The report identified brand authentication technologies as a critical element of these frameworks
Robocall fraud to cost consumers $40B worldwide in 2022: research. Source: pexels.com
According to Juniper Research, consumers will lose $40 billion to fraudulent robocalls globally in 2022, rising from $31 billion this.
In fact, fraudulent robocalls pose threats to consumers by encouraging the disclosure of personal information. Fraudsters can use that data for identity theft. In most robocall fraud cases, fraudsters impersonate a genuine brand or enterprise to gain the call recipient’s trust.
The new study predicts that emerging mitigation frameworks will combat fraudulent robocalls by creating an ecosystem in which brands and enterprises are verified before the call is placed.
However, it noted that standardising services across all stakeholders, including mobile operators, brands and mobile operating system developers, will be essential to creating a service that mitigates fraud in real-time.
The report identified brand authentication technologies as a critical element of these frameworks. Brand authentication services provide mobile subscribers with information on the smartphone screen before the call has been answered, including the verified identity of the enterprise calling and the purpose for the call.
To maximise the benefit of these frameworks, creating an ecosystem that enables enterprises to be verified by a third party will be essential to re-establish trust in mobile voice as a communications channel.
We’ve reported that DHL is set to invest over $300M in its US-based operations.
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