Swisscom and Sunrise have launched a historic initiative to tackle growing telecom scams. The two major Swiss companies established a real-time risk consortium. This network protects digital ecosystems and customer accounts.
Telco fraud prevention acts as the core shield of this new security system. Members exchange critical threat indicators instantly. Thus, both firms can stop fraudsters before they strike a different network.
Empowering Telecommunications Security
The platform uses the LexisNexis Risk Intelligence Consortium framework. LexisNexis Risk Solutions hosts and supports this collaborative network. Consequently, participating organizations can seamlessly share digital risk signals.
The communications sector remains a major target for global cyberattacks. Indeed, scammers attack over 5% of digital interactions. This rate vastly exceeds that of the financial services and e-commerce industries. Attackers focus heavily on new account registrations and online payments.
During its first three months, the consortium identified thousands of high-risk data attributes. This shared database triggered a 150% surge in fraud detection. Additionally, the alert system achieved a near 100% confidence rating.
Industry Leaders Drive Collaboration
The participating telecommunication giants noted that telco fraud prevention requires active, daily cooperation. Both companies emphasized the immediate benefits of sharing real-time threat intelligence.
“Working within the consortium has allowed us to shift towards a more proactive fraud strategy,” explains Michael Hohermuth, fraud manager at Swisscom. “The ability to act on high-risk signals before a fraud attempt hits, enhances our approach to threat management. The real-time feedback loop with Sunrise means that if either member spots a threat, the other can act when that same threat actor comes knocking at our door.”
Anna Hayford, fraud manager at Sunrise, adds, “The consortium enables a level of agility that we could not achieve in isolation. Sharing intelligence in near real time means we can see threats as they emerge, rather than once the damage is done. We’ve seen clear improvements in our detection capabilities, especially with high-risk devices and synthetic identities.”
Moreover, this model aligns with global policies. Global regulations demand better telecommunications security and scam mitigation.
Jason Lane-Sellers, director, fraud and identity at LexisNexis Risk Solutions, says, “With international regulatory frameworks demanding stronger fraud prevention across digital channels, the Swiss telco consortium ensures that scam mitigation now begins within the country’s core telecommunications infrastructure itself. At LexisNexis Risk Solutions we’re committed to expanding this authoritative collaborative model globally, across sector and industry, to demonstrate that precise coordination and shared intelligence represent the ultimate defense against coordinated fraud networks.”
Ultimately, this Swiss partnership proves that joint defenses can neutralize organized criminal networks.
For related updates on digital trust and cybersecurity, explore our SOC News.
Source: PRNewswire
