prevent fraud with unmatched accuracy.
Cross-Validation
Additionally, AB SMS Security utilizes cross-validation technology at every possible opportunity to ensure the authenticity of each message. Cross-validation occurs between the originating and terminating operator via an out-of-band channel. The outcome is 100% detection of all common SMS fraud types.
What Sets AB SMS Security Apart?
- It’s equipped to detect major SMS fraud types, offering solutions for businesses dealing with SMS traffic pumping and helping MNOs combat smishing, spam, and more.
- Flexibility is key, with deployment options that cater to different needs, including cloud-based or on-premise options.
- Users gain access to a dashboard that includes instant insights and can customize reports to their individual preferences, ensuring they have the information they need when needed.
- AB SMS Security offers customizable alerting and blocking policies, allowing its users to make decisions that work for them.
For businesses, the benefits are clear: Reduced losses from unauthorized access and decreased customer churn.
MNOs can look forward to: Restoring confidence in SMS communication, leading to increased revenue, lower customer churn, and minimized losses.
It’s no secret that SMS fraud cases are rising; the threat is growing yearly. AB SMS Security is a reliable, dependable, and highly effective solution that ensures the integrity of SMS communications.
Find out more about AB SMS Security and the SMS fraud risks it prevents.
