JAKARTA, Indonesia, Sept 5 (Bernama-BUSINESS WIRE) — 8×8, Inc. (NASDAQ: EGHT), a leading integrated cloud contact center, unified communications and Communications Platform as a Service (CPaaS) platform provider, today announced the 8×8 Omni Shield solution, allowing enterprises to proactively safeguard their customers from fraudulent SMS activity. The new SMS fraud prevention communication API is part of the 8×8 CPaaS portfolio, which helps enterprises drive business growth by integrating various communication channels, including SMS, voice, chat apps, and video interaction, to enhance customer experience.
SMS fraud is the automation of delivery of high-volume, high-cost SMS messages that cybercriminals can monetize by having the messaging charges billed to unsuspecting organizations. According to the Fraud Loss Survey Report 2021 by the Communications Fraud Control Association, fraudulent SMS activity, such as toll or international revenue share fraud, was estimated to have resulted in losses of over $6.7 billion globally in 2021. As the telecommunications industry grapples with significant losses, many SMS providers struggle to have an operational response to fraud. The need for advanced solutions has become increasingly evident, and 8×8 is taking a proactive stance to provide enterprises with the highest level of safeguarding for their customers.