Hampshire UK. March 20, 2023 – A new report from Juniper Research, a company that evaluates emerging communications technologies, has found that mobile subscribers will lose $58 billion worldwide to fraudulent robocalls in 2023; an increase from $53 billion in 2022.
These losses are caused by the increase in a variety of fraudulent calls designed to deceive end users, such as B. unauthorized call forwarding or caller ID spoofing, with the ultimate goal of financial gain.
Despite the ongoing development of robocalling mitigation frameworks like STIR/SHAKEN in North America, the report predicts that scammers’ ability to innovate fraud methods will push these losses to $70 billion globally by 2027. STIR/SHAKEN includes standards to curb fraudulent methods that are prevalent in North America, such as
North America absorbs over 50% of all fraudulent losses
North America remains the region hardest hit by fraudulent robocalls as its affluent nature offers scammers greater financial opportunity and will account for more than half of robocalling-attributable losses in 2023. However, the report estimates that STIR/SHAKEN reduced the region’s annual growth in robocalling fraudulent losses by 85% between 2022 and 2023. By 2025, robocalling fraudulent losses are projected to decline for the first time in North America as this framework far is common.
Custom frames are required outside of North America
The report urges stakeholders formulating frameworks outside of North America to focus on region-specific fraud methods, such as
In addition, the report identified emerging brand authentication technology as a key anti-fraud framework; Inspire consumer confidence in voice channels. This technology allows users to verify the origin of the call on the smartphone screen before answering the call and will be the most prominent solution to protect subscribers from robocalling scams.
Find out more in the new report: Robocall Mitigation: Strategies, Business Models & Market Forecasts 2023-2027.
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