The report on the big revenue assurance, fraud management and cybersecurity (RAFMCS) survey of the Risk & Assurance Group (RAG) is now available. The survey collated answers from 185 RAFMCS professionals working for comms providers to come up with the following estimates for global leakage during 2021:
- security breaches cost USD53bn in total and averaged 3.3% of revenues
- RA-style leakages cost USD43bn in total and averaged 2.7% of revenues
- fraud that targeted comms providers cost USD22bn in total and averaged 1.4% of revenues
- customers lost another USD29bn as a result of frauds using comms services
- comms providers paid another USD3bn as compensation to customers for fraud
- putting these together, global addressable operating leakage was USD149bn for the year
You can watch me giving a 14-minute video presentation of the main results, with all the key diagrams, immediately below. Keep scrolling down for the full report, which can also be downloaded in PDF format by clicking here or from RAG’s survey webpage.