Trailblazing Ideas to Detect VoIP Frauds and Prevent Them
VoIP frauds are highly hazardous for a business as they can derail the entire system and even bring the organization to a standstill. Moreover, as the new age business ecosystem constantly evolves, it is facing more unique types of threads and frauds every time. Therefore, it becomes necessary for the organization to invest in hack-proof VoIP systems and keep the technology-related threats at bay.
With the advent of technology, the world is becoming a connecting village; therefore, profound A to Z termination wholesale is now a necessity rather than a luxury. To avail this service to the core, business organizations need to be vigilant in selecting the right VoIP service provider who is rendering effective wholesale VoIP rates.
Along with selecting the best service provider, business organizations must be aware of ‘VoIP Frauds.’ Therefore, here, we will understand the risk ratio of VoIP frauds. In addition, we will take a detailed look at the different types of scams and what are steps to spot and prevent them.
Why is VoIP Prone to Fraud?
One of the main functions of VoIP is to bring voice to the same data network used for videos, texts, pictures, etc. Therefore, as it becomes a common platform for several resources, it is vulnerable to system mishaps, data-driven attacks, and more. In addition, with increasing popularity due to its flexibility and mobility, the fraud and security threats in the VoIP system continue to rise.
Although riding the bandwagon, the business organization is not fully aware of VoIP’s entire security horizon. They think the VoIP system is similar to PSTN (Public Switch Telephone Network), which doesn’t need much attention and is where the glitch arises. VoIP systems are prone to fraud such as phishing attempts, DDoS (Distributed Denial-of-Service), system malware, data breaches, etc.
Like any other computer viruses, VoIP frauds are tough to detect at their nascent stage. The fraudsters attack at the right time after understanding the usage pattern of a particular system. Therefore, it is of prime importance to conduct security checks regularly and find out the VoIP frauds at an early stage.
Different Types of VoIP Frauds
After understanding the vulnerability of the VoIP system against fraudulent activities, it is time to know the various types of VoIP fraud. Despite being cost-effective for business owners, VoIP fraud attacks can cause significant financial loss if the source is not monitored. Let's see what the different types of VoIP frauds are
Here, the wholesaler adds a new destination to the price list that is much below the standard rate. Due to lower prices, there is more traffic on the VoIP system and due to the low rates, terminating traffic becomes a non-viable option. Now to come out of this situation, the wholesaler hacks the PBX (Private Branch Exchange) and uses it as a switch. Doing this will charge the total traffic to the customer, and the wholesaler pays nothing.
International Revenue Share Fraud (IRSF)
Several IPRS (Intellectual Property Rights) and Higher Revenue Generating destinations are susceptible to VoIP fraud. Premium rates provide information and entertainment to only a few specific numbers to render these services.
Now, as these destinations are high revenue generating, the rate of service is also very high. Moreover, the profit of the y is shared between the network owner and the provider of the service.
In IRSF, frauds can be done regarding the quality of service delivered as promised. In addition, the service provider can artificially inflate traffic through PBX hijacking to earn more money.
Like IRSF, Domestic fraud is caused when the voice traffic is artificially inflated to a much higher level. Here, without the knowledge of the customer, the fraudster compromises their telephony assets and directs the traffic towards the premium rate services where they can be charged more.
Inflated voice traffic levels can be generated through the access of Transaction Capabilities Applications Part (TCAP). Moreover, the local exchange carriers can make more revenue through stimulations by amplifying the traffic levels.
How to Spot VoIP Frauds?
To detect VoIP frauds, monitoring the ‘oddities amidst the norms is necessary.’ It is also essential to keep a timeline on the usage and the bills that will assist the organizations in pinpointing the glitches faster over time.
Monitor the International Calls
As seen earlier in the types of VoIP frauds, it is easier for the service provider to do fraudulent activities in numbers with premium charges. Therefore, keeping an eye on international long-distance call usage is essential. Also, if international calling is standard for your business usage, keep a tab on it in the same way you do for general use. Being vigilant will help the organization catch the increased volume of call charges quickly.
Check Call Detail Records (CDRs)
Double checking the CDRs regularly is essential to spot a VoIP fraud at its nascent stage. Whenever there is an abnormal strike in the bill, go through the call detail records and match the voice charge according to your usage.
Always Have a Profound Implementation System
Automation is necessary for every business walk, and monitoring VoIP frauds must be a different story. An automated alter system will help the business organization catch a fraudulent activity in real-time. Moreover, a notification system will also help better analyze the call record details.
How to Prevent VoIP Frauds?
The best defense against VoIP fraud is to create a fool-proof strategy. Let us dive deep and understand the methods that will help keep VoIP cons at bay.
Make Your Team Aware
We all have heard about email phishing, but are you aware of vishing? Vishing translates to Voice Phishing, which is done directly through the phone. Therefore, educating your team about the loopholes and conducting proper training sessions to resolve upcoming problems is necessary.
Set Stringent Rules
If international calls are a must for your business, setting outbound rules is essential to keep the frauds in check. Prepare a white and black checklist depending on the volume of calls made to each country. Based on the list, restrict the international calls from the VoIP carrier. This list will help limit the exploitation of voice data fraudsters can use against your organization.
Update Both, Hardware and Software
Business organizations must stay on top of the software and hardware updates. This is because if any of the software or hardware is left unattended, there will be unpatched bugs that are highly exploited by the fraudsters.
Therefore, updating the hardware and software on the same lines will keep the phone’s IP address safe and prevent the VoIP system from even getting remotely exploited by fraudsters.
Enhance your Business Horizon with Safer VoIP System
Robust VoIP systems are necessary for business expansion, especially in today’s connected world. Bankai Group offers streamlined and secured A to Z wholesale termination to prevent communication delays and assists in uplifting productivity. Businesses can also unlock their full potential along with safer VoIP systems effectively.