Today, business is conducted almost exclusively online. Fraudsters have learned to game the system with sophisticated tactics aimed to steal money from unwary businesses as a result of the tectonic shift to e-commerce and the demand for quick, trustworthy digital identity verification. Call centers and online businesses that employ SMS one-time passwords (OTP) as part of their sign-up procedures are among the organizations that are targeted by international revenue share fraud (IRSF), also known as OTP abuse/SMS flooding attacks.
When there is an increase in the number of text attempts to phone numbers around the world, it is a sign of IRSF. The speed at which text attempts are coming in is another vertical to take into account. It is a sign of fraud if you witness one text try every second, with the velocity of the text tries changing to fifty attempts in a second.
Many organizations lack effective strategies to prevent or even detect IRSF as it rises across APAC. In fact, IRSF allows criminals to steal money from businesses by exploiting their security measures, making multi-factor authentication a highly profitable way to steal money that is frequently unnoticed until it is too late.
In this webinar, the team will talk about:
Claim Event
Is this your Event?
Claim your Event to immediately update Event information, respond to reviews, and more!
Claim This Event