Telecoms vs Cybercrime: A $300bn Global Loss in 2016

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LONDON, February 28, 2017 /PRNewswire/ --

Telecoms IQ recently interviewed André Spantell, Group Fraud Manager at Telia Company one of Scandinavia's biggest telecom companies, about the threat that cybercrime could pose to an industry that is not prepared for the onslaught.

André outlined that traditional methods of tackling cybercrime are no longer sufficient when facing new threats within the telecoms area. The new landscape of cybercrime no longer just includes criminals that target revenue, but telecom operators could face threats from other players such as activists and nation states looking for more information.

André later explains how the after effect of an attack doesn't just affect revenue but what it can do to your brand image and credibility in the market.  "A bad reputation translates into the loss of potentially millions of dollars and a lot of customers."

André outlines how user-friendliness when it comes to thwarting cyber attacks is not high on the agenda and this can prevent customers from adapting certain behaviours. He feels that basic training should be provided for not only staff but customers also informing them and continually updating them about how they should behave online in order to protect personal, sensitive data such as user passwords etc.

"I do believe that if everybody was more invested in the mind-set of protecting their own sensitive data, it would reduce some of the 'business case' for the fraudsters as well as initiating a fight back against them. For instance, if we started using two-factor authentication, it would be much more difficult for the criminals to gain access to our tools, services, phones, whatever it may be."

Download the full interview here: http://bit.ly/2mgajjU

André Spantell, Group Fraud Manager at Telia Company will be presenting at this year's Telecoms Fraud & Revenue Assurance conference for more information visit http://www.fraudrevenueassurance.iqpc.co.uk  

SOURCE Telecoms IQ