Thursday, 02 December 2021

Stay Ahead of Fraud – Stop schemes like Wangiri 2.0 scams with LANCK Telecom’s FMS

posted by LANCK Telecom
Monday 04 October 21

Keeping clients protected from fraud isn’t only a matter of stopping current fraud schemes. It’s also about knowing what new ones are coming. Being true anti-fraud activists and blocking 800+ attacks per day, LANCK Telecom constantly has an eye on new fraud schemes. This is what gets us closer and closer to answering questions like, “How to stop Wangiri calls?”, once and for all. So, how do we stop Wangiri calls and all other forms of telecom fraud? Let’s have a look. Staying Ahead of the Game Our efforts and commitment to preventing existing fraud and detecting new fraud schemes have paid off. Within the past several years, LANCK Telecom discovered a new type of phone number call back fraud very similar to Wangiri. What distinguishes the latter from the former is the party it targets: instead of telcos and their customers being outplayed, the real victim here is the enterprise client, who is duped into connecting to international spam calls. We appropriately named this new type of fraud, Wangiri 2.0. What are Wangiri Calls? What are Wangiri Calls? How does Wangiri Work? There are a couple forms of Wangiri scams. To better understand Wangiri 2.0 and how it came into existence, it helps to understand its predecessor, Wangiri, the original call back phone scam, and how it works. In short: Wangiri scams steal money from callers by luring them into dialing high…

Keeping clients protected from fraud isn’t only a matter of stopping current fraud schemes. It’s also about knowing what new ones are coming. Being true anti-fraud activists and blocking 800+ attacks per day, LANCK Telecom constantly has an eye on new fraud schemes. This is what gets us closer and closer to answering questions like, “How to stop Wangiri calls?”, once and for all. So, how do we stop Wangiri calls and all other forms of telecom fraud? Let’s have a look.

Staying Ahead of the Game

Our efforts and commitment to preventing existing fraud and detecting new fraud schemes have paid off. Within the past several years, LANCK Telecom discovered a new type of phone number call back fraud very similar to Wangiri. What distinguishes the latter from the former is the party it targets: instead of telcos and their customers being outplayed, the real victim here is the enterprise client, who is duped into connecting to international spam calls. We appropriately named this new type of fraud, Wangiri 2.0.

What are Wangiri Calls?

What are Wangiri Calls? How does Wangiri Work? There are a couple forms of Wangiri scams. To better understand Wangiri 2.0 and how it came into existence, it helps to understand its predecessor, Wangiri, the original call back phone scam, and how it works.
In short:
Wangiri scams steal money from callers by luring them into dialing high-rate premium numbers by calling phones from said numbers and quickly hanging up.
It works like this:
1. A fraudster calls a person’s phone from a high-rate premium number
2. They let it ring once and hang up
3. The person notices the missed call and, usually out of curiosity, calls it back
4. The fraudsters answer and the caller is charged premium rates
While connected to a Wangiri scam, the fraudsters try to rack up profits by keeping the caller on the line for as long as possible either via a person talking on the other end or by playing an IVR message.
Within the past couple of years, its younger brother emerged on the playing field, operating based on the same principle, but with different tactics. With our state-of-the-art telecom fraud detection technology, LANCK Telecom was able to discover this call back scam first, naming it Wangiri 2.0.

Wangiri Scams – How Does Wangiri 2.0 Work?
Now that you understand how Wangiri scams work, it will be easy to understand how Wangiri 2.0 came into existence.

Wangiri 2.0 moves beyond individual persons and targets brands and enterprises, instead. This call back scam inflicts immense financial losses on unexpecting companies who aren’t prepared for this new fraud scheme.

Here’s how the Wangiri 2.0 works:

Internet bots submit international and premium rate numbers to businesses’ online contact forms.
Enterprises and brands call these numbers via their voice services (i.e. call centers and voice messages) and pay exorbitant rates.
Fraudsters on the other end try to keep the caller on the line for as long as possible, usually by playing a recording of a ringing connection, tricking the caller into waiting even longer while racking up charges.
Simply put:

With Wangiri 2.0, fraudsters exploit voice services rendered to enterprises & brands by telcos to earn profits off calls to high-rate premium numbers
This scheme is alive and thriving these days, and companies with online contact forms and similar online submission forms are highly susceptible to being duped by it.

What’s more, most company’s Fraud Management Systems (FMS) also aren’t prepared for this and similar fraud schemes. They can’t prevent them, since their developers aren’t even aware some of these schemes exist.

Selecting a state-of-the-art FMS that has the protocols in place to detect and prevent such international call scams and other attacks is the only way to stop them. This leaves many companies who have built up trust in their current system in a situation where they must evolve with the times or remain vulnerable.

If a company notices these charges and can’t connect them to any client or legitimate call that was made from within their company, they may bring it to the attention of their telco provider.

Without being aware of the Wangiri 2.0 scheme, the telco’s are left as puzzled as the company.

The telco’s response is often that these were natural expenses and that their service has been fully rendered.

The company is left to foot the bill and continue with business as usual.

With such instances taking place in the telecom world, it becomes clear to see how 5% of a company’s income each year goes to fraud.

When companies first hear of Wangiri 2.0, they quickly understand how complex the world of call back scams and other telecom fraud is and immediately start asking the question, “How can we stay protected?”.

They also understand that this question pertains not only to current fraud schemes, but future ones as well, that must be detected.

Fortunately, there is a definitive answer to the question, “How to stop Wangiri calls?”. Moreover, there is a way to protect your company from all telecom fraud, now and in the future.
The solution to this problem is based on two fundamentals:

- Communication between telcos and enterprises
- A robust, state-of-the-art Fraud Management System

How to Stop Wangiri Scams and Other Telecom Fraud

Sadly, international financial organizations, online shops, client support departments and many more regularly fall victim to Wangiri fraud, such as Wangiri 2.0, and other voice fraud schemes. LANCK understands the importance of keeping enterprises free from such attacks. This is why we are giving special attention to Wangiri 2.0, always attempting to detect new fraud types and keeping our clients protected via our FMS.
If we approach the problem of telecom fraud with a couple tools – communication between providers and their clients along with cutting-edge technology – we can stay ahead of the fraudsters at very little cost.

Communication & Trust – Key to Stopping Wangiri Scams

The team behind LANCK Telecom believes in the utter importance of brand-to-customer interaction and the “talk-and-listen” attitude when catering to client needs. Additionally, we strongly advocate for safer communication with enterprises without worrying about potential fraudsters. The result is mutual trust between ourselves and our clients.
For example, a fraud attack occurs and a business notices something unusual in their records. Instead of setting a precedent by taking the financial and reputational losses and carrying on with business as usual, communicating with your fraud management system provider can turn the experience into an opportunity for growth for both of you and enhanced security for your business.
To support this trust, telcos must offer robust solutions that can adapt to the landscape and keep their clients safe from current and future telecom attacks.

Cutting Edge Fraud Management Systems – Stopping Wangiri Scams and More

Committed to building mutual trust within the industry and making it fraud-free, LANCK Telecom has developed tools to suppress all kinds of voice traffic fraud, including Wangiri fraud, such as Wangiri 2.0. The team behind our Fraud Management System developed a way to detect, alert and block Wangiri 2.0 attacks and all other telecom fraud schemes.
In the case of Wangiri fraud, our system checks the phone number at the sign-up stage and decides whether to allow the sign-up, block it or allow it and send the company an alert.
Since communication with customers is such a key component of a business’s success, your FMS mustn’t block legitimate calls or contact form submissions. This can damage customer relations. As such, we developed our FMS to provide ultimate protection while minimizing false positives.

LANCK Telecom Fraud Management System – Stop Wangiri Scams and All Other Telecom Fraud

Our Fraud Management System helps you build a secure customer communication flow, focusing on 3 main steps: connection, verification and safety.

Connection

96% of consumers say customer service is an important factor that influences their loyalty to a brand. Businesses need to be in touch with their entire customer base to fully understand demand. And you really need to get in touch with your customers using the method they prefer. Your customer base consists of different customers, and each will have a preferred channel for customer support.

However, it’s also important that you provide consistent support across all channels. Every day we help businesses maintain that connection through voice and messaging. Decades of experience allow us to guarantee the best quality and price on the market.

Verification

Customer verification is crucial where instances of money or sensitive information is involved. It stands to reason that companies would want their customer verification to be as accurate and effective as possible.
70% of people do not use a unique password for each website, which is another reason you need to be sure whom you are communicating with. As a result, 2-factor authentication has become the most trusted and common form of identity authentication in customer communication. Your verification method should be trusted as well. We provide verification services for businesses and know how to ensure your verification is truly authenti?. We provide this service easily, quickly and with tangible results.

Safety

The matter of verification also calls to mind safety but doesn’t cover it completely. It’s critical to eliminate the threat of fraud. Suspicious activity here appears on both sides and might strike not only the customer but enterprises as well, such as in the case of Wangiri 2.0. In fact, businesses lose USD 1.82 billion globally every year to fraud. But blocking calls from clients is not always a good idea (as we have mentioned before, always being available to your clients is key. Always. Blocking legitimate calls can hurt customer loyalty). That is why telecom anti-fraud solutions are highly needed by enterprises as well. A proper solution can alert you of potential scammer activity on any call or form submission. Our award-winning anti-fraud solution has you covered. With us, your risk of fraud disappears.

Final Words

All our current and future partners are welcome to connect to our Fraud Management System. You can integrate it remotely via API, using our web interface or host the FMS directly within your IT infrastructure.
To learn more about our FMS, feel free to have a look at this page: https://lancktele.com/fraud-protection/
As always, we would love to hear your feedback. Please contact us at fms@lancktele.com to share your thoughts and get answers to any of your questions.
If you’re ready to request access to our Fraud Management System, feel free to contact us at fms@lancktele.com and one of our specialists will be in touch today to get you started.

To know more about the services we provide visit LANCK Telecom website: https://lancktele.com/


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