North America to Suffer Over 50% of Global Losses to Fraudulent Robocalls in 2023
The
latest report from Juniper Research, the foremost experts assessing emerging communications technologies, has found that mobile subscribers will lose $58 billion to fraudulent robocalls globally in 2023; a rise from $53 billion in 2022.
These losses will be driven by the increase in multifarious scam calls to deceive end users, such as unauthorised call forwarding or caller ID spoofing, with the end goal of financial gain.
Despite the ongoing development of robocalling mitigation frameworks, such as STIR/SHAKEN in North America, the report predicts that fraudsters’ ability to innovate fraud methods will drive these losses to reach $70 billion globally by 2027. STIR/SHAKEN includes standards to mitigate fraudulent methods popular in North America, such as caller ID spoofing, which imitates a legitimate enterprise through the use of temporary business numbers.
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How Brand Authentication Will Terminate Robocalling, assesses key losses to fraudulent robocalls, and outlines how platforms can leverage brand authentication methods and emerging frameworks to verify and validate their services for end users.
“Juniper Research’s latest Robocall Mitigation research provides a comprehensive assessment of the robocalling market and brand authentication solutions. It includes strategic recommendations for robocalling detection and mitigation service providers and end users, as well as comprehensive 5-year forecasts for robocalling traffic and operator loss to fraudulent robocalling activities, and authentication technologies. In addition, it features an evaluation of the key solutions protecting businesses from the effects of robocalling, including brand authentication API calls.”