Insights

Somos Soundbytes - Fraud Fighters Unite S1E6: The Power of KYC with Stacy Graham

Nov 12, 2024

According to Socrates, a key to philosophical enlightenment is to “know thyself.” Similarly, a key to success in the telecom landscape is to Know Your Customer (KYC).  

In the season finale episode of Somos Soundbytes, host Jamie Zetterstrom, Somos' VP, Product Management, sat down with Stacy Graham, Trust and Assurance Policy Director at Sinch, to delve into the intricacies of KYC. 

Stacy, a seasoned fraud fighter with over fifteen years of experience, shared insights into the importance of KYC and its various facets, including KYT (Know Your Traffic) and Know Your Upstream Provider. She emphasized that KYC is not just about initial vetting, but also about ongoing monitoring and taking swift action against any illegal activities or anomalies. 

Stacy explained how KYC involves validating customer identities, understanding their business practices and monitoring their activities to ensure compliance. She highlighted the discrepancies in how different providers implement ongoing monitoring and the importance of having robust tools and access to industry-shared information. 

The conversation also touched on the role of industry associations like the Communications Fraud Control Association (CFCA) in promoting best practices and sharing knowledge. Stacy underscored the need for constant vigilance and adaptation to new regulations and emerging fraud tactics. 

Both Jaime and Stacy agreed on the critical role of KYC and discussed how companies can leverage data and tools from organizations like Somos to enhance their vetting processes to help ensure the integrity of their networks. 

Check out the full episode here!