Carrier billing was once considered one of the safest transaction methods, but this is a myth. Mobile Network Operators (MNOs) offer internet and communication services to their customers as part of their telecommunications package. As a result, whenever fraud occurs in the Direct Carrier Billing (DCB) ecosystem, it causes panic among network consumers.
Malware, bots, phishing emails/SMS, and other sophisticated methods are used by cybercriminals to target device users. Their undetectable and constantly evolving mechanisms directly impact the growing reliance on mobile subscriptions. According to light reading, mobile Internet users will reach 60% of the world’s population, or 5 billion, by 2025, and DCB service subscriptions will likely increase.Â
As the number of mobile internet users and DCB’s Value Added Service (VAS) subscriptions grows, fraudsters will increasingly target customers, merchants, and network operators to profit financially. For various reasons, online transaction threats in the DCB subscription model have become a concern for Telco’s.
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DCB Fraud Threatens Mobile Network Operators (MNOs)
Loss of Consumer Trust and Market Credibility
Customers who conduct transactions using carrier billing have placed their trust in MNOs. However, cybercriminals’ blatant disregard for consumer trust is evident during financial fraud. Furthermore, users blame MNOs and merchants for losing money on untendered VAS subscriptions that appear on their bills.
While rising customer complaints remain a flaw in the overall operation, the loss of revenue from repaying a sufficient amount to a larger group of users results in a financial blowback to the Telco network. As a result, it is a constant battle for brand custodians to make deliberate efforts to restore user trust and ensure brand credibility.
Customers become victims of financial fraud on other associated apps and fraud in the brand’s DCB transaction-based apps. According to polymer users’ digital identities are sold for as little as $15 on the dark web.
What Can and Should MNOs Do to Reduce DCB Fraud Risks?
In these changing times, MNOs require a technologically oriented solution and experts understanding the various modes of DCB fraud. mFilterIt DCB anti- Ad Fraud Prevention is currently a pioneer in the field of DCB. Our core team has over a decade of telecom network operations experience.
By implementing multiple levels of validation, our Ad Fraud Prevention eliminates the threat of DCB fraud, allowing brands to receive subscriptions from genuine users. Furthermore, by providing multiple mechanisms for device management, the sophisticated solution categorises the threat level and revokes DCB fraud.
Conclusion
With the rising and evolving method of cybercriminal activities, the scale of DCB fraud grows daily. As a result, the current situation necessitates using mFilterIt’s DCB anti- Ad Fraud Prevention to validate legitimate subscriptions, avoid the disadvantages of DCB VAS fraud, increase ARPU, and protect advertising budgets aligned with VAS.
As an MNO, you must provide safe and secure environments for VAS subscriptions. Otherwise, you may face penalties or have your services suspended entirely. Incorporating mFilterIt DCB fraud prevention tool solves such issues.
Schedule a meeting to learn more about the benefits of incorporating our DCB anti- Ad Fraud Prevention into your customers’ transaction journeys.
