The global telecom industry has been evolving rapidly, yet along with its growth, it has also witnessed an increasing threat of fraud, especially in the international voice termination sector. Voice Termination Fraud poses significant financial and reputational risks to telecom providers, businesses, and individuals alike. As perpetrators continue to devise new tactics and exploit vulnerabilities, it's crucial for businesses to stay vigilant and adopt robust security measures to protect their customers and their brand.
At Wavecrest, we have been at the forefront of international voice termination for over two decades, handling a vast array of voice traffic across the globe. Our focus on security and fraud prevention has been a cornerstone of our success. This commitment has required continual innovation and adaptation to stay ahead of the fraudsters, who are always looking for new ways to exploit the system.
The most common form of voice termination fraud is International Revenue Share Fraud (IRSF), where fraudsters generate calls to high-cost destinations, often using stolen credentials or SIM cards. The fraudsters share the revenue from these calls with complicit carriers or service providers, leading to significant financial loss for the unsuspecting victim.
Other forms of voice termination fraud can include PBX hacking, where fraudsters gain unauthorised access to a company's PBX system and generate a high volume of international calls, and call pumping, where large volumes of calls are made to premium-rate numbers owned by the fraudster.
To tackle these challenges, we has developed a robust, multi-pronged approach to fraud prevention:
State-of-the-art analytics tools: These tools continually monitor call patterns and detect any unusual activity. Our sophisticated algorithms can identify patterns that might indicate fraudulent activity, allowing us to act swiftly to prevent further damage.
24x7x365 dedicated Fraud Team: We believe in the power of human intuition combined with data-driven insights. Our dedicated Fraud Team keeps up-to-date with the latest trends and tactics in fraud, ensuring that they can rapidly identify and block suspected fraudulent activity. Their understanding of how fraudsters can benefit from different opportunities enables them to anticipate potential threats and take pre-emptive measures.
Collaboration with industry partners: Sharing information and best practices with other industry players is an essential part of our strategy. We actively participate in industry forums and work with other operators to create a united front against voice termination fraud.
Educating our customers: We believe that an informed customer is a safer customer. We regularly update our customers about the latest fraud trends and provide them with the tools and knowledge to protect their systems from fraud.
Voice termination fraud is a significant challenge for the telecom industry, but with the right approach, it can be effectively managed. By investing in sophisticated analytics tools, employing a dedicated Fraud Team, collaborating with industry partners, and educating our customers, Wavecrest is leading the way in the fight against voice termination fraud.
We understand that our customers' success is our success, and we are committed to providing a secure, reliable service that our customers can trust.
At Wavecrest, we don't believe in a one-size-fits-all approach. We understand that each company has unique needs, risks, and customer profiles. This is why our process begins with a thorough pre-onboarding profile review and analysis. We identify key patterns and trends in your voice traffic to establish the best measures to protect against fraud and risks specific to your company and your customers.
Our service is flexible and can be tailored to your specific needs. We can provide you with notifications about suspect traffic, allowing you to take necessary actions. Alternatively, we can provide a fully managed solution where our expert team proactively blocks fraudulent traffic on your behalf.
Once you're onboarded, our relationship doesn't end there. We conduct ongoing monthly and quarterly reviews to ensure the levels and thresholds for anomaly identification are up-to-date. We also provide recommendations for enhancements to help mitigate risk further.
At Wavecrest, we believe in a partnership approach. We are with you every step of the way, committed to providing a secure, reliable service that you and your customers can trust.
Choose Wavecrest to combat voice termination fraud, ensuring the integrity of your voice traffic and the satisfaction of your customers.
Take the first step towards robust fraud protection today. Contact our team at Wavecrest to schedule your pre-onboarding profile review and to learn more about our customizable fraud prevention solutions. Join the ranks of businesses who trust Wavecrest to keep their voice termination secure.
Contact us today and let's work together to make your voice services safer and more profitable.
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