ITW Global Leaders’ Forum (GLF), a leadership body of the International Carrier industry, today announced the publication of an industry-led Code of Conduct. The code is to reduce fraud in the international wholesale market in partnership with i3forum, a non-profit focused on supporting transformation in Carrier Business. The publication of the Code of Conduct represents an endorsement of i3Forum’s work in this critical area, and a key step in the industry’s leading players’ concerted effort to reduce fraud, which cost the industry an estimated $17 billion annually.
“As a body representing the commercial executive layer of international Carriers, the GLF is uniquely positioned to facilitate positive change in the industry. The launch of the Code of Conduct represents a critical step in addressing fraud in the industry and we encourage every Carrier to participate in it,” said Marc Halbfinger, Chairman of the GLF and CEO of PCCW Global.
The GLF membership consists of the CEOs and heads of divisions of the largest Carriers engaged in buying and selling wholesale telecoms services globally. Its purpose is to facilitate a healthy, interconnected and collaborative Carrier Ecosystem. Its partnership with i3forum to fight fraud is one of its many initiatives that support the long-term growth of Carrier business.
“Collaborating to fight Voice fraud is critical to the success of Carriers globally. It requires a joint effort and we’re proud to be working with the GLF to support Carriers as they protect and grow their businesses,” said Philippe Millet, Chairman of i3forum. “Our work groups, frameworks and recommendations are focused solely on creating lasting benefits for the industry and having a positive impact in the long term. Partnering with the GLF will expand our reach and help more Carriers successfully fight fraud.”
The Code of Conduct was developed in partnership with i3forum and it sets out the principles the Carriers have committed to adhere to, including:
- A commitment to monitor and report on fraudulent activity;
- Assisting in the investigation of fraud;
- Taking the appropriate and swift steps to stop payments to those who commit fraud;
- Implementing standard contractual clauses to harmonise the treatment of fraud.
“Voice services remain one of the key products offered by international wholesale Carriers but fraudulent activity continues to have material negative impact not only for the Carriers, but also the end-users. i3forum have made significant progress in defining fraud and identifying best practices in dealing with cases of fraud, but these need to be adopted more widely across the industry participants. The Code of Conduct launched by the GLF sets out clearly what activities every Carrier should take to ensure fraud is eliminated from the industry,” said Daniel Kurgan, CEO of BICS, who leads the GLF fraud sub-committee.