The Financial Cost of Scam Calls, Spam Calls and Robocalls
Scam calls and texts are defined as fraudulent communications in which the scammer attempts to trick people into sharing their sensitive information, usually for financial gain, often by posing as reputable organizations such as banks, delivery companies, and public bodies.
In contrast, spam calls are not necessarily scam attempts. Many spam calls come from legitimate businesses that use poor calling practices, leading to annoyed customers. These calls can range from political or polling calls to repeated donation requests from charities. Telemarketing, robocalls, spoofing, and IRS and insurance scams are a few different types of spam calls.
The sheer volume of these unwanted calls remains a persistent problem, as evidenced by the staggering number of affected users. A recent report by Juniper Research estimated a concerning trend, with mobile subscribers globally losing a staggering $58 billion to fraudulent robocalls in 2023, and it projects this figure to reach $70 billion by 2027.
Protecting your business and your customers from scam calls, texts, and spam or robocalls is crucial, as these unwanted communications can result in significant financial and emotional harm to the victims.
How to Stop Scam Calls, Spam Calls or Robocalls?
Most traditional or built-in phone spam-blocking features on new iPhone and Android models only allow mobile subscribers to block numbers after receiving spam or scam calls. However, this does not stop robocalls and scam calls.
Other methods of spam calls and robocalls prevention that are being used include:
- STIR/SHAKEN implementation – This detection method effectively identifies robocalls with spoofed Caller IDs. It aims to authenticate calls and help reduce caller ID spoofing. However, this framework hasn’t had a comprehensive detection effect and may not fully address the issue when calls originate from overseas VoIP providers.
- Threshold-based rules approach - This static method is inadequate in a constantly evolving threat landscape and can result in high false positives, excessively blocking legitimate traffic, which can lead to customer dissatisfaction and revenue loss.
- Do Not Call Registry - The Do-Not-Call list is a registry managed by the Federal Trade Commission (FTC) and does not prohibit or restrict all calls. It helps reduce telemarketing calls but not scammers.
Scammers are always looking for new ways and constantly changing tactics to target their victims. Traditional systems struggle with complex pattern recognition and proactively block scam or spam calls and texts before they reach the subscribers.
SCAMBlock for Telecom:
Scam and Spam Calls Detection and Prevention with AI and Machine Learning
Neural Technologies' SCAMBlock distinguishes itself through its real-time screening calls, adaptive learning, and predictive capabilities, fortified by multi-layered analytics. This solution offers a dynamic and robust defense against scams and spam calls. Unlike conventional measures, SCAMBlock offers a comprehensive, network-based solution that adapts to evolving scam and spam call patterns, providing telcos with a future-proof approach to call security leveraging AI and machine learning technology.
Active Network-Embedded Call Blocking
SCAMBlock integrates seamlessly with a telco's network infrastructure, enabling real-time call analysis and blocking at the network level. This proactive approach prevents spam calls from ever reaching subscribers' devices.
SCAMBlock effectively blocks various types of unwanted calls, including:
- Scam Calls: Identifies and blocks calls with a high probability of being fraudulent, protecting subscribers from financial loss and identity theft.
- Robocalls: Blocks automated calls that deliver pre-recorded messages, eliminating disruptive and unwanted telemarketing attempts.
- Wangiri Calls: Stops "ring and disconnect" calls used to manipulate call completion statistics and generate fraudulent revenue.
Furthermore, SCAMBlock ensures compliance with regulations like the US FCC Robocall Mandate, demonstrating a telco's commitment to providing a secure calling environment.
AI and Machine Learning-Based Detection
SCAMBlock utilizes a sophisticated AI/ML-powered analytics model to analyze call data in real-time. This multi-layered approach examines various call characteristics, including:
- Caller ID: Identifies suspicious phone numbers, including those known to be associated with spam activity.
- Call Patterns: Analyzes call duration, call frequency, and time of day to flag unusual call behavior indicative of spam.
- Advanced call-behavioral model: Multi-stage and multi-stream analysis technique that examines data through various lenses to detect emerging trends in scam calls or robocalls and network usage patterns.
Voice Announcement Alert or Caller ID Modification
SCAMBlock can inform subscribers about suspicious calls in real-time through voice announcements or modified caller ID displays, empowering them to make informed decisions about answering the call.
Personalized Blocklist or Allowlist
SCAMBlock provides subscribers with the option to manage their incoming calls by creating personalized blocklists or allow lists for specific countries or phone numbers, offering a level of control over their calling experience.
Real-time Dashboard and Reporting
SCAMBlock offers a comprehensive real-time dashboard that provides telcos with valuable insights into spam call activity on their network, which allows for:
- Monitoring blocked calls: Track the volume and type of spam calls being blocked, enabling informed decision-making about network security strategies.
- Performance evaluation: Measure the effectiveness of SCAMBlock and identify areas for potential optimization.
- Transparency with subscribers: Provide subscribers with data on the number of scam calls blocked on their behalf, demonstrating the telco's commitment to call security.
By implementing SCAMBlock, telcos can significantly reduce spam calls and robocalls, improve network performance, and enhance subscriber satisfaction. This comprehensive solution empowers telcos to reclaim control of their networks and deliver a secure and reliable calling experience for their customers.
SCAMBlock offers telcos with a more comprehensive and preventative approach to identifying and stopping these unwanted calls before they reach their subscribers.
