MEF launches Future of Messaging Initiative to combat $2bn fraud across messaging apps
The growth of messaging apps has opened up new opportunities for brands to reach consumers, however fraud across the sector is costing the application to person (A2P) market around $2bn every year.
A new report from the global mobile trade body Mobile Ecosystem Forum (MEF) has identified the 11 distinct fraud types that are hurting the global messaging industry today and provides a framework for combating them.
The Future of Messaging framework was developed by 25 companies and is part of a two-year programme launched to create awareness and develop industry best practices in mobile messaging that accelerate market clean-up and advance innovation to support sustainable growth across the ecosystem.
The framework itself identifies the causes and impacts of each of the fraud types and will form the basis of future best practice guidelines to be rolled out during the programme.
While still relatively young the A2P market has grown significantly year-on-year with an increasing number of brands using it as a means of delivering marketing campaigns as well as customer engagement and authentication.
Programme director and MEF chief operating officer, Joanne Lacey, said the prevalence of fraud across the platform “directly impacts monetisation today and threatens the market’s ability to sustain growth”.
MEF chief executive, Rimma Perelmuter, added: “It’s essential that the industry works together to advance the future of messaging.
"Taking a cross-ecosystem approach representing the consumer and enterprise perspectives and fully reflecting the priorities of networks and the broader messaging industry will ensure that this initiative delivers long-term impact and enable this flourishing sector to unleash its full potential.”
Below is the list of 11 fraud types.