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With identity theft on the rise across the telecommunications sector, Roberto Valerio, CEO of anti-fraud specialist, RISK IDENT, explains how companies can tackle the issue before customers are hurt. These days, it’s not just banks, insurers and financial institutions that are concerned about identity theft. In the last five or so years, the issue has spread to a wide range of sectors with the telecommunications industry now heavily targeted.
2017 was an eventful year in online fraud. Data breaches were ramping up by the week – not by the month anymore – and hit mainstream media headlines as we saw with the leak at Uber towards the end of the year. Meanwhile, companies in Europe (and beyond) have been preparing for the implementation of the General Data Protection Regulation (GDPR). Will the New Year be equally momentous?
We saw the first pan-European e-commerce fraud operation, which ended with the arrest of 42 professional fraudsters,[1] as well as a 17-year-old prosecuted for stealing 21,000 customer bank details from a major broadband provider. But like the mythical monster Hydra, one severed head in fraud can spawn two even more menacing heads.
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