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Serious Fraud in the Telecom Sector Costs the Industry $17bn in Revenue a Year.
According to the report by the ITW Global Leaders’ Forum, most telecommunication companies do not contend with fraud traffic. This situation can lead to greater financial losses with the spread of Internet of Things, when billions of IoT devices could be hijacked or reconfigured. Put this in perspective, fraud costs nearly $30 billion globally last year according to the Communications Fraud Control Association (CFCA).