Fraud is a lucrative playground for malicious actors, costing companies almost $39 billion in 2023. For example, SMS toll fraud, which exploits one-time passwords for digital identity authentication, is increasingly costly. In fact, businesses lost $10 billion to toll fraud in 2022. SMS scam texts are also a goldmine: worth $326 million in 2022, scammers ramped up the pressure, sending approximately 3 billion per week in 2023. Other malicious activity includes identity theft, account takeovers, and problematic numbers associated with fraudulent behavior.
To address these and other growing threats, Vonage and Amazon Web Services (AWS) have joined forces to deliver a multi-layered fraud protection software-as-a-service (SaaS) solution as an alternative to on-premises or hosted software deployments, SaaS enables you to capture new revenue through experimentation and innovation. It can also help you drive scalable agility, reduce costs, and accelerate innovation—all without investing resources in developing, maintaining and customizing software.
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