MEF Director of Products Nick Rossman shares a summary of the MEF Anti-Fraud Yearbook 2024, the new essential guide to understanding and combating the latest threats in the mobile ecosystem.
The MEF Anti-Fraud Yearbook 2024 provides a comprehensive overview of the challenges and solutions in combating mobile fraud.
The report highlights the alarming financial impact of fraud, reaching $1.026 trillion in 2023, with mobile devices being the primary tool for fraudsters.
The telecom industry alone lost $38.95 billion to fraud in the same year. The report also underscores the persistent threat of ad fraud, costing marketers $84 billion in 2023, and the rising challenge of Artificial Inflation of Traffic (AIT), which resulted in losses of $2.4 billion for brands between 2022 and 2024.
The yearbook emphasizes the erosion of consumer trust due to the prevalence of scams and spam, with 47% of consumers receiving unsolicited SMS messages in 2023.
In response to these challenges, the report showcases MEF’s efforts in combating fraud through various initiatives, including events, publications, data analysis, and collaboration with industry stakeholders.
It also details the various types of fraud prevalent in the mobile ecosystem, such as consumer-focused message scams, enterprise-targeted message scams, voice scams, and mobile ad and DCB scams.
The report further explores the industry’s defense mechanisms against fraud, including firewalls, penetration tests, number lookup, network intelligence, and regulatory countermeasures. It also highlights the potential of emerging technologies like GenAI in enhancing fraud detection and prevention.
The MEF Anti-Fraud Yearbook 2024 serves as a crucial resource for understanding the complex landscape of mobile fraud and provides valuable insights into the ongoing efforts to combat it.
It emphasizes the importance of cross-sector collaboration between industry stakeholders, regulators, and law enforcement agencies in building a more secure and trustworthy mobile ecosystem.
Don’t let fraudsters win. Download the MEF Anti-Fraud Yearbook 2024 today and empower yourself with the knowledge to safeguard your business and the mobile industry.
The MEF Anti-Fraud Yearbook 2024
In the fast-paced world of mobile technology, fraudsters are constantly evolving their tactics, leaving businesses and consumers vulnerable. The MEF Anti-Fraud Yearbook 2024 is your essential guide to understanding and combating the latest threats in the mobile ecosystem.
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