Driving trust in a Digital World
The need to protect customers’ personal data is more critical than ever. There was a 25% increase in fraud in England and Wales in 2022 compared to 2020. Worldwide, businesses suffered 50% more cyberattack attempts in 2021 — and numbers are predicted to rise. The cost-of-living crisis is adding to this increase as criminals target people during these stressful economic times. While online fraud and scams are nothing new, cyberattacks can be truly devastating, leaving victims with significant financial losses and a loss of trust in the online systems we’re all increasingly reliant upon.
At JT, we’re passionate about building solutions to better protect customers and their data. We know how important it is to build trust with your customers so they know they’re in safe hands. We do that by utilising real-time operator data to create unique fraud protection and customer authentication services.
In 2023 and beyond, businesses will need to employ technology like SIM swap protection, Know Your Customer, and real-time monitoring to secure data and keep their customers safe from the increasing threat of online fraud.
SIM swap protection
SIM swap fraud continues to rise, regularly hitting the headlines during 2022. Also called SIM jacking or SIM hijacking, it’s a form of identity theft where criminals take control of your mobile phone number by assigning it to a new SIM card. They can then intercept messages and one-time passcodes to access your accounts. SIM swap protection can provide businesses with real-time checks on recent SIM swap activity, helping them flag potential fraud and take proactive measures to protect their customers’ accounts from financial loss.
Know Your Customer
Know Your Customer (KYC) is the best way for providers to confirm a customer’s identity. KYC gives you access to valuable operator data that can be used to rapidly authenticate customers’ information and identity seamlessly and securely.
Signal monitoring
Having the ability to validate a customer’s number and network in real-time can help reduce risk and enhance customers’ protection from fraudulent attacks. The ability to monitor and utilise operator data can protect against call-forwarding and APP fraud, as well as reduce costs for A2P messaging by checking the status of numbers.
Thomas Noel Chief Product Officer“In 2023 and beyond, businesses will need to employ technology like SIM swap protection, Know Your Customer, and realtime monitoring to secure data and keep their customers safe from the increasing threat of online fraud.”
