Telecom frauds have been causing the industry to lose billions of dollars every year. PBX fraud is considered one of the most worrying concerns for both enterprises and telecom providers. Since PBX systems also use IP networks, the risks are growing higher.
A recent report published by Technology Research Institute (TRI) estimates that PBX fraud and specifically the injection of fraudulent telecoms traffic through PBX systems causes approximately $8 billion a year in financial damage to enterprises alone.
Hackers and cybercriminals that target PBXs generally exploit known vulnerabilities in the SIP protocols that are commonly used today for voice communications in order to redirect fraudulent traffic at the expense of enterprises.
While PBX hacking directly impacts the enterprise, it causes serious harm to the telco network as well. In most cases, telcos do not have control over the PBX equipment installed at the enterprise premise or Cloud environment, so detecting and preventing PBX hacking and toll fraud in this situation is even more challenging.
Oculeus, a provider of innovative telecommunications solutions, has developed a Cloud-based solution to help both enterprises and telcos combat such frauds in a proactive way.
The company’s Oculeus-Protect has been featured in TRI’s report, “Telecoms Fraud & Business Assurance Solutions, Services & Strategies 2019” for its ability to combat PBX and toll fraud. TRI highlights that Oculeus-Protect is a “major milestone in the fraud fight” and describes it as the “first commercially available Cloud-based fraud protection service for stopping fraud at enterprise PBXs”.
By leveraging artificial intelligence and machine learning, Oculeus-Protect provides an intelligent and automated framework to efficiently prevent false charges resulting from unauthorized usage of enterprise telecommunication channels. Precisely, the solution employs anomaly detection to block any suspicious traffic that is confirmed to be fraudulent within milliseconds.
Dan Baker, Research Director, TRI
Oculeus is working with telcos to sell Oculeus-Protect as a telecoms fraud protection service to their enterprise customers which means that fraud protection can now be a revenue generator for the telco.
Arnd Baranowski, CEO, Oculeus
Our Oculeus-Protect service creates a win-win situation for both telcos and their enterprise customers in that telcos can better serve their enterprise customers and even generate additional revenue from a unique PBX protection service, while enterprises can significantly reduce their exposure to the financial damage of telecoms fraud.
