Swisscom to Protect Revenue From Fraud Using BICS' FraudGuard Solution

01 Sep, 2016, 03:00 ET from BICS

BRUSSELS, September 1, 2016 /PRNewswire/ --

Cloud-based Solution Proactively Blocks Fraudulent Call and SMS Attempts in Real Time Through its Unique Crowdsourcing Driven Fraud Intelligence Platform

BICS, a global wholesale carrier for voice, mobile data and capacity services, today announced its global crowdsourcing-based fraud prevention platform, FraudGuard, has been deployed by Switzerland's leading telecoms company, Swisscom. FraudGuard will help Swisscom secure its revenue streams and prevent fraud on its network.

FraudGuard enables wireless operators, such as Swisscom, to proactively shield themselves and their customers from criminal activity in the telecoms industry, including but not limited to International Revenue Share Fraud, PBX hacking and Wangiri. By proactively crowdsourcing details of suspicious network activity across BICS' global network footprint, FraudGuard is able to identify and block traffic to fraudulent destinations.

Earlier this year, BICS announced the solution had detected and blocked more than 10 million fraudulent call attempts on its customers' networks during the first quarter of 2016. This figure is part of more than 540 million fraudulent call attempts blocked by FraudGuard in total and reduces the estimated €38.1bn which is lost to fraud in Telecommunications industry each year (according to The Communications Fraud Control Association).

"Using proactive, collaborative measures, such as FraudGuard, the industry is able to fight this global problem," said Katia Gonzalez, Head of Fraud Prevention Operations and Services at BICS. "The introduction of all-IP networks may have accelerated the speed in which fraud attacks aimed at the telecoms industry can be carried out, but if network operators are prepared to work together and share knowledge of incidents as they incur, a preventative course of action can be taken."

Reto Meier at Swisscom added: "Safeguarding our revenue from fraudulent activity and protecting our customers' user experience is a major priority at Swisscom. Reinforcing the focus on fraud protection, Swisscom has chosen the innovative FraudGuard service from its long-standing partner BICS' to help block fraudulent international call attempts, in and out of our network, proactively as an additional benefit to the other functionalities of the solution."

About Swisscom 

Swisscom is the leading telecommunications provider and one of the key ICT players in Switzerland. Its headquarters are located in Ittigen near to Berne. Outside of Switzerland, Swisscom provides broadband internet access in Italy via Fastweb. Over 21,500 employees generate annual revenues of over CHF 11.6 billion (2015) with over CHF 5.7 billion posted in the first half of 2016. Swisscom is one of the most sustainable companies in Switzerland and Europe. For more information visit www.swisscom.ch

About BICS 

BICS is recognized in the wholesale communications market as a top global voice carrier and the leading provider of mobile data services. We aim at bridging the telecom world with the new unconventional communication providers worldwide.

Our innovative suite of solutions for Voice, Messaging, Data & Connectivity, Business Intelligence & Analytics, Fraud & Security, Roaming, MVNE and Asset Monetization are designed to bring value to our customers' businesses.

BICS is headquartered in Brussels with regional offices in Bern, Dubai, Madrid, New York, San Francisco and Singapore. We also have a satellite office in Beijing and local representation in Accra, Cape Town, Miami, Montevideo, Quito, Nairobi and Toronto.  

For more information visit www.bics.com

SOURCE BICS