Technology has made telecom an even more powerful tool than most people would have predicted. It’s changed the way we connect, communicate, and do business, but it’s also given scammers and hackers a new means to commit fraud. According to a 2015 global survey conducted by the Communications Fraud Control Association, fraudulent activity costs the telecom industry over $38 billion a year.
It’s not just monetary loss that has companies concerned; breaches of security often amounts to a breach of trust and damaged reputation in the eyes of customers. If a company becomes a victim of fraud, customers are affected in numerous ways, and can sometimes become victims themselves.
This is why telecom security measures are so vital, particularly when a company uses IP or VoIP communications. Such communication systems come with many advantages, which has made them a standard for business connectivity and communication. As they’ve become so widely used, scammers and hackers have found common ways to exploit them.
Premium rate route fraud will hijack a company’s calls and route them to high-rate, international destinations. Toll-free line abuses will automatically make calls with poor audio quality, causing recipients to stay connected in an effort to decipher the call. One of the most common and frustrating types of fraud spoofs a company’s or individual’s identity on a caller ID, causing unsuspecting recipients to answer a call that phishes for information or seeks to take advantage of the recipient in some way. Scammers will also deploy these attacks at times when companies are least likely to notice them, such as over weekends and holidays.
This is why it pays to be vigilant and perform regular security audits of your VoIP and communications systems. There are numerous things that can be done to protect your lines from being hacked, which helps save your reputation and bottom line. For example, maximum default rates can be set, which will prevent hackers from rerouting calls to high-rate destinations. Certain destinations can also be whitelisted so that calls placed outside of your usual business circle are blocked or marked as suspect.
It’s helpful to address these issues with your telecom service or equipment provider. For example, a resource like www.marketcommunications.net is a way to connect with numerous VoIP solutions for security of service, connectivity, and equipment.
Taking a proactive role in your company’s communication security is something that hackers don’t expect you do, which is why doing just that is so effective in thwarting their efforts. These issues impact businesses large and small in all different types of industries, so it’s wise to take them seriously and implement a few measures that could save a substantial amount of loss.