Ethio Telecom said it was working to stop telecom fraud. According to the CEO of Ethio-Telecom, Frehiwot Tamiru, huge foreign currency income is lost as a result of telecom fraud. During the 2017/18 fiscal year alone, the company reported that it lost Birr 2.5 billion because of telecom fraud.

Last weekend, the company launched a new technology to stop telecom fraud. According to the CEO, the new technology increased foreign currency income of the country in the past few days alone.

Data shows that telecom companies worldwide lose over USD 30 billion to telecom fraud every year.

Source: Fana BC