"SIM Box Fraud to Drive 700% Surge in Roaming Scams"

According to security researchers at Juniper Research, the volume of global roaming fraud traffic is set to increase by a staggering 700% over the coming five years as scammers look to tap a growing market.  In the new study, the researchers assessed the size of the global roaming market across data, IoT, SMS, and voice and estimated operator losses due to fraud.  The researchers also evaluated the readiness of 60 countries to combat these emerging fraud techniques and their adoption of roaming fraud mitigation solutions and assessed 14 solutions currently on the market.  The researchers predicted that global outbound roaming data will grow from 230,000 PB in 2023 to over 2.2 million PB by 2028, driven by data-intensive 5G roaming connections.  The researchers claimed that thanks to techniques like SIM box fraud, the growth in fraudulent data roaming traffic will reach 218 PB by 2028.  SIM box fraud is a type of “interconnected bypass” scam where threat actors intercept international calls and route them to a local device known as a SIM box.  The researchers noted that roaming vendors interviewed agreed that bilateral 5G roaming agreements are now needed to detect these fraudulent connections and help operators to maximize future roaming revenue.  The researchers noted that the market is expected to generate $8bn globally by 2028.

Infosecurity reports: "SIM Box Fraud to Drive 700% Surge in Roaming Scams"