Internal Fraud is viewed by majority of Communication Service Providers as a 'Growing Concern' Survey Shows
Survey conducted at cVidya's annual user conference which took place in Barcelona with 180 participants, from 60 customers and partners, from 35 countries worldwide.
- (1888PressRelease) November 09, 2010 - London - cVidya Networks, (www.cvidya.com) the global leader and innovative provider of Revenue Intelligence solutions for Telecom, Media and Entertainment service providers, announced today the results of its industry survey conducted amongst communication service providers professionals. The survey showed that 85% of respondents indicated that internal fraud is a growing concern for the telecom industry.
The survey was carried out within cVidya's annual user conference which took place in Barcelona with 180 participants, from 60 customers and partners, from 35 countries worldwide. Amongst the CSPs represented at the conference were Bell Canada, Orange Group, Telefonica Group, O2 and Vodafone.
The survey focussed on key issues relating to how CSPs view different aspects of revenue assurance and fraud management, and investigated current industry concerns. The full results of the survey can be viewed on the cVidya website - www.cvidya.com
"With the growing complexity of processes, platforms and offered products, there is an increasing need to monitor internal transactions and activities. One of the lessons learnt from the latest economic crisis is that there is a growing risk of and increasing damage from fraud caused by employees and subcontractors", said Anton Pivala, Head of Fraud Prevention Unit at Kyivstar, Ukraine.
"Kudos to cVidya for organizing an excellent user conference which was attended by large number of operator experts who are involved in domain of revenue intelligence. The conducted on-site survey showed the market tendency towards dealing with neglected however growing risk areas, such as Internal Fraud, Dealer Risk and Collection Assurance and cost management issues. To address these growing operator challenges cVidya launched and demo'ed a variety of innovative solutions at the conference." said Ari Banerjee, senior Analyst at HeavyReading.
Other results indicated that Dealer Fraud is a major concern in Eastern Europe and that PRS fraud is an issue amongst West European and Asian CSPs. The concern for By-pass fraud is greatest in North American operators. Additionally, whilst Rating and Billing verification is highly covered by RA departments, Dealer Commission verification has the lowest coverage (6%). Only 18% of CSPs cover Ledger verification and only 32% are involved in Collection Assurance.
During the conference, cVidya launched and showcased its latest fraud offering, FraudView v9, which supports full integration with cVidya's Revenue Assurance products and includes new capabilities that are also offered as standalone packages such as internal fraud, subscription fraud and bypass fraud.
About cVidya Networks
cVidya Networks is a global leader and innovative provider of revenue-intelligence solutions for telecom, media and entertainment service providers. The company's product portfolio helps operators and service providers maximize margins, improve customer experience and optimize ecosystem relationships through revenue assurance, fraud and risk management, dealer management, margin analytics, and clearinghouse services. Backed by a team of highly skilled professional experts and consultants, cVidya's solutions have a proven track record of achieving rapid ROI and lower TCO. With over 130 customers in five continents and an extensive network of regional offices in Europe, North America, Latin America and APAC, cVidya has one of the largest installed bases of revenue-assurance and fraud-management implementations worldwide.
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