iBASIS FraudLock iQ360 Leads Innovation in Fight Against All Major Forms of Fraud

iBASIS, the leading provider of communications solutions for operators and digital players worldwide, announced today that its FraudLock iQ360 solution has succeeded in blocking 191 million Wangiri fraud calls in H1 2021, a result of its major portfolio expansion to enhance operators' ability to fight complex, rapidly evolving global telecoms fraud.

The estimated annual cost of leakage to communications providers and their customers in 2020 was $141 billion; of this, $48B was loss due to fraud suffered by customers of communications services, and $44B was the cost of fraud to the providers.* Frauds, including scams such as IRSF, Wangiri ("one ring and drop" fraud), PBX hacking, and Origin-Based Fraud (OBF) related to Origin Based Routing (OBR) are estimated to cost telcos, operators, and service providers the equivalent of 2.59% of revenues.*

In 2020 iBASIS joined the RAG Wangiri Consortium, a global initiative that uses blockchain technology to share intelligence about "one ring" Wangiri fraud in its commitment to fighting fraud for customers at the industry level. In response to the STIR/SHAKEN ruling on prevention of robocalling into the US, iBASIS has also led the fight against fraud by fortifying its network with its newly developed Compliance Protocol to combat robocalling as they implement STIR/SHAKEN across their networks. As of today, iBASIS is one of the first international carriers to pass the GLF Anti-Fraud Code of Conduct Attestation process and actively help to fight fraud at the industry level.

"iBASIS' FraudLock iQ360 enables us to increase traffic to global destinations while protecting that traffic when it goes to risky destinations," says Thierry Nedellec, Head of Project, IT Configuration RA & QOS Wholesale Carrier Services Bouygues Telecom. "iBASIS' innovative capabilities provide multiple and flexible ways to block traffic with the FraudLock Outbound and Numbering Database Intelligence feature, supported by unparalleled expertise, high availability and response, and ability to customize features and introduce new services such as SMS antifraud."

The Collaborative Integrated Architecture is the latest expansion of the FraudLock iQ360 portfolio. The new architecture design provides flexibility, with the option to be hosted on the cloud or on the customer's premises. Key building blocks of the service architecture are the Call Tracking system for grey route audit, Voice Firewall and Invalid Number Management System, in order to increase detection and blocking performance to protect outbound and inbound traffic.

"iBASIS has emerged as one of the leaders in anti-fraud innovation," says Rajesh Muru, Principal Analyst, Global Data. "In our analysis of the current wholesale antifraud landscape, iBASIS has excelled with FraudLock iQ360's advanced algorithms, 360-degree view to fully protect customers' inbound and outbound traffic, and industry-first guaranteed SLA protection option."

Please visit us online for more information on iBASIS FraudLock iQ360.

*Risk & Assurance Group Survey of Revenue Assurance and Fraud Management in Communications Providers

About iBASIS

iBASIS is the leading communications solutions provider enabling operators and digital players worldwide to perform and transform. Powered by Tofane Global, iBASIS is the first independent communications specialist, ranking third largest global wholesale voice operator, Top 3 LTE IPX vendor with 700+ LTE destinations, and a leading Carrier Cloud Communications player. iBASIS today serves 1,000+ customers across 18 offices worldwide. For more information, please visit iBASIS.com.