Managing fraud successfully requires the right combination of know-how, data, intelligence and decisiveness. Wangiri fraud is no exception and relies on real-time data and detection systems, shared market intelligence and the ability to take proactive steps to prevent calls from or to these fraudulent numbers. The RAG Wangiri Blockchain Consortium makes this possible by:
- Providing a trusted, secure and real-time data-sharing technology for use by the consortium.
- Rapidly achieving critical mass adoption of the technology by the telecommunications industry.
- Improving the usefulness of the data through automated business process integration.
- Extending the capability to other, adjacent fraud types.
In launching the most recent phase of the project in February 2020, we have seen strong interest and adoption by telcos and vendors of the new technology. This has provided a good platform to onboard consortium members quickly. Consortium members have actively been using the blockchain technology to contribute their data to a shared consortium ledger of wangiri numbers. This phase of the project required consortium members to submit and retrieve data from the ledger using a web-based interface.
We are pleased to announce the next important milestone in the project has been reached with three consortium members, Vivacom, Neural Technologies and GBSD Technologies, all now able to automatically connect, submit and retrieve data from the ledger through the open and published API.
These three integrations are the first use cases for:
- Integration by a telco with the wangiri blockchain technology (Vivacom).
- Integration by a fraud management vendor with the wangiri blockchain technology (Neural Technologies).
- Integration by a network monitoring and blocking vendor with the wangiri blockchain technology (GBSD Technologies).
This allows FMS systems to automatically add detected wangiri numbers to the ledger, as well as retrieve the consortium data for real-time monitoring or blacklisting. It also provides the capability for data in the ledger to be used by network monitoring systems to block incoming or outgoing traffic to these numbers.
Martin Laesch, CTO of Neural Technologies, explained why his business connected its fraud management system to the API of the wangiri blockchain.
By integrating our award-winning Optimus solution with the wangiri fraud intelligence exchange, we can offer an effective communication which assures the revenue protection of several leading CSPs at low cost. By debuting the implementation of our innovation through a network of organizational synergy such as the Blockchain Consortium, the movement towards full-coverage security can be driven at a much faster pace. This will accelerate the protection rate of key players, allowing us to better achieve our goal of reinforcing business security as efficiently as possible.
This milestone is exciting not only because of the advantages gained by these businesses and their customers, but also for the value it offers all other consortium members, who will benefit from timelier and more comprehensive wangiri fraud intelligence as a result. Other vendors and telcos in the consortium have started integrating their systems to the ledger and hope to announce their readiness soon.
Telcos who wish to automate the connection of their fraud or network systems to the RAG Wangiri Blockchain ledger can contact us here.
