Do We Need a New Method to Assess Fraud Risks?

There is no reason to develop a methodology if nobody is going to use it. On the other hand, there are times when it is most efficient to pool knowledge and resources in order to collaborate on the development of common and general methods we might all adopt. So before we make something, it makes sense to ask who will use that something, and I am glad that the TM Forum’s Fraud Group is following that approach by polling the comms industry about the need for a new fraud risk assessment methodology. They ask all the right questions:

  • Does your telco already follow a fraud risk assessment methodology?
  • If it is one you devised, are you willing to share it with others?
  • If you are following somebody else’s standard, which one is it?
  • If the TMF wrote a new standard, would you adopt it?

I commend the TMF’s Fraud team for having the good sense to ask about the demand for a standard before they start writing it. Too many risk and assurance standards are written by people who desperately want to teach others, but who fail to do basic preparatory research, like asking people about the methods they already use.

So what do you think? Does the industry need a new fraud risk assessment methodology? To give your feedback, follow the link to complete the TMF’s short survey. The deadline for responding is March 29th.

Eric Priezkalns
Eric Priezkalns
Eric is the Editor of Commsrisk. Look here for more about the history of Commsrisk and the role played by Eric.

Eric is also the Chief Executive of the Risk & Assurance Group (RAG), a global association of professionals working in risk management and business assurance for communications providers.

Previously Eric was Director of Risk Management for Qatar Telecom and he has worked with Cable & Wireless, T‑Mobile, Sky, Worldcom and other telcos. He was lead author of Revenue Assurance: Expert Opinions for Communications Providers, published by CRC Press. He is a qualified chartered accountant, with degrees in information systems, and in mathematics and philosophy.