Many services are based on the expectation of universal access to network services without the need for complex business arrangements between communication service providers. With 5G, however, this is increasingly looking impossible. When a breakdown occurs on the Service Level Agreements (SLAs) between the CSP and partners, CSPs not only bear the brunt of the customer’s dissatisfaction but also can lose mindshare with their partners and run the risk of penalties and partner churn. The complexity of managing network slices and accurately charging, billing, and settling for the services underscores the importance that CSPs need to have 5G-ready revenue assurance strategies in place so that any revenues generated are captured and not lost to leakage. This becomes more complex when it comes to cost, margin, and finally experience assurance!

#3: Don’t leave the back gate open to fraud and security threats

IoT is undoubtably a rising security and fraud threat that CSPs must address immediately. Research published in January 2020 concluded that a security threat of smart light bulbs that was identified back in 2016 still lingers today. Where a smart light bulb may be an innocuous device to some, it can provide a lucrative entry point for hackers to commandeer entire networks. The security and fraud risks don’t stop there. Hackers today are still abusing vulnerabilities in SS7 and Diameter protocols to send SPAM, spoof calls, track subscribers’ locations, intercept SMS and calls, and conduct subscriber fraud, routing attacks and denial of service attacks. 

A network is only as secure as its weakest roaming and interconnection partner. While 5G security protocols offer controls far surpassing those of previous generations, network operators will still be exposed to SS7 and Diameter vulnerabilities till the 5G networks become ubiquitous. Consequently, CSPs have to consider security with a broader view that looks at cross-protocol threats, threats to network as well as to its subscribers, and threats to its partner eco-system. The 5G SEPPs have to secure macro as well as micro network boundaries, and the trust zones have to be established at the slice level, and not just the N32 network boundaries.

When it comes to network slices, in an era where multiple MVNOs will share infrastructure, strict isolation at multiple levels will be required to ensure absolute security and privacy.  This is where fraud and security management must be closely integrated and prioritized in the age of 5G. As technology gives the mobile handset an increasingly pivotal role in banking, payments, identity management and two-factor authentication, promoting trust in the handset and in the network now becomes mission critical for CSPs, especially as IoT takes flight. Consumers are no longer tolerant about security breaches. They expect the same security safeguards when it comes to their smart light bulbs as they would during remote surgery. In fact, according to recent research sponsored by Mobileum, 58 percent of enterprises and 52 percent of consumers said that they would leave their operator in the event of a security breach.

To address the risks, fraud and security teams need to compete with the level of sophistication of the tools that today’s hackers are already utilizing. AI, machine learning, automation and cross-protocol firewalls are just a few instruments that will be key to monitoring, detecting and minimizing the risks of security and fraud attacks in the 5G era. When supercharged with AI, machine learning and automation, fraud teams will have the ability to detect threats, uncover unknown, emerging threats and take action to shut them down faster. With cross-protocol signaling firewalls, CSPs have the added protections to monitor and control SS7, Diameter, Voice (SIP/ISUP), IMS, GTP, and 5G HTTP signaling streams in order to guard subscribers and services from these threats. 

Industry analysts project that the short-term outlook for 5G will consist of high CAPEX investments followed by flat 5G revenues. In order to accelerate their 5G return on investment, Communications Service Providers must invest in the technologies and tools that help them to monetize 5G premium experiences, assure their revenue gains and protect themselves—and their customers—from the growing list of fraud and security threats.