Fraudsters are damaging the trust of both enterprises and consumers and pushing them away from the world’s most ubiquitous communications channel: SMS. To mitigate this risk and protect consumers from harm, industry leaders have been collaborating to combat fraud which is estimated to cost the enterprise messaging ecosystem US$ 7.7bn annually in lost revenue.
Today, global trade body, Mobile Ecosystem Forum (MEF) has launched the Trust in Enterprise Messaging (TEM) service backed by an industry Code of Conduct for A2P (Applications to Person) SMS.
The global code sets out best practice for all actors operating within the A2P SMS sector and is based on 10 principles offering guidance on commercial, procedural and technical requirements as well as an emphasis on consumer protection.
The Code was developed by the 30+ participants of MEF’s Future of Messaging Programme that include MNOs Telefonica, Telenor and Vodafone, messaging companies and signalling providers.
TEM’s launch signatories include market leaders from the messaging ecosystem that, combined, send over 60 billion A2P SMS messages per annum.
A self-regulatory service, TEM accelerates market clean-up and educates enterprise messaging solution buyers about the threats of fraudulent practices and poor procurement processes.
The Code is essential to protect consumers from harm especially fraud such as spoofing(pretending to be someone you are not) and smishing(attempt to trick someone into revealing sensitive and private information).