fraud

 

Former WorldCom Chief Awaits Sentence

Bernard Ebbers, the former chief executive of WorldCom, symbolized an era of corporate malfeasance that drove some of the world’s largest and most venerated companies into ruin. Convicted by a jury last month of spearheading an $11 billion accounting fraud that led to the biggest bankruptcy in U.S. history, the 63-year-old Ebbers could spend the […]

WSJ: Former WorldCom Board Members Reach Settlement Agreement

Eleven former board members of WorldCom Inc. agreed to personally pay $20.2 million to settle a lawsuit related to the telecommunications carriers accounting fraud, the Wall Street Journal reported Monday. The agreement is among the settlements reached in a class-action lawsuit headed up by New York State Comptroller Alan Hevesi, the newspaper reported. Under the […]

Qwest Penalized in SEC Probe

In an agreement with the Securities and Exchange Commission, Qwest Communications International Inc. will pay a $250 million penalty over government accusations that it fraudulently recognized more than $3.8 billion in revenue and excluded $231 million in expenses between 1999 and 2002 as part of a strategy to meet optimistic revenue and earnings projections. Denver-based […]

XO Upgrades Fraud Management Software with Equinoxs Protector 10

Nashville-based Equinox Information Systems (Booth 217) announced that XO Communications Inc. (Booth 505) has upgraded its telecom fraud management software to Protector 10. Equinoxs Protector 10 provides real-time fraud protection to carriers by identifying instances in which a customers actual usage varies from expected usage in a manner that suggests fraudulent activity. XO has used […]

Fraud Lessons

Fraud, the art of earning money through the unauthorized and often unlawful use of a system, is well known in the circuit- switched telephony business. Traditional telcos have invested heavily to detect and prevent fraud - and for the most part they have been successful. In the nascent era of VoIP, many carriers are relearning old […]

Cutting Telecom Fraud May Impede Terrorists

By Frances Feld, CAE The fight against telecommunications fraud is not solely about staving off substantial revenue losses - $35 billion to $40 billion, according the Communications Fraud Control Association’s 2003 survey of carriers in 26 countries. It also is about preventing telephone companies from being unwitting accessories to crimes and terrorism. If it were possible […]

DCA Services Provides Daily Rating

DCA Services (Booth 527) now can provide clients with daily rating and real-time processing through BillPool, DCA’s new suite of rating and taxing programs. Each day BillPool automatically picks up call detail records from a carrier, stores them in DCA’s SQL database and then validates, costs and taxes the records. BillPool provides clients with a […]

MCI Reorganization Wins Court Approval, Emergence Expected in Early 2004

Posted: 12/2003 MCI Reorganization Wins Court Approval, Emergence Expected in Early 2004 A judge has approved the reorganization plan of MCI, paving the way for the No. 2 long-distance carrier to emerge from the largest bankruptcy in U.S. history. In national conference call, Michael Capellas, Chairman and CEO of MCI, revealed the Ashburn, Va., company […]

Owning the Revenue Stream

Posted: 10/2003 Owning the Revenue Stream Preparing for Profit Assurance in a Partner- & Content-driven Communications Market By Guy Alon Communications service providers are gearing up to play a significant role in the distribution of content. The expectation is that delivering content to customers will compensate for lower subscriber growth rates and falling prices in […]

Carrier Channel: SEC: WorldCom Execs Concealed Glut, Investigators Say

Posted: 7/2003 WorldCom Execs Concealed Glut, Investigators Say By Josh Long WorldComs Bernie Ebbers It is a familiar story. In 2000, ailing carriers sought to topple their rivals by undercutting them on price because most of the worlds network capacity was underutilized. WorldCom Inc. was not immune to the pressure: Line costs, which represented about […]

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