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2023, Wow, What a year!

by | Dec 27, 2023 | News | 0 comments

Three Educational Events, Two Insightful Surveys, Two Recognition Awards, and much more… 

2023 is coming to a close, with the last few days of December before we welcome a new year, and what a very productive year 2023 was for CFCA. With so many CFCA activities impacted by the pandemic over the past few years, this year has been a momentous year for increased attendance at our Educational Events. The quality of the CFCA speakers and contributors has been phenomenal, including financial institutions, communication service providers, solution providers, industry experts, and experienced practitioners who have all been attracted to attend and contribute to the mutual objective of eradicating fraud.

Three Events, Three Cities, Hundreds of Attendees

With three events held this year in San Francisco, Seattle, and our Fall event in Lake Mary, Florida peaking with well over 100 attendees, with all three events having a great lineup of speakers and presenters providing insights, experiences, and thought leadership. CFCA is looking forward to exciting announcements for next year’s events locations, collaborations, and content, with preliminary planning for a collaboration on the 2024 Spring Educational Event with NCFTA to be held between 23rd-25th April in Pittsburgh, Pennsylvania. More information on this event and others will be posted as it becomes available. https://cfca.org/events/

Getting To Know In Our KNOWS

As well as the face-to-face educational events, CFCA has been extremely busy hosting regular online KNOW Sessions that provide a great opportunity for communication service providers to discuss topical fraud issues being faced in their daily operations, these have consistently been well attended with extremely constructive discussions filling the hour sessions.  As well as the monthly KNOW sessions, there have been several guest webinars providing insights on future fraud threats and experiences, and we welcome more of these next year.

Fraud Loss Insights

CFCA undertook two extensive surveys this year including the Handset Fraud Loss Survey published in July and the Global Fraud Loss Survey published in November which provided a wide range of insights from the wider telecommunications industry.

In this year’s survey, subscription fraud has come to the fore – with Application fraud, Credit Mules (first party), and identity fraud being the main drivers. Changes in the customer engagement process and global economic conditions have driven a large surge in particular issues within many markets with scams being experienced in the financial services sector being linked to this increase.

Growing Membership

Individual CFCA Membership has continued to grow this year with an increase in financial institutions joining the membership on the back of the insightful discussions, presentations, and panel sessions that combined both telecom and financial industries in collaboration to fight fraud as well as a direct reflection in the recent fraud loss survey, in 2024 this relationship between both industries will be a major initiative for CFCA. For a full list of member companies https://cfca.org/member-companies/

New CFCA Committee

A new committee this year is the Handset Trafficking Task Force (HTTF)  founded in August that will look to support activities in reducing device fraud that has risen in prominence to become a major revenue loss for CSPs in 2023. For a full list of committees please see https://cfca.org/committees/

Recognition

This year CFCA reintroduced the Lifetime Achievement Award as well as the Hall of Fame, recognising individuals who have contributed to the success of CFCA as well as in the wider fight against telecom fraud. At our Fall Educational event in Florida, four of the inductees attended in person to pick up their awards.

Photo: L-R Clemmie Scott, Larry Q. Kepfer, Mark Churches and John Frost Hall of Fame and Lifetime Achievement entrants

This year the Lifetime Achievement Award went to Mark Churches, Spark NZ, New Zealand who retired this year after a long service to telecoms fraud and supporting CFCA. A full list of Hall of Fame entrants can be found at https://cfca.org/cfca-awards/

Our Sponsors in 2023

We will shortly be announcing our sponsors for 2024 and take this opportunity to show our gratitude to our 2023 sponsors, without our sponsors we will not be able to provide the events, content, materials, and opportunity to continue the great work that was first instigated way back in 1985 when CFCA was founded. Thank you Fico, Somos, LexisNexis Risk Solutions, AB Handshake, Hewlett Packard Enterprise, Numeracle, Araxxe, and Equinox for your support.

What will 2024 bring?

These are just some of the highlights from this year, so what will 2024 bring? Watch this space for announcements on next year’s locations of educational events, new collaborations, new industry partnerships, new initiatives, and constructive activities in the fight against fraud. For sure 2024 will be a momentous one!

If you are not a CFCA member, maybe you should take this opportunity to join to take advantage of being part of this exciting industry group.

Thank you!

We would like to take the opportunity to thank everyone who has contributed to CFCA in 2023, from our new members who joined this year, to our long-standing loyal members who have been a continuous support, our 2023 sponsors, our speakers, and contributors, and our committee members who have volunteered their time to support CFCA activities in 2023. We look forward to seeing you all in 2024.

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