One Communications CEO urges stronger telecom security as mobile fraud risks grow

One Communications Guyana Chief Executive Officer (CEO) Abraham Smith has called on telecommunications operators across the Caribbean to strengthen their approach to security and fraud as mobile numbers become increasingly linked to financial transactions, digital identities and access to essential services. Smith made the call while participating in the 41st Caribbean Association of National Telecommunication Organisations (CANTO) Conference, held under the theme “From Connectivity to Global Competitiveness.” He addressed the GSMA Technology Summit, which brought together industry leaders and experts to examine technologies and priorities shaping the region’s mobile ecosystem.

Smith said the role of mobile numbers has changed significantly over the past two decades. While they were once primarily used for calls and text messages, mobile numbers are now commonly used to authenticate bank accounts, authorise transactions, recover passwords and access Government and other digital services.

“Over time, we have now become these custodians of trust,” Smith said, stressing that telecommunications companies must increasingly consider the broader identity and trust ecosystem connected to their services. He pointed to SIM swaps as an example of how routine telecommunications processes can present greater risks in the current digital environment. A SIM replacement request, for instance, could potentially be used to gain control of a customer’s mobile number and subsequently facilitate an account takeover or unauthorised financial transaction where the number is used for identity verification. Smith said operators must move beyond traditional telecommunications fraud, including SIM box and roaming fraud, and address threats that increasingly overlap with the financial and digital sectors. He identified four areas that require greater attention from operators.

First, Smith said Know Your Customer (KYC) procedures and customer onboarding should be viewed as strategic security and trust-building tools rather than simply regulatory requirements. Second, telecommunications companies should expand their fraud expertise to include financial scams, account takeover attempts, agent fraud and digital identity abuse. This, he noted, may require operators to draw on expertise traditionally associated with banking and financial services. Third, he said identity management should become a central enterprise risk priority, with processes such as SIM replacement, device replacement and customer verification subject to stronger security measures. Smith also called for greater collaboration among telecommunications operators, mobile money providers, banks, fintech companies and regulators. “The threat actors already collaborate, and so our defence ecosystem needs to adapt as well,” he told the forum. He said the issue is becoming increasingly important as Caribbean countries accelerate digital transformation and consumers rely more heavily on mobile connectivity to conduct financial transactions and access digital services.

According to Smith, vulnerabilities in identity and authentication processes can now have consequences beyond telecommunications networks and operator revenues, making regional cooperation essential to addressing emerging threats.

“It’s already a problem. We see it every single day. But I know as we work together we can overcome it,” he said.

Smith’s participation at the CANTO Conference is part of One Communications’ engagement with regional industry leaders on telecommunications, security and the continuing digital transformation of Caribbean economies.