The Enterprise Mobile Messaging Fraud Framework gets an update
The multi-billion dollar A2P (Application to Person) market has enjoyed significant year-on-year growth as brands and enterprises increasingly use the trusted channel for authentication, customer engagement, as well as marketing.
However, It is estimated that fraud is costing the ecosystem at least $2 Billion annually creating volatility in the market, as well as directly impacting enterprises and consumers.
In a bid to tackle the fraud plaguing the industry MEF and its members have put together an updated guide on how to identify fraudulent practices and how businesses and consumers can protect themselves against messaging fraud.
The history of the Fraud Framework
The framework was developed by a collaborative cross-ecosystem working group of participants of MEF, which includes members of iTouch.
Officially launched in May 2016, MEF published its A2P Messaging Fraud Framework Version 1.0. The creation of this document was seen as a historic moment and a big win for the messaging industry as a whole.
If you want to know more about the creation of the fraud framework check out our article The Global Fraud Messaging Guide For 2016
The aim of the Fraud Framework
The framework was developed by a host of industry professionals with the intention of educating businesses and consumers alike on the following:
- Understand why fraud exists
- Recognise the 13 different types of fraud which affect the ecosystem today
- Identify the different communities and parties within the ecosystem
- Consider the impact of fraud on the whole ecosystem
- Learn what steps can be taken to protect against fraud
Driving home the Fraud framework
The framework is only part one in the fight against fraud. To truly be effective in tackling and eliminating fraud within the ecosystem, MEF and its members continue to be proactive, which is primary reason behind the second version of the fraud framework.
Version 2 is the result of a comprehensive review of the evolving market by our cross-ecosystem group of programme participants, through which two new additional fraud types have been identified, i.e. SIM Swap Fraud and SMS Roaming Intercept Fraud.
The revised framework identifies, defines and maps a total of 13 different fraud types, providing recognisable, real-life examples of how fraud can occur, sharing how the various communities within the ecosystem can detect and protect themselves and their customers against fraud.
Insist on responsible messaging
We encourage all businesses using A2P messaging to ask their service providers be open about their practices and inquire around their adherence to the fraud framework.
As a member of MEF, we at iTouch are committed to providing our customers with superior products and to never compromise the security and integrity of our products and data by using any grey tactics.
Download the Fraud Framework
To get the latest copy of the fraud framework click here
For more information and / or a personal visit to discuss the Fraud Framework Guidelines, feel free to contact us here, and we will arrange an appointment to meet you. We look forward to being of service to you and your company in 2017.