This topic is a very important to anyone who willing to become a Telecom Fraud Management Professional.
Since we are talking about a telecommunication industry, it’s obvious that we are discussing about a technology based company. Hence you should posses a good knowledge in Information Technology to enter into Telecom Fraud Management. That helps you to understand all sort of system mechanisms & no one can provide you false information regarding any of data hierarchies/data models, which is very important to our profession. You should be able to understand what systems do what in term of business perspective. Also it is essential to identify input & output of systems & processes within the company.
“Sometimes what you can see is not the truth” you should follow this phrase before you come into any conclusion regarding any analysis. You should work with your brain to solve problems by looking at evidence as well as clues. You should act like an investigator until you come across the actual situation. This is not so easy to posses, but once you get your eye into the job you will understand what need to be done. Always remember to not to delay the investigation because during this time window, fraudster can hurt you & your company.
As a telecommunication Fraud Management professional you should create your own network. This is very important when it comes to an investigation. Always management wants you to find out what caused for fraudulent activities immediately. Then you will be able to apply counter measures to mitigate the fraud activity to reduce the revenue loss to the company. During this process sometimes you will come across with a new situation where you may not have any knowledge towards it. You need your network of FM professionals at this point. Once you acquire knowledge, it’s easy to apply counter measures immediately. It’s important to contact trustworthy employees to do it as soon as possible.
Experience in telecom technology, knowledge about processes/procedures of the company hold high value, in terms of the efficiency towards fraud management. Do not misunderstand that telecom fraud management is not auditing. This is purely a different line of work. Hence experiences in above mentioned areas are vital. Even if you were not handled fraud management earlier, experience towards the company will help you to do your job properly.
Telecommunication fraud management professional require to posses data mining skills. Also he/she should be able to convert source data into meaningful information. Structured Query Language (SQL) will help for data mining as well as retrieve data from a source database/etc. As a fraud management professional you should be able to handle different databases. That can include MS Accesses / Oracle or SQL server database. Because most of the time we need raw data to carry out an analysis when it comes to a fraudulent activity. If we can gather / process & analyze data by ourselves it would be an unbiased investigation where there will be no dependency towards the investigation.
Analysis skill will be the key to identify a fraudulent activity. Success of the fraud prevention or mitigation will be based on how you carry out you analysis. You should accurately provide your assumptions / presumes towards the situation. How good you handle the situation will be the forecast of the success.