Unveiling Expanded Capabilities for the Fraud Intelligence Blockchain

London, United Kingdom - Fraud Intelligence Limited

Founded as a UK-incorporated Joint Venture between ORILLION and SORAMITSU, Fraud Intelligence Limited is delighted to announce further enhancements to the Fraud Intelligence Blockchain. This community-led platform enables all to share fraud intelligence for the common good.

The update, which brings the Fraud Intelligence platform to version 1.3.2, includes important features such as:

The addition of Flash Calling identifiers reflects input from our members who have identified Flash Calling as a bypass mechanism for SMS A2P termination rates.

While Flash Calling is not universally classified as a fraud in all jurisdictions, its use in schemes to evade legitimate SMS fees poses significant risks to telco revenues.

By incorporating Flash Calling into the ledger, we aim to provide a more comprehensive view of threats facing our members and enable better detection, prevention, and mitigation of revenue leakage. The addition also underscores our commitment to addressing member concerns and evolving the ledger to reflect the dynamic landscape of fraud.

A significant problem for telcos and banks – the URLs that appear in SMS, WhatsApp, and email (in fact, any messaging platform) that purport to be from reputable companies but eventually lead to fraudulent account takeover or credential gathering. Phishing URLs are one of the significant causes of major security breaches and data loss and is considered one of the most disruptive forms of cybercrime.

Providing rewards for Uploading / Flagging. This new feature creates a differentiated rewards matrix and value by segmenting between Flagging vs. Uploading data.

This incentivises certain behaviours that can benefit the community and the FIB platform and ecosystem.

We are happy to present the platform's new version, which is focused on supporting more fraud types and giving better flexibility for utilising the rewards lifecycle. Our goal is to make sure the technology keeps up with real market needs and helps businesses stay capable of fighting relevant fraud challenges. Customer satisfaction is essential for us, and we are proud to bring updates that reflect their expectations and feedback.

— Bogdan Mingela, Soramitsu

The impact of A2P SMS termination rate bypass on telco revenues and social engineering scams on customers globally is significant, prompting governments, regulators, and telcos to take decisive action. By adding Flash Calling and scam URL identifiers to the Fraud Intelligence Blockchain, we empower telcos to protect their revenue and customers better. These enhancements continue to build the value of a global, secure repository of fraud intelligence data, reinforcing our commitment to innovation and collaboration in the fight against fraud.

— Anthony Sani, CEO, Co-Founder, Orillion

Read the Fraud Intelligence Blockchain documentation and sign up here for more information.

About Soramitsu

Soramitsu is an award-winning global financial technology company with expertise in developing blockchain-based solutions for digital asset and identity management. Our mission is to use blockchain to promote innovation and solve pressing societal challenges. Soramitsu aims to deploy cutting-edge technology on a global scale in order to expedite financial inclusion and health, mitigate economic inefficiencies, and contribute to the fulfilment of the Sustainable Development Goals.

About Orillion

Orillion Solutions is a leading provider of solutions that unlock value for customers by using advanced data insights, innovative technology, and rapid solution design methods to help solve complex business and risk management problems. This includes the delivery of the largest fraud blockchain network in telecommunications, which is helping telcos and their customers prevent fraud more effectively.