09:21 AM EST - VERSES AI Inc. : Announced that a leading Australian telecommunications company has joined the Genius beta program to focus on one of the largest issues plaguing their industry globally: fraudulent or illegal use of telecommunications services. According to credit reporting agency, TransUnion, in 2023 $38.95 Billion was lost to telecom fraud and a report by The Global Leaders’ Forum (GLF), a network of leaders from the world’s largest international carriers, found that 64% of carriers state that fraudulent traffic is a top priority. One of the most common issues telecom operators face today is the prevalence of fraudulent access or hijacked accounts. Although there have been many advances in multi-factor authentication, there are just as many workarounds and hacks to circumvent them. VERSES AI Inc.
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Full Press Release: https://www.baystreet.ca/quotedata/quote.aspx?ticker=VERS%3AAQL&qmodStoryID=5421159046049113
