The recent UK phone hacking scandal has completely blown the lid off of how easy it is to spoof telephones. While this is something we’ve been educating our readers about for awhile now, oftentimes it takes a single, high-profiled event like this to enlighten the rest of the world about the true dangers and significant impact phone spoofing can have on its intended victims.
While the loss of privacy has been one of the biggest prices paid by the individual victims in the Murdoch case, businesses that leave their telecommunications networks open to hackers can feel the impact in other ways. With today’s more sophisticated criminals targeting customers’ personal information and company secrets, business losses can range anywhere from financial to brand integrity, which can lead to a whole subset of intangible costs.
What’s unfortunate about incidents like the News Corp./News of the World scandal is they could have been averted had the phone carriers been using the TrustID® Telephone FirewallTM solution. That’s right. By validating the physical location of a caller whether they are using the phone or a cellular device, the TrustID solution secures telephone systems against the threat of the Caller ID spoofing that led to the hacking of more than 4,000 phone numbers.
The NoTW phone hacking scandal is a prime example of a problem many businesses face today. Whether they know it or not, the truth is we’ve really only hit the tip of the iceberg. Criminals are using the telephone channel to commit different types of spoofing, pretexting and social engineering schemes to gain access to customer information and other confidential and proprietary business assets. In fact, this type of illicit behavior occurs tens of thousands of times each day against banks and financial institutions, and if they aren’t careful, they too could fall victim to similar security breaches.
Today, the TrustID Telephone Firewall is the only solution available that instantly authenticates inbound phone calls before the call is answered. By validating ANI and Caller ID through non-intrusive, undetectable caller authentication, businesses can proactively identify and stop criminals before they attempt to perpetrate fraud over the telephone channel. In doing so, business institutions can ensure customers are who they say they are without damaging their trust and goodwill through time-consuming, unpleasant knowledge-based authentication (KBA) and telephone identity interrogation.