Mobile fraud is everywhere these days—headlines about SIM swaps, account takeovers, and stolen identities are hard to miss. For everyday people, it’s personal: drained bank accounts, compromised data, and a sense of betrayal. For businesses, it’s a triple threat of financial losses, regulatory headaches, and damaged reputations.

A recent Merchant Risk Council (MRC) webinar brought this issue into focus, featuring Alex Walling and Mikko Jarva from Nokia, Andy Stegner from AT&T, and Dennis Wukovits from Verizon. They shared a compelling story about a new tool in the fight against fraud: network APIs. It wasn’t a dry tech talk—it felt like a glimpse into a future where fraudsters are outsmarted before they can strike.

The problem: fraudsters are always one step ahead

Fraud prevention has often felt like a losing battle. Passwords, one-time codes sent via SMS, and after-the-fact fraud detection systems aren’t cutting it anymore. Mikko Jarva from Nokia put it bluntly: “Passwords and SMS codes are no match for today’s fraudsters. They exploit every weak spot in the customer journey, and businesses need better tools to keep up.”

Take SIM swap fraud, for example. Criminals use social engineering and other techniques to obtain the information needed to transfer someone’s phone number to a new SIM card, hijacking their identity. Suddenly, those SMS security codes go straight to the fraudster. Dennis Wukovits from Verizon added, “SIM swaps get the headlines, but fraudsters also exploit device changes, location mismatches, and account recovery processes. It’s a much bigger problem.”

The question was clear: How do you stop fraud before it happens?

The game-changer: Network APIs

Here’s where the story gets exciting. Instead of patching up flawed systems, the speakers introduced a smarter approach—tapping directly into the telecom network.

Jarva explained it simply: “Network APIs let businesses check the network in real time. If a SIM swap just happened, a bank can know instantly before approving a big transaction.”

Think of it like a quick Q&A with the network: Has this SIM changed recently? Is this the usual device for this account? Does the location match the customer’s profile? These yes-or-no answers give businesses a powerful new way to verify identities without slowing things down.

Andy Stegner from AT&T highlighted the user experience: “This approach is seamless. It’s a behind-the-scenes check that doesn’t add hassle for customers.”

Real-world impact

The webinar turned the concept into reality by way of examples. Network APIs are already helping in the following areas:

• Bank and payment: Detecting high-risk account takeover activity related to recent SIM swaps.

• E-commerce: Alerting to suspect buys from unfamiliar devices.

• Digital services: Protecting logins without needing to use insecure SMS codes.

Stegner provided an example: "A number of our bank customers are testing this right now. They can confirm whether or not a SIM was substituted in the last 24 hours, a major red flag for fraud."

Wukovits went on, "This is a win for everyone. Customers have an improved experience, and companies have added protection."

These aren't ideas. They're real pilots showing the art of the possible.

Teamwork makes the dream work

This isn’t the story of one company; it’s about how an industry is coming together. Through initiatives like GSMA Open Gateway (OGI) and CAMARA, telecom giants are standardizing these APIs to work the same across carriers like AT&T, Verizon, T-Mobile, and even international providers.

Wukovits emphasized, “Businesses need APIs that work consistently, regardless of carrier. GSMA Open Gateway ensures that.”

Jarva added, “Developers shouldn’t have to rewrite code for every operator. With Open Gateway, we’re making it easy and consistent.”

It’s a team effort, and it’s working.

Privacy and security: striking the right balance

Of course, any story about data raises questions about privacy. Would people be OK with their network data being used?

Jarva was clear: “We’re not sharing personal details, just simple yes-or-no signals, like whether a SIM swap occurred. It’s secure and respects privacy.”

Wukovits echoed this: “The whole point is to protect users without exposing their sensitive info. Privacy is baked into the system.”

What’s next?

The webinar didn’t wrap up neatly, but it ended with a challenge. Fraud isn’t going away, but network APIs give businesses a chance to fight back proactively.

Jarva summarized: “We can’t keep playing catch-up with fraudsters. Network APIs let us stay ahead with real-time protection that works for both customers and businesses.”

Stegner urged action: “Businesses should jump in now, test these APIs, and see how they can fit into their workflows.”

The takeaway

Fraudsters are clever, but the good guys are catching up. Collaboration between telecom operators, tech providers, and businesses shows that innovation can tip the scales in favor of security.

By leveraging standardized network APIs available through our Network as Code platform, financial institutions can detect identity compromises in real time, authenticate users securely and silently, and align with evolving regulatory expectations. Modern digital identity must incorporate the network layer to remain robust. Anything less falls short in today’s threat landscape.

To learn more about how Network as Code helps enterprises fight fraud and strengthen their customers’ digital identity, visit our webpage.