A recent ransomware report by Sophos reveals that 78% of South African companies were the victims of ransomware attacks in 2022. One of the most widely used channels for these attacks is telephony. Voice calls to companies account for 73% of phishing attacks and fraud, according to Metrigy.
Voice is a critical channel for enterprises so communications tools need to be integrated with more proactive security measures. Caller authentication can be automated, which will help to relieve contact centre agents from the burden of authenticating every caller.
These sorts of solutions are best provided by a reliable and reputable communications partner, such as SEACOM, which offers several communications solutions, including voice over internet protocol (VoIP) and private BPX for enterprises in South Africa. We also provide advanced cyber security solutions, so we can help you minimise cases of telephony fraud.
How telephony fraud is committed
Cyber criminals will always look for the easiest ways to get access to information. This just happens to be humans. Employees are the weakest link in a company’s cyber security defence strategy, so calling employees and pretending to be someone else is still an effective way to pry information.
VoIP systems are widely used in modern enterprises and cyber criminals are now using advanced tactics to succeed with their voice-based attacks. Examples include robocalling, shellshock, caller ID spoofing and telephony denial of service (DOS) attacks. However, impersonation and social engineering are the two of the easiest and most effective methods that hackers rely on.
Social engineering tactics are on the rise and can be used to directly interact with employees to gain information or even passwords. By pretending to be a senior employee, hackers can get a lot of information from employees over the phone – especially when there is a sense of urgency to the fake situation.
It can be difficult for employees to discern over the phone whether a caller is legitimate or not. Without autonomous caller identification software attached to VoIP lines, this onus becomes very demanding when there are high call volumes. This is why smart cyber security solutions need to be integrated with communications systems.
Why work with a communications partner
It is critical to work with an ICT services provider that specialises in cybersecurity solutions to prevent telephony fraud. Such service providers are well-versed in the most recent threats and vulnerabilities affecting VoIP systems. They can analyse and assess a company’s existing VoIP infrastructure, identifying potential flaws and putting in place strong security measures to prevent unauthorised access.
For securing VoIP networks and preventing telephony fraud, integrated cyber security solutions are required. Firewall protection, network monitoring, intrusion detection and encryption protocols should all be included in these solutions. In order to stay ahead of emerging threats, regular security audits and updates should be performed.
Businesses can significantly reduce the risk of telephony fraud by partnering with a professional ICT services provider that offers a comprehensive range of cyber security solutions too. These services should integrate with communications systems and ensure that strict access controls, authentication procedures and encryption protocols are in place to safeguard sensitive voice and data transmissions.
To summarise, telephony fraud is a significant threat to businesses that use VoIP systems. To effectively combat this risk, enterprises must collaborate with an ICT services provider that can offer a variety of security solutions that integrate with VoIP networks.
Businesses can reduce the risk of telephony fraud, protect their finances and confidential information, and ensure continuous communication by implementing robust security measures, regular monitoring and employee training.
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