How much will you lose in a big telecoms fraud? You may reasonably point out that ‘big’ is relative to the size of the company but for the sake of discussion, let’s say the question relates to the whole industry. So, how big is ‘big’? I’m thinking in round numbers here, but I’d say $1m is big, but not exceptional. $10m is big and $100m is exceptional, almost unique. So do you think you have a billion dollar risk from telecoms fraud?