Elevate Your Network Security with SmartShield™ by Veriswitch
Call Fraud
Call fraud is a significant and growing threat in the telecommunications industry. In 2023, fraud losses in the United States exceeded $10 billion for the first time, marking a 14% increase from the previous year. These losses were predominantly driven by investment scams, which accounted for over $4.6 billion, and imposter scams, which resulted in nearly $2.7 billion in losses (Federal Trade Commission) (KPMG). The increasing sophistication of scammers, particularly those utilizing social media platforms, has further exacerbated the problem. For instance, scams originating from social media have led to over $2.7 billion in reported losses since 2021 (Federal Trade Commission).
This pervasive issue highlights the urgent need for carriers to adopt advanced fraud detection solutions like SmartShield™. By leveraging AI to analyze live call interactions without rerouting or disrupting the call flow, SmartShield™ provides a non-intrusive and accurate method for detecting and preventing fraud. This approach not only protects carriers and their customers but also helps ensure compliance with FCC regulations, mitigating the risk of penalties and enhancing the overall security and integrity of the network.
Combat Call Fraud with Intelligence
SmartShield™ is the cutting-edge solution designed to safeguard your network from call fraud. Utilizing advanced artificial intelligence and machine learning, SmartShield™ conducts comprehensive behavioral and contextual analysis of each call. This innovative approach enables SmartShield™ to accurately detect fraudulent activities while minimizing false positives, ensuring that your legitimate traffic flows uninterrupted.
TCPA Insights
As part of the call analysis, SmartShield™ may also provide TCPA compliance insights. This is by no means a comprehensive evaluation of a call's TCPA compliance, but it does provide guidance and observations of missing TCPA components.
Insights have a variety of useful applications beyond just fraud mitigation. They can be useful in call center environments as well to evaluate legitimate campaigns for imrpoved compliance.
Multiple Languages
SmartShield™ can analyze campaigns in several dozen languages, including mixed language campaigns.
Non-Intrusive Analysis
SmartShield™ seamlessly integrates into the media path of calls, ensuring no interference with the natural flow of communication. Unlike other solutions that reroute calls to an IVR or device that generates artificial triggers, SmartShield™ passively analyzes the ongoing call, allowing it to reach its intended destination without disruption. By examining the live interaction on the A-leg in this manner, the SmartShield™ AI gains comprehensive context and intent of the call.
In contrast, other similar solutions require the carrier to reroute calls to devices that simulate human responses, aiming to activate pre-recorded pitches from dialing devices. This method not only limits analysis to robocall recordings, missing live operator campaigns, but also creates billable events that will inadvertently affect rerouted legitimate calls as well. SmartShield™ avoids these pitfalls, providing a more accurate and non-intrusive solution for detecting and preventing call fraud.
Key Advantages for Carriers
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Real-Time Fraud Detection: SmartShield™ transparently analyzes live calls without disrupting the natural flow, ensuring seamless call experiences while identifying potential threats.
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Targeted Fraud Prevention: By focusing on the originator of the call, SmartShield™ blocks fraudulent calls at the source, preventing them from infiltrating your network.
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Comprehensive Reporting: Receive detailed reports and notifications about detected fraudulent activities, empowering you to take proactive measures against scammers.
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Automated Blocking: Future enhancements will include automatic blocking of confirmed scam campaigns and subsequent alerts, extending protection across your entire network.
Stay Ahead of Regulatory Demands
Non-compliance with FCC regulations on call fraud can result in severe penalties and damage to your carrier's reputation. SmartShield™ enables carriers to be proactive rather than reactive in their efforts to detect and prevent fraud. This forward-thinking approach helps carriers stay ahead of regulatory pressures from bodies like the FCC, ensuring compliance and avoiding penalties. By blocking fraudulent calls at their source and providing detailed insights and reports, SmartShield™ helps carriers maintain a clean and secure network, reinforcing their commitment to consumer protection and regulatory adherence
SmartShield In Other Industries
SmartShield™ extends beyond its primary role in fraud detection for carriers, offering a versatile solution for various industries. It can be adapted to monitor and enhance the quality control of customer service agents, ensuring adherence to company standards and improving customer interactions. Additionally, SmartShield™ can evaluate sales calls for compliance, verifying that representatives follow regulatory requirements and internal policies. The AI-driven analysis of call content provides actionable insights, helping businesses optimize performance, train staff more effectively, and maintain high levels of service quality. These capabilities make SmartShield™ a valuable tool for any organization that relies on telecommunication for customer engagement and compliance.