Name: The Evolution of SMS Toll Fraud: Understanding the Threats and Solutions
Start: 2023-03-14T17:00:00Z
End: 2023-03-14T17:00:29.000Z
Location: BrightTALK

Arkose Labs is the leading global account security company, offering device ID, phishing protection, email intelligence and bot management. The biggest enterprises in the world, including two of the top three banks, Microsoft, Expedia, Roblox, rely on it to stop account takeovers, fake account creations and SMS toll fraud. Drawing on insights from its extensive cross-industry intelligence network—encompassing legitimate and attack patterns from the world’s leading companies. No other vendor provides more proactive support for internal security teams, actively takes down threat actor groups or excels like Arkose Labs in sabotaging the profitability of the most advanced attackers. Based in San Mateo, CA, Arkose Labs operates worldwide with offices in APAC, Central America, EMEA and South America.


Join us for a webinar revealing new insights on loyalty program fraud. LSA and Arkose Labs surveyed frequent travelers and found that up to 5% have had their accounts compromised, with some losing up to $5,000 in stolen value.

Frank Teruel, CFO of Arkose Labs, and Loyalty Security Alliance co-founder Michael Smith will share key findings from the survey and discuss strategies for enhanced member protection, including against the growing threat of Agentic AI.

The Silent Threat: Unmasking Loyalty Fraud & Account Takeover

Traditional device fingerprinting has reached its limits. Privacy regulations like GDPR are restricting data collection, sophisticated attackers easily spoof static identifiers, and users demand frictionless experiences. It's time to evolve from asking "what is this device?" to "how does this device behave?

Join Casey Joyce, Product Lead at Arkose Labs, for this essential 30-minute technical interview that will reshape how you think about device identification and modern threat detection. You'll learn: 

The Three Critical Challenges: Master collision, division, and persistence challenges in device identification
Privacy-Security Balance: Navigate GDPR/CCPA compliance while maintaining threat detection effectiveness
Behavioral Intelligence: Implement dynamic pattern recognition that's harder to spoof than static fingerprinting
Multi-layered Identifier Strategy: Deploy layered identification approaches for contextualized and comprehensive coverage
Hybrid Attack Detection: Catch bot-to-human pivots and human-assisted automation with integrated solutions
Future-Proofing Methods: Prepare for AI-powered evasion and cross-platform security challenges

Beyond Device Recognition: Why How You Identify Devices Matters

Prevent account takeovers and MFA compromise with real-time detection that stops sophisticated adversary-in-the-middle reverse proxy attacks.

Arkose Phishing Protection

Stop bots and bad actors from using fake, throwaway and other risky email addresses—right from the first interaction.

Arkose Email Intelligence

Detect, disrupt and defeat advanced bot and human-driven attacks with precision—all while keeping your legitimate users moving smoothly through your digital experience.

Arkose Bot Manager

See how this revolutionary technology identifies trusted devices while exposing fraudsters in milliseconds. Watch Arkose Device ID use deterministic data to stop account takeovers, payment fraud, and account sharing before they happen. Don’t just react to attacks—recognize and block them at first sight. Your legitimate users get seamless experiences while fraudsters get shown the door. A leading U.S. fintech achieved a remarkable 75% reduction in account takeovers with this powerful solution – see how you can too.

Arkose Labs - Device ID

Fintech innovators and financial services institutions alike are navigating a broadly uncertain economic environment spiked by acute upheavals such as the collapse of FTX and Silicon Valley Bank. But these crises are also dramatic illustrations of why fear and chaos create a perfect storm for risk and abuse.

Cybercriminals already are jumping aggressively to exploit customer fears – and are armed with a new generation of technology. These new criminal weapons enable potent attacks that evade traditional cyberdefenses, rendering even “gold standard” controls like 2FA/MFA ineffective. 

Our experts will:

Discuss the strategic decisions executive and security leaders in fintech must address during this time of crisis
Uncover the mercenary schemes and technical tools bad actors are deploying, and
Identify practical ways security and anti-fraud teams can deliver outsized impact to stop attacks, reduce costs, and restore customer trust.

How Criminals Exploit Economic Turbulence and New Technology to Attack Fintechs and Banks

SMS toll fraud is an evolving threat, and attackers’ methods are constantly changing. Toll fraud has a complex, multistep attack flow that malware developers continue to improve, and it’s costing businesses millions of dollars a month in fraudulent SMS charges.

In The Evolution of SMS Toll Fraud: Understanding the Threats and Solutions, hosted by Arkose Labs Founder and CEO, Kevin Gosschalk and Nick Reva, Engineering Manager, Security Engineering at Snap Inc, attendees will gain a deeper understanding of the evolving threat of SMS toll fraud and the ways in which malicious bots are used to perpetrate it. 

The webinar will explore: 

Techniques used in human- and bot-driven attacks
The latest bot mitigation solutions
Best practices for protecting your organization
The webinar will be of particular interest to CISOs who want to develop a comprehensive strategy for mitigating the risks and threats associated with SMS fraud.

The Evolution of SMS Toll Fraud: Understanding the Threats and Solutions

An army of bots is on the move and gaining strength. The evidence? Malicious bot attacks more than doubled while intelligent bot attacks rose nearly fourfold from Q1 to Q2 this year.

These are just two of the data points uncovered in Breaking (Bad) Bots: Bot Abuse Analysis and Other Fraud Benchmarks, a new report from Arkose Labs threat researchers. Cybersecurity leaders are at a critical juncture where, thanks to GenAI and Cybercrime-as-a-Service, bot infiltration has escalated to crisis proportions, demanding a fresh perspective by the cybersecurity community.

Join us as we dive into this research, where you will gain:

An in-depth look at emerging trends and ever-evolving tactics
Insight into benchmarks across industries and attack vectors
An exploration of innovative defensive measures and strategies
Deepen your understanding of how to simultaneously build corporate resilience and consumer trust in the contemporary attack landscape.

Insights from Breaking (Bad) Bots: Bot Abuse Analysis and Other Fraud Benchmarks

In the ever-evolving landscape of cyber threats, organizations are sitting on a goldmine of untapped potential within their existing security infrastructure. Our expert panel will guide you through innovative strategies to leverage your current tools for enhanced threat intelligence capabilities. Discover practical insights on optimizing SIEMs, leveraging endpoint protection data, and harnessing the power of network monitoring for a comprehensive threat intelligence approach.

Speaker:

Moderator: Mandy Logan, Brainstem Hacker and InfoSec Enthusiast, Redacted
Vikas Shetty, Vice President of Product Management, Arkose Labs
Jonathan Trimble – former CTO of FBI’s Information Management Division and CISO of a Midwest-based financial institution
Corey Kaemming – Sr. Director Information Security @ Valvoline

Supercharging Your Threat Intelligence With the Tools you Already Have

Cybercriminals and fraudsters are increasingly exploiting advanced technologies and business workflows, making cybercrime a high-return investment. One prevalent scheme is SMS toll fraud, or international revenue sharing fraud (IRSF), which targets businesses' text message-based digital identity processes like one-time passwords (OTP) for sign-ins and registrations. Global organizations reliant on SMS workflows face significant financial losses and reduced efficiency; in 2023 alone, businesses lost $39 billion to SMS toll fraud, according to the Communications Fraud Control Association. CFOs often notice this threat first through large bills – but quick, measured responses can save money, preserve reputation, reduce cleanup costs and enhance shareholder value.

Stream the webinar to:

- Understand the impact of SMS toll fraud on your business.
- Learn prevention and mitigation strategies you can apply.
- Develop resilient financial strategies for your enterprise against SMS toll fraud.

The Cyber Scam CFOs See First

Our experts forecast the top fraud trends and cybersecurity challenges anticipated for 2025, providing insights to help businesses stay ahead of emerging threats.

Fraud Fighters Unplugged - 2025 predictions

Our Sales leader Sam Nik-Pay takes us on a journey through his career, sharing pivotal moments, and the innovative approaches he’s brought to fighting fraud.

Fraud Fighters Unplugged: Sam Nik-Pay from Valley to Valley

The industry experts of this episode delve into the tactics fraudsters use to exploit airline loyalty programs and how to safeguard these valuable assets.

Fraud Fighters Unplugged - Airline Industry

Our experts delve into the latest research on AI's impact on digital fraud and cyber defenses, uncovering how enterprises are responding to the rise of AI-powered attacks.

Fraud Fighters Unplugged: AI survey

In this episode, Theresa Payton, a renowned cybersecurity expert, shares her insights on combating cyber threats and fraud in the digital age.

Fraud Fighters Unplugged - with Theresa Payton

This episode delves into the complexities of "unknown sessions" in cybersecurity, shedding light on their implications for fraud prevention.

Fraud Fighters Unplugged: Unknown Sessions

This episode explores how significant data breaches can escalate into widespread scams, impacting both businesses and consumers.

Fraud Fighters Unplugged - Big Breaches lead to Big Scams

SMS toll fraud is an evolving threat, and attackers’ methods are constantly changing. Toll fraud has a complex, multistep attack flow that malware developers continue to improve, and it’s costing businesses millions of dollars a month in fraudulent SMS charges.

In The Evolution of SMS Toll Fraud: Understanding the Threats and Solutions, hosted by Arkose Labs Founder and CEO, Kevin Gosschalk and Nick Reva, Engineering Manager, Security Engineering at Snap Inc, attendees will gain a deeper understanding of the evolving threat of SMS toll fraud and the ways in which malicious bots are used to perpetrate it. 

The webinar will explore: 

-Techniques used in human- and bot-driven attacks
-The latest bot mitigation solutions
-Best practices for protecting your organization
-The webinar will be of particular interest to CISOs who want to develop a comprehensive strategy for mitigating the risks and threats associated with SMS fraud

Cybercrime

Cyber Attacks

Cyber Security

Threat Detection

Cyber Risk Management

Bot management

Account protection

Arkose Labs

Get powerful e-commerce insights to grow your online transaction volume. Connect with thought leaders and colleagues to get the most up-to-date knowledge on the e-commerce strategies and techniques that drive growth.

E-commerce

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Marketing

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IT Security

Increasing expectations for good governance, effective risk management and complex demands for corporate compliance are presenting a growing challenge for organizations of all sizes. Join industry thought leaders as they provide you with practical advice on how to implement successful risk and compliance management strategies across your organization. Browse risk management resources in the form of interactive webinars and videos and ask questions of expert GRC professionals.

IT Governance, Risk and Compliance

As an IT professional, many of the problems you face are multifaceted, complex and don’t lend themselves to simple solutions. The information technology community features useful and free information technology resources. Join to browse thousands of videos and webinars on ITIL best practices, IT security strategy and more presented by leading CTOs, CIOs and other technology experts.

Information Technology

Join this new, vibrant community to learn and connect with top thought leaders, startups and banks who are disrupting the financial services industry. Keep up with the latest news and trends in Fintech and take part in lively debates on topical issues and challenges.

Fintech

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The Evolution of SMS Toll Fraud: Understanding the Threats and Solutions

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Arkose Labs