With the potential to become a $140 billion market by 2021, it’s safe to say VoIP is here to stay. But you know what’s an even bigger market? Organizational fraud. Leading publications like Forbes pin this market as high as $190 billion per year, and that undoubtedly includes VoIP fraud.
A year or two ago, we did a comprehensive overview of VoIP fraud including what it is, how to prevent fraud damage, and even what the average attacker is thinking. After a glance at recent research, however, we think it’s time to bring this topic back to the table.
‘Tis the season for giving thanks, and we’ve got a lot to be grateful for. Nearing the top of our list is our Fraud Detection Service, which enables businesses to effectively detect VoIP fraud and lower (if not, eliminate) the risks associated with it. This is a pretty significant tool, considering that research shows telecommunications providers can lose up to $150 million per year due to fraudulent calls.
Do a quick Google search for top VoIP trends and you’ll likely see two words in your results: VoIP fraud. Fraud unfortunately represents an emerging VoIP trend in which hackers gain unauthorized use of paid communication services, which are charged to someone—either a service provider or end-user—unbeknownst to them.
Do you remember that series of VoIP fraud articles we shared with you a few months ago? We began with What is VoIP Fraud and continued with 6 Common Ways to Suffer a VoIP Attack, Top 10 Ways to Prevent VoIP Fraud Attacks, and then ended with Top 8 Ways to Reduce VoIP Fraud Damage. Only that wasn’t the end.
We set out to bring the topic of fraud to the forefront of your mind to not only show you the extreme importance of it, but get you prepped for something epic we had coming your way. Today, we now have available the VoIP Innovations’ Fraud Detection Service and it will provide a way for VoIP resellers, ITSPs, and Enterprise customers to monitor and analyze your traffic patterns in near real-time looking for fraudulent activity. There are more, but we’ll start you with three reasons our new VoIP Fraud Detection Service is a game changer.