Telecoms Fraud is when hackers hijack your business phone system to make calls and sell the minutes on for a profit. Hackers target businesses with weak internal controls such as not changing the default password or using a weak password such as 1234.
Your voicemail system can also make you vulnerable if it’s not PIN protected.
These hackers are typically part of elite organised crime gangs and extremely proficient in what they do. They can gain access to your system by guessing a weak password or if you haven’t changed the default password and use each phone line to make simultaneous calls to international or premium rate numbers, meaning a five phone office could be defrauded by up to 50 different lines. These will be called constantly and can accrue charges as much as £80,000 over a four day period. An unexpected bill like this can be catastrophic for a small business.
Telecoms fraud costs businesses over £100 billion a year globally and over £750 million in the UK, and unfortunately it’s increasing at a rate of approximately 10% a year.
The world over, the telecom industry has had its share of losses due to sophisticated technology-aided frauds, KPMG estimates these at approx 2% of global revenue. Hackers don’t just target large companies; anyone with a business phone system is at risk. Telecoms Fraud won’t go away as long as systems and companies expose themselves and there is the potential to make a profit from this theft.
Protect your Business with our Fraud Monitor. For a small fee every month we will continually monitor your call traffic and in the event of any unusual activity we will instantly place a call Barr and stop the system being hacked before you are aware anything has happened. This Barr will be removed as soon as everything is safe.
We check calling patterns for:
Our fraud team are on standby 24 hours a day, 365 days a year to ensure you’re fully protected. We will also give advice on how to make your business less appealing to hackers, such as changing passwords frequently and barring certain international calls as well as placing controls on your automated attendant.
Don’t take the risk; protect your business with Fraud Monitor.
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