France Leads the Charge in Combating Fraud with New Telco APIs
France’s major mobile operators – Bouygues Telecom, Free, Orange, and SFR – join forces to introduce innovative tools designed to protect online businesses and consumers from a surge in digital fraud. This groundbreaking initiative, spearheaded by the GSMA Open Gateway initiative, marks the first deployment of its kind worldwide.
Protecting Consumers仰 Data in a Digital World
In an increasingly interconnected world, online transactions and digital services have become commonplace. Since the COVID-19 pandemic, France has witnessed a 37% surge in online transactions, with a staggering 2.35 billion euros changing hands in 2023 alone. Notably, 77% of these transactions were conducted via mobile devices, highlighting the growing reliance on mobile technology for financial activities.
This shift towards digital has unfortunately coincided with a parallel rise in online fraud attempts. A worrying 80% of French companies report experiencing online fraud threats, with 45% observing a steep increase in such incidents over the last year. Furthermore, digital identity theft cases have surged by 40% in the past four years, according to the French Interior Ministry, underscoring the gravity of the situation.
KYC Match and SIM Swap: Powerful New Tools Against Fraud
To combat these rising threats, the four leading operators are introducing two new application programmable interfaces (APIs): KYC Match and SIM Swap, both developed and deployed based on the new CAMARA standard that aims to unify specifications for all mobile operators.
“The goal is to provide app developers and companies with the tools they need to combat online fraud and protect the digital identities of their customers,” explains [Quote from a relevant spokesperson].
KYC Match allows online businesses to verify the identity of new customers with ease and accuracy. This API streamlines the know-your-customer process, enhancing user experience while minimizing the risk of fraudulent registrations.
SIM Swap, on the other hand, tackles the growing threat of SIM swapping attacks. By integrating this API, businesses can add an extra layer of protection by verifying the legitimacy of SIM card changes, effectively safeguarding user accounts from unauthorized access.
Early Adoption and Testament to Effectiveness
The APIs have already undergone rigorous testing and are being utilized by several French financial institutions, including BforBank (the online branch of Credit Agricole) and Fortuneo (a subsidiary of Credit Mutuel Arkéa). These institutions have integrated KYC Match to proactively verify new customer identities in collaboration with DQE Software, demonstrating the API’s real-world applicability and efficacy.
More than twenty companies in France have already embraced these Telco APIs, incorporating them into their existing systems to prevent fraud during account takeover attempts and verify customer identities throughout transactions and onboarding processes.
A Global Initiative for a Secure Digital Future
The launch of these APIs marks an important milestone in the GSMA Open Gateway initiative. This global effort aims to simplify the development of digital products that function seamlessly across diverse devices and networks, transcending geographical limitations.
Since its inception, the GSMA Open Gateway initiative has garnered significant momentum, with 67 mobile network groups representing a vast network of 278 networks, covering three-quarters of all mobile connections worldwide. Additionally, 26 sales partners have joined this collaborative movement, highlighting the industry’s commitment to a secure and interconnected digital future.
What are KYC Match and SIM Swap, and how do they work to prevent fraud?
## Fighting Fraud: A Chat with France’s Telecom Pioneers
**Interviewer:** Today, we’re joined by [Spokesperson’s name], spokesperson for the collaborative initiative by France’s major mobile operators to combat online fraud. Welcome to the show!
**Spokesperson:** Thank you for having me.
**Interviewer:** France has seen a staggering rise in online transactions since the pandemic, which unfortunately coincides with a surge in fraud attempts. Can you tell us more about the challenges this presents?
**Spokesperson:** Absolutely. The shift to digital is undeniable, and while it brings many benefits, it also makes us more vulnerable. We’ve seen a significant increase in attempts to steal data and commit fraud, putting both individuals and businesses at risk. [Cite statistic about the rise in online fraud threats from article text].
**Interviewer:** That’s alarming. What are the French mobile operators doing to address this issue?
**Spokesperson:** We’ve joined forces – Bouygues Telecom, Free, Orange, and SFR – to launch two groundbreaking tools: KYC Match and SIM Swap. These new APIs, built on the CAMARA standard for unified specifications, are a game-changer in the fight against fraud.
**Interviewer:** Can you explain how these tools work?
**Spokesperson:** KYC Match simplifies the customer verification process for businesses by allowing them to quickly and accurately verify new customer identities. This streamlines the Know Your Customer process, making it more efficient and secure for everyone involved.
SIM Swap, on the other hand, tackles the issue of SIM hijacking,
where fraudsters take control of a user’s phone number to gain access to their accounts.
This API helps prevent such attacks, safeguarding user data and sensitive information.
**Interviewer:** These sound like powerful tools. What impact do you expect them to have on the fight against fraud in France?
**Spokesperson:** We believe these APIs will significantly reduce online fraud attempts and protect both consumers and businesses.
By working together and leveraging technology, we can create a safer and more secure digital environment for everyone.
**Interviewer:** This initiative seems like a positive step forward. Thank you for sharing your insights with us today.
**Spokesperson:** Thank you for having me. [1]