Mobile IP networks and the IoT were identified as the biggest fraud and security challenges that Communication Service Providers (CSPs) will face in the coming year, according to WeDo Technologies' recent survey findings.
Conducted at WeDo Technologies’ Annual Worldwide User Group, which was held in Portugal in May 2017, the survey collated the answers of 250 revenue assurance and fraud management professionals from 65 service providers and technology partners from across the world. When asked about the biggest fraud and security challenge they will face in 2017, 43% of respondents stated Mobile IP networks, followed by 39% identifying IoT as the biggest challenge for the year. Protecting VoLTE (16%) and 5G (2%) rounded out the remaining responses.
At the heart of the major challenges identified in the survey is the digital transformation that CSPs are currently undergoing. As Mobile IP networks continue to be rolled out and IoT adoption accelerates, CSPs are contending with managing complex, hybrid network environments, and a greater scale of data. This in turn creates new opportunities for fraudsters to exploit.
Survey respondents see cloud-based systems being part of their risk management strategy in the near future. Twenty-one percent (21%) of survey respondents expect a cloud-based solution to be implemented within the next year; where 43% of respondents believe they will have an element of cloud-based risk management within the next two to five years.
Rui Paiva, CEO, WeDo Technologies
Carriers are increasingly seeing how new digital networks and services are stretching their legacy fraud prevention and revenue assurance solutions beyond their limits. This leaves CSPs exposed to potentially expensive and wide-ranging threats that may be difficult to contain, as we’ve seen from the increasing occurrence of IoT security breaches and ransomware attacks.
