Sometimes it is better to keep the words to a minimum and to let the numbers talk for themselves. This is one of those times.
The Risk & Assurance Group (RAG) Survey of Revenue Assurance and Fraud Management (RAFM) received 175 responses from professionals who work in the RAFM functions of communications providers. Extrapolating from the answers they gave showed that during this year:
- comms providers collectively lost USD44bn to fraud
- comms providers also collectively lost USD50bn to non-fraudulent revenue and cost leakages
- criminals tricked the customers of communications services into losing a further USD48bn
In total, USD142bn of losses could potentially have been prevented this year if the disciplines of revenue assurance and fraud management had been perfected.
You can see the survey report at the bottom of this article, or you can download it from here. Everyone is licensed to share and reproduce the report on condition that they give credit to RAG. The anonymized raw data submitted by respondents is also available at the survey webpage, along with some infographics which you are also licensed to include in your own reports. And if you want to listen to a six-minute summary of the key findings, take a look at the following video presentation.
