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RAID Subscription Fraud

Shut the door to fraud: Criminals are using subscription fraud as an entry to other types of fraud.

Subscription Fraud Is Widely Used to Commit Other Types of Fraud

Subscription fraud involves dishonestly obtaining a person’s personal information that would be required to sign up for new telecom contracts or services, and then using that information with what appears to be a valid authorization, but having no intention of paying for the products and services used.
Subscription fraud is often categorized as bad debt rather than fraud. Operators globally estimate that nearly 40% of all bad debts are actually subscription fraud.

The Out-of-the-box Solution to Fight Subscription Fraud

Recognized as the most damaging of all non-technical fraud methods, Subscription Fraud is the gateway for many other telecom fraud scams. Perpetrators don’t just stop with illegally obtaining service, they usually use it as a precursor to other types of fraud such as Premium Rate Fraud and International Revenue Share Fraud (IRSF).
The effects can be catastrophic in terms of escalating complaints, poor customer experience, dissatisfaction among support staff, and diminishing investor confidence.

Can't see the forest for the trees?

Harness the power of your data to connect the dots between strategy, risk and performance.

Embrace the New Dynamic Digital Identity Validation

WeDo Technologies’ Subscription Fraud tool integrates various authentication methods, as personal identification data is often times inconsistent across a multi-channel environment.
The WeDo solution provides a variety of online identification & validation methods to enhance electronic identification and trust, including: knowledge-based validation, phone authentication, address validation, one-time password use, and common usernames. The use of these identity qualifiers also provides important subscriber context, which helps to maintain the accuracy of RAID prebuilt fraud hotlists.

Recognize Customers and the Risk They Represent

There are many complexities brought on by subscriber behavior, with users logging in from multiple devices, locations and channels. Smart authentication relies on a deep understanding of not only the digital identity of a connecting user, but their history too. By combining shared global intelligence, it is possible to streamline onboarding, prevent account takeovers and detect insider threats.
The subscriber access to content and services must meet strong authentication requirements. For this reason, the WeDo Subscription Fraud solution automatically executes a due diligence algorithm that gathers subscriber information in order to understand the risk they might represent to an organization.

From Onboarding Verification to Ongoing Authentication: RAID Delivers End-to-End Identity Verification and Authentication

Onboarding
Discontinue the onerous and exhaustive information gathering forms that subscribers need to complete. Less attrition but higher qualification methods.
Verification & Authentication
Quickly identify and confirm identities to protect subscriber accounts. Validate customer identities through a friendly, non-intrusive approach.
Fraud Detection
Detect, prevent and deter fraud at every step of the process. Real-time monitoring activity while complying to domestic and international regulations.

Choose How You Want Your Subscription App Deployed

Adopt the RAID platform and choose the deployment option that best fits your business needs, budget, and resources. If your company still doesn’t have a full public cloud policy due to security and compliance issues, WeDo Technologies provides an alternative in private and hybrid cloud models to deploy RAID with its prebuilt risk management modules or apps.
Try the cloud environment for free! To get access to RAID.Cloud for fraud management, simply request a free trial, load your data, and start monitoring alarms through one of our apps using the ready to go cloud-based server environment.

RAID risk management software is easy to use and highly configurable

Schedule a meeting with us and see what RAID can do for your business.

Staying Secure in the Digital Ecosystem

In the era of the Internet of Things (IoT), the need for widespread identity management is growing. It is no longer just about identifying people and managing their access to different types of data (i.e. sensitive data, non-sensitive data, device data, etc.).
In a world where everything is connected, identity management practitioners must be able to identify devices, sensors, monitors, and manage these systems’ access to sensitive and non-sensitive data. WeDo Technologies Subscription Fraud solution provides a unique value proposition for telecom operators that want to seamlessly ensure identity security is sound from the very beginning.

All the Tools in One Platform for End-to-End Risk Management

Case Management
Drill down on data and alerts with ad-hoc analysis to find the root cause of fraud and make better decisions faster.
Fully Configurable
Use easy-to-apply configurations, workflows and dashboards to enable simple and transparent modeling of your required business processes. Automations and migrations allow you to execute this in days instead of months.
Hybrid Solution
React to and stop known and unknown fraud patterns in a repeatable and auditable way by combining an extensive rules library with machine learning.
All-In-One Software
Manage the telco fraud management lifecycle autonomously, from data loading to mitigation actions, with RAID’s complete suite of tools for fraud analysts.
Link Analysis
Quickly uncover fraudulent activities by highlighting key individuals, connections and patterns in a unique visual way. Gain a deeper understanding of data within different entity and relationship types, as well as attributes that can help uncover hidden fraud patterns.
Real Time Data Processing
Streamline the challenge of matching continuously incoming events to evolving patterns, such as bypass fraud, with RAID's complex event processing (CEP). Accelerate fraud detection and react faster to emerging threats with real time data stream analysis.

Accurate and Practical Identity Evaluation Methods

The ongoing and rapid growth of online data due to the Internet and the widespread use of databases has created the challenge of extracting knowledge from data based on research in statistics, databases, pattern recognition, machine learning, data visualization, optimization, and high-performance computing, to deliver advanced business information.
By monitoring data that has been collected over time, RAID Subscription Fraud makes processes more efficient, effective, predictable, and profitable. Through the use of Knowledge Discovery and Data Mining techniques, WeDo provides accurate and practical evaluation methods and models for business decision-making like providing access to services or content.

ML & AI Fraud Detection Models Designed for Subscription Fraud

Artificial Intelligence (AI) and Machine Learning (ML) are the advanced tools needed to combat fraud. They enable anti-fraud teams to process vast quantities of data in near real-time, detect fraudulent patterns and then pass on to a team of anti-fraud experts for further investigation. This allows for the collaboration on training data, the creation of shared models and , inference results, and the validation of those results.
Applied to real data in an automated, low latency manner, these results can affect current business activities, offering a real competitive advantage for organizations. If harnessed and leveraged correctly, machine learning methods can adapt to new and unidentified patterns as underlying changes occur.

Future-Proof Your Fraud Management Strategy by Adopting a Hybrid Technology

Rule Based Approach
An extensive rules library provides immediate fraud awareness and increased accuracy
  • Optimize rules according to your needs
  • Greater accuracy and lower error rate
  • Immediate results
AI/Machine Learning
AI and Machine learning algorithms leverage data analysis processes to detect deviations and unknown fraud patterns
  • Rapid prediction and processing analysis
  • Past customer behaviors evaluation
  • Unlimited traffic analysis
Hybrid Solution
A hybrid approach designed to combine rules with machine learning to detect and predict fraud
  • Early and accurate fraud case detection
  • Identify high risk deviations in real time
  • Outline new fraud patterns and emerging operating methods

How Cablevisión Argentina is Leveraging RAID for Telecom Fraud Detection

Cablevisión is a telecommunications company present in 12 provinces and 90 cities all along Argentina. Cablevisión, provides state-of-the-art paid TV services, high-speed internet services and comprehensive telecommunications solutions to small, medium and large companies.
When Cablevisión Argentina, needed a Fraud Management solution, WeDo delivered.

WeDo Risk Consulting Services

When rolling out a 5G infrastructure, all telcos can benefit from a proactive risk management strategy. This means defining key risks, weighing their probability and potential impact on business drivers and developing a well-thought out rational around actions to take. WeDo Technologies can support you in this. Our consultancy experts can undertake risk assessments that go beyond financial and regulatory risk to consider the wider environment in which you deploy 5G services. Additionally, our consultancy experts can help you put in place effective monitoring and control tools that give you earlier warnings and enable you to respond quickly and effectively.
  • Profitability and liquidity
  • Operational excellence
  • Compliance
  • Growth opportunities

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