Morocco leads the MEA region in mobile anti-fraud growth
Morocco has emerged as the Middle East and Africa (MEA) region's leader in combating mobile fraud.
This is according to Evina, a business that provides enhanced cyber security for carrier billing and mobile money.
In a new 2023 edition of the Direct Carrier Billing (DCB) Index, Evina claims to have delved into the current changes in the area of DCB, particularly in the Middle East and Africa.
This annual report sheds light on the development and potential of the DCB market in this region, as it evolves as a key player in the mobile payments sector.
The company also claims that, as a streamlined approach that allows customers to charge goods directly to their mobile carrier bill, its use is growing in locations with increased mobile penetration, propelling new countries to the forefront.
Notably, the company claims that the market's overall rating has increased from 2.8 to 2.9, since the DCB Index employs a 1 to 5 rating system, with 1 being the lowest and 5 being the highest level of DCB development and potential.
Morocco leads the ranking with a score of 3.6, while South Africa falls to second with a score of 3.5 this year.
"The improvement signals the market's advances in innovation and opens doors for further development, particularly in anti-fraud technology," it notes. “For the first time, new countries such as Algeria, Botswana, and Saudi Arabia have been included, providing a more comprehensive understanding of the region's DCB landscape."
Morocco leads this year's rating with the highest score, highlighting its large and dependable DCB industry, according to Evina.
According to the business, South Africa is the runner-up, with strong mobile money use and potential for DCB growth.
"The Index also helps to enhance Ivory Coast as the fastest-growing market and draws attention to the increasing market dynamics in Africa," it continues. “In the Middle East, Kuwait and the United Arab Emirates are making significant progress with favourable ratings, while Saudi Arabia has an exceptional 3.4 rating, proving its relevance and raising the region's average score."
"This year's ranking shows a modest increase in the overall level of security among DCB players operating in the MEA region," says David Lofti, CEO of Evina.
He adds: “This is a wonderful trend, but it should not obscure the rising discrepancy in security levels amongst players. Some players are investing in their development and security on the DCB and reaping significant benefits in terms of growth and profitability, whereas others are caught in a downward spiral in which they find themselves unprotected and under attack by fraudsters who target the world's least protected regions and avoid defended players."