Oculeus, a leading provider of innovative telecommunications solutions, has had its approach for protecting against PBX hacking and toll fraud endorsed in a new analyst report on telecoms fraud recently published by Technology Research Institute (TRI), a market research firm that has been following the telecoms industry since 1994.
In its analyst report titled Telecoms Fraud & Business Assurance Solutions, Services & Strategies 2019, 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.
In this report, TRI highlights that Oculeus’ recently released Oculeus-Protectoffering 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”. The report also explains that Oculeus-Protect is far more versatile than alternative approaches because it can block fraudulent calls even before they are connected and it requires zero administration to operate.
Oculeus-Protect is a real-time, Cloud-based telecoms fraud protection service that directly protects enterprise PBX systems and voice telephony networks from the risks of hacking and toll fraud. The service provides an intelligent and automated framework to efficiently prevent false charges resulting from unauthorized usage of enterprise telecommunication channels. The technology behind the service is based on anomaly detection and blocks any suspicious traffic that is confirmed to be fraudulent within milliseconds.
“In TRI’s opinion, Oculeus-Protect delivers a breakthrough that could have a lasting impact on curtailing PBX fraud across the board,” said Dan Baker, Research Director at TRI. “Oculeus is also working with telcos to sell Oculeus-Protect as a telecoms fraud protection service to their enterprise customers, which means fraud protection can now be a revenue generator for the telco.”
“The existing telecoms fraud protection efforts of most telcos do not cover PBX hacking and toll fraud since PBX equipment is generally installed in the enterprise’s premises or cloud environment, which is well beyond the control of the telco,” explained Arnd Baranowski, CEO at 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.”