Symmetry Partners with Biaas to Deliver Intelligence on the Phone Numbers Most Likely to Be Abused by International Fraudsters
Telecoms assurance and analytics experts Symmetry Solutions are proud to have entered into a cooperative agreement with number plan management specialists Biaas to jointly supply their global intelligence services. When used together, the two services block all of the most common entry points for international telecoms fraud.
- Unallocated numbers. It should never be possible to make or receive calls or messages from numbers that have not been allocated for use by any communications provider. However, many phone companies and other businesses are simply unaware of which numbers have been allocated and which remain unallocated, especially when those numbers relate to a foreign country. Fraudsters exploit this by commandeering unallocated numbers for their own purposes. A simple check against Biaas' continuously updated number range databases will stop an enormous number of calls and messages that could only be used for crime.
- High risk numbers. It is obvious why fraudsters prefer to exploit phone numbers which generate the most profit. Symmetry goes undercover to find these numbers in the same way that fraudsters do. These numbers are then added to the PRISM database of numbers used for fraud so customers know where to focus their monitoring. It is a measure of the success of PRISM that fraudsters now switch between different numbers to different destinations far more frequently than they did when PRISM first entered into service in 2013. PRISM's data gathering is the only way to keep pace with fraudsters that expect to remain undetected by automated controls and artificial intelligence because they keep changing the pattern of each attack.
Guy Howie, Managing Director and founder of Biaas, spoke about this exciting new partnership with Symmetry.
Biaas has established itself as a leading supplier of vital telecoms intelligence through our Global Number Range Management (GNRM) and Fraud Number Range Management (FNRM) databases. It makes good sense to combine this data with the information in PRISM, a service which has earned the respect of anti-fraud professionals worldwide. The methods that Biaas and Symmetry use to collect intelligence are distinct but complementary. Bringing them together results in overlapping protection. Putting the two together gives businesses a common sense strategy for regularly updating their watchlist of phone numbers and number ranges to block or monitor. I have great respect for the work done by Symmetry's fraud experts and I'm proud that GNRM and FNRM will now be offered alongside PRISM.
Colin Yates, Head of Fraud Prevention at Symmetry, explained the value of partnering with Biaas.
It's a simple fact that criminals like to exploit blind spots in the knowledge of their victims. We all use phones, but few businesses have the time and resources to monitor every change that foreign regulators make to dial plans in their country. Biaas use their comprehensive industry knowledge and years of experience to provide a service that saves their customers a great deal of money. They keep customers updated about broad swathes of numbers that should be blocked because they could never be used for legitimate communications. In the meantime, I created methods that pinpoint specific numbers which are advertised for use by fraudsters. Comparing our data sets with actual frauds suffered by telcos who failed to implement adequate controls confirms that both kinds of data can be used to reduce fraud in actual practice. The comparison also shows that the best protection is achieved by combining both kinds of data. I have always recommended that PRISM data be used alongside a supply of unallocated numbers like that provided by Biaas. This partnership agreement means we can now enhance the value offered to our customers by delivering both kinds of data together.
To learn more about the new partnership agreement between Biaas and Symmetry, and how the use of the combined intelligence services results in better protection against fraud, please provide your contact details below.