Telecommunication fraud – also known as “scam calls” or fraudulent calls – has become a huge problem for everyone. Consumers are getting numerous unwanted calls more frequently. In Singapore, victims in the country lost at least S$633.3 million to scams in 2021, many of whom were duped by fraudulent calls. The problem is so prevalent, that according to Toku’s Singapore Consumer Engagement Report, close to 90% of consumers have received scam calls.
At the same time, brands face a growing problem of being unable to reliably call their customers (because they are more wary of picking up scam calls). On top of all this, telco operators face a growing backlash from upset customers and regulators, and worse – stand to lose billions of dollars annually due to fraud.
So how can we deal with scam calls, make common abuses less prevalent, and restore trust in the authenticity of phone calls?
Enter AB Handshake, a global solution for call validation.
What is AB Handshake?
AB Handshake is a solution for telco operators that eliminates fraud on inbound and outbound voice traffic. It restores trust by validating each call using an advanced system of interaction between the operators.
How AB Handshake works to fight scam calls
Why fighting against fraud calls needs to be collaborative
Because different countries use different telecommunications technologies, it’s near impossible to have a consistent, cross-border solution that handles fraud. This is exactly where new operators like Toku can help. By joining the AB Handshake community, we are in effect expanding the ecosystem within which all voice traffic exchanges are safeguarded based on protocols with a long history of use.
The result of this collaborative effort?
Vastly improved customer experience, more consumer trust and loyalty, and more profitability for operators in the AB Handshake community.
How Toku’s move benefits customers and consumers
Toku has the most extensive PSTN replacement network in APAC, which positions it favourably to lead the charge against call fraud today.
By being the first telco service provider in Singapore and Southeast Asia to join the global AB Handshake Community, we’re helping our enterprise customers benefit from top-notch cloud communications without having to compromise on their reputation or their customers’ trust.
So, in effect, even if a customer is not actively participating in the AB network, by working with Toku, they automatically benefit from part of that protection. The AB Handshake system is thus a game-changer for the telco industry. It presents an excellent opportunity for the industry to act decisively and consign call fraud to the dustbin of history.