Fraud in international telecoms is no longer a remote nuisance, it has become a systemic threat. The 2025 GLF Fraud Report, compiled by FTI Consulting on behalf of the Global Leaders’ Forum (GLF), presents a stark picture: fraud is evolving faster than carriers can respond, and only a collaborative, technology-centric defence can hope to keep pace.

At a time when carriers are being squeezed on margins, reputational risk, and regulatory scrutiny, the report reveals why fraudulent traffic is now among the most critical priorities for operators worldwide.

Fraud becomes a boardroom issue

According to the report, 69% of carriers now classify fraudulent traffic as a “top priority”, which is the highest level recorded since GLF began tracking this metric. This is a meaningful jump from 64 percent in 2024, and far above earlier years.

77% of carriers anticipate raising investment in anti-fraud systems for both voice and SMS in 2025. These figures reflect a shift: fraud is no longer just a network operations issue, but a strategic risk. An overwhelming 88% of respondents now regard fraud management as either a “top” or “strategic” priority.

Respondents cite three core drivers behind this trend:

1. Financial sustainability: even small fraud incidents can meaningfully erode already thin voice margins.
2. Customer trust & brand risk: fraud damaging end-customer experience or perception can accelerate churn or regulatory backlash.
3. Regulatory and market pressure: as regulators, partners, and peers demand stronger controls, non-compliance is no longer tolerable.

The report warns that fraud must not be relegated to reactive mode; senior leadership must embed prevention into strategy, not just operations.

Voice fraud

Perhaps the most encouraging sign in this year’s data: 52%of carriers report that both the volume and impact of international voice fraud have reduced year-on-year, pushing the envelope for collective progress. That said, the landscape remains treacherous.

Among the fraud types that continue to trouble carriers:

• International Revenue Share Fraud (IRSF) – exploited via roaming and interconnect loopholes — remains dominant, with 67 percent of respondents reporting high volumes.
• CLI spoofing (caller ID manipulation) continues to surge in both volume and financial impact, reported by 59 percent of carriers.
• Missed Call Campaigns / Wangiri fraud also remain a thorny issue, being harder to detect in real time, and often relying on user callbacks to premium-rate numbers.

While reductions are encouraging, the report cautions: fraudsters adapt fast, and gains can be reversed without vigilant updates to systems, rules, and intelligence sharing.

Worryingly, fraud is increasingly global. The report highlights that IRSF is no longer a problem confined to a few markets; high incidences are now being reported across both developed and emerging markets. Among the top countries flagged for IRSF are Tunisia, Burundi, Madagascar, the U.S., and Spain.

Messaging fraud

Messaging fraud remains intense, though the data suggests modest improvement in parts of the ecosystem. 35% of carriers reported an increase in messaging fraud volumes – a drop of 20% compared to 2024.

Key threats identified:

• Smishing (SMS phishing): 61% of carriers report high volumes.
• Artificially Inflated Traffic (AIT: prevailing at 54%.
• SMS originator spoofing remains a notable vector, though at lower prevalence (33%).
• Still, messaging fraud remains highly profitable and damaging, especially when leveraged in tandem with voice or as entry vectors to more elaborate schemes.

Unwanted traffic

Beyond classic fraud lies another challenge: unwanted: spam calls, robocalls, phishing. Over 53 percent of carriers report high volumes of such traffic.

The knock-on impacts are material:

• 83% of carriers say unwanted traffic undermines customer trust.
• 63% warn that regulatory scrutiny is rising in response.

Unwanted traffic may not always manifest as direct revenue loss, but it corrodes brand value, burdens networks, and strains compliance regimes, making it both a symptom and amplifier of fraud risk.

Collaboration

One of the most compelling findings is the importance of collaboration and trust among carriers.

• 47% of respondents believe peers now show a “high commitment” to fighting fraud.
• 48% say a peer’s compliance with the GLF Code of Conduct influences their willingness to trade with them.
• 74% support establishment of a peer-review rating of compliance to improve transparency.

To sustain this momentum, the report calls for:

• More real-time, cross-border intelligence sharing
• Regulatory alignment across jurisdictions
• Verifiable, peer-reviewed compliance metrics
• Enforceable contractual blocks on fraudulent traffic

The road ahead

The 2025 GLF Fraud Report offers a clear prescription for the path forward and warns that the alternative is stagnation.

Technology and systems must be at the core. Carriers are increasingly deploying AI/ML models, anomaly detection, and near real-time blocking embedded into traffic management systems.

Yet tools alone won’t suffice. Intelligence sharing – across carriers, regulators, and third-party platforms – is essential to spot cross-network patterns and emergent threats. The report calls for unified frameworks and standard protocols to facilitate this.

Accountability and peer pressure are also gaining importance. The GLF’s push for peer review and compliance ratings is intended to make fraud resistance not just a technical obligation, but a trade requirement.

Finally, the report doesn’t shy away from realism – fraud cannot be eliminated entirely. But by tightening the gaps, adapting continuously, and acting in lockstep, the industry can shift the balance decisively in its favour.

The 2025 GLF Fraud Report warns that in an era of accelerating fraud sophistication, isolated efforts won’t suffice. Carriers must unite, deploy intelligent systems, and hold each other to higher standards – or risk seeing fraud erode the very foundation of wholesale telecom trust.

Read the report in full here.