Stirring Up the Fight Against Fraud and Robocalls
Secure and Reliable Voice
Fraud is a pervasive problem across all industries, and telecommunications is no exception. Fraud mitigation strategies are essential for businesses to protect their assets and reputation.
In the telecommunications industry, fraud takes many forms, including robocalls, call spoofing, and identity theft. Organizations must develop robust strategies to detect and prevent fraudulent activities.
Two key technologies that have emerged in recent years to combat fraud are Stir Shaken and the Robocall Mitigation Database. These technologies work together with regulatory bodies like the Federal Communications Commission (FCC) and compliance solutions like mycountrymobile to create a comprehensive approach to fraud mitigation.
Explanation of Stir Shaken and Robocall Mitigation Database
Stir Shaken is a technology developed by the telecommunications industry aimed at preventing call spoofing. The technology works by validating the originating phone number of a call before it enters the telephone network.
Validation involves checking whether or not the call has been tampered with by comparing cryptographic signatures associated with each phone number. The Robocall Mitigation Database is another tool used in conjunction with Stir Shaken technology designed to prevent robocalls from being placed on networks.
The database contains lists of specific numbers that have either been authorized or blocked for use in telephone networks. All service providers must comply with rules established by regulatory bodies around the use of this database.
Importance of FCC and my country mobile Compliance
The Federal Communications Commission (FCC) is a regulatory body in the United States that has been charged with overseeing telecommunications. The FCC plays a crucial role in combating fraud, including robocalls, by issuing regulations that aim to protect users from malicious activity. They work closely with technology providers and service providers to develop effective strategies for mitigating fraud.
Fraud Mitigation
Overview of fraud types
Fraud is an intentional misrepresentation or deception made for personal gain. It can take on many forms, including financial fraud, identity theft, insurance fraud, and healthcare fraud. Financial fraud is the most common type of fraud and includes schemes like Ponzi schemes, pyramid schemes, and insider trading.
Common tactics used by fraudsters
Fraudsters use various tactics to deceive individuals and businesses into giving up their money or sensitive information. Some common tactics include phishing scams where they send emails that appear legitimate but contain links to fake websites designed to steal personal information such as passwords or bank account details.
Stir Shaken
Explanation of Stir Shaken technology
Stir Shaken is a new technology designed to combat the increasing instances of illegal robocalls and caller ID spoofing. It stands for Secure Telephone Identity Revisited (STIR) and Signature-based Handling of Asserted Information Using toKENs (SHAKEN). The system uses digital certificates to ensure that the calling party's identity is verified before the call is even placed.
Benefits of Stir Shaken for businesses and consumers
The benefits of Stir Shaken technology are many. Businesses can use it as a way to help prevent fraud from spoofs or robocalls using their brand name or customer lists. For instance, if a fraudster tries to pretend they are calling from your bank but use an automated dialer with a spoofed number that looks like your bank’s number, then STIR/SHAKEN will recognize this as anomalous behavior and flag it accordingly.
Implementation process for businesses
To implement Stir Shaken, businesses need to work with their carrier provider. In order to use STIR/SHAKEN technology, a business' telecommunications provider must be using it too. It is important to find out whether your provider has implemented this technology and what the costs are for implementing it on your end.
