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New report reveals details of telecom schemes
SECURITY

New report reveals details of telecom schemes 

“Many of these scenarios are new to the telecom and VoIP industries,” Jim Dalton, president of TransNexus said in a press release.  “The first step to stopping telecom fraud is understanding it.  The charts and diagrams in our latest telecom fraud report help our customers to realize the weak points in their network security.”

The TransNexus-published report provides real examples of call and cash flows from 12 affected companies, dividing them into three distinct categories – traffic pumping, telecom provider defrauding and over-the-telephone schemes.

Traffic-pumping schemes boost a website’s traffic to a predetermined peak using access simulation techniques. Once the traffic reaches the specified level, the resulting revenue is then shared with the fraudster.

Telecom provider defrauding schemes are often complex, and involve using SIP trunking and taking advantage of regulatory loopholes.

Telephone schemes are conducted over the phone, and are generally broad-based.

FTC data reveals that 34 per cent of fraud claims made in 2012 were the result of telecom fraud, a significant increase over the 20 per cent experienced in 2010. Additionally, the report shows that as technology continues its evolution, so have the efforts of criminals to defraud it.

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