Data synthesis in fraud detection and prevention
Telecom service providers
Learn how data synthesis can help telecom service providers (TSPs) navigate their complex organizational structures and target and collect relevant fraud data when the need arises.
Look forward to detect and prevent fraud
Growing transaction numbers and advances in technology are increasing the potential for fraud attacks on the telecommunications industry. The heavy dependence of telecom service providers (TSPs) on automation, the Internet, IP networks, and wireless networks can provide fraudsters with many opportunities to act. And, suspicion or evidence of fraud, waste, or abuse can present TSPs with numerous legal, compliance, and related issues.
Facing such situations, TSPs historically have performed “look back” analysis to determine how likely and how large an alleged scheme may be. However, the inefficiency of this reactive approach can potentially impede investigation and resolution.This article discusses an alternative approach—data synthesis—which can help TSPs navigate their complex organizational structures and target and collect relevant fraud data when the need arises.
This article also offers potential strategies to help TSPs create a road map for implementing data syntheses on an enterprise level and outlines an actionable four-step process TSPs may want to consider for improving decision making and predictive capabilities in support of early fraud detection and mitigation.
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