GLF publishes its seventh annual report on the state of fraud in the international telecoms industry

The ITW Global Leaders’ Forum (GLF), a leadership body of the international carrier industry, has today published its seventh annual report on the status of fraud in the international telecoms industry, as well as the names of the organisations that have been attested compliant with the GLF Code of Conduct (developed in partnership with the i3 forum) to prevent fraud in international telecommunications. Details of the process and the results are included in the report available to download here: https://www.itwglf.com

Key findings from this year’s report include:
• Fighting fraud becomes a top priority: in 2024, 64% of carriers identified fraud prevention as a “top priority,” a significant increase from 2023.

• The impact of international voice fraud is decreasing: for the first time since 2018, 50% of operators reported a reduction in the volume and impact of voice fraud, marking a positive shift in the fight against these threats. IRSF, CLI Spoofing, and OBR Fraud have emerged as the most impactful fraud types, financially and operationally.

• Fraud on SMS is still an outstanding task: although there have been slight reductions in the impact and volume of SMS fraudulent traffic, the industry remains under significant threat. Smishing, Artificially Inflated Traffic (AIT) fraud, and SMS Originator Spoofing continue to be the most prominent risks.

• Leverage AI in fraud detection: there is a clear and growing reliance on new technology to tackle emerging threats, with over 60% of carriers surveyed now using AI-driven systems to enhance fraud detection and prevention.

• Expected raise on regulatory scrutiny: over 64% of carriers expect increased regulatory scrutiny as a direct result of unwanted traffic, making fraud a mandatory element of focus and collaboration.

 

Press Contact:
William Everard, Senior Marketing Manager
william.everard@itwglf.com