We are all becoming more suspicious a call may not be from that shown by the Calling-Name. The call may be from a nuisance RoboCaller telemarketer. More seriously, the call may be vishing from a fraudster soliciting private information through social engineering to enable them to defraud you, your family or your company.
A vishing attack is basically a phishing attack made via voice. i.e.: a technically normal call made into your contact center. However, the Caller-ID may spoof a number familiar to you, inducing you to trust it, such as a fellow employee, or even perhaps your CEO’s mobile number.
- Only 10% of all phone calls, including those between friends and family, are ever answered today.
- A major US national bank believes 30% of the calls on the phone network, using their phone numbers, are spoofed.
- Recent estimates indicate up to 50% of the total GDP of Myanmar is fraud against Americans.
- See investigations above by the BBC and NY Times.
Restoring Trust in the Phone Network
Teraquant is an innovating member of the 40 year old industry association: Communications Fraud Control Association.
CFCA is where the telecom industry exchanges best practices to combat Communications fraud. Having mostly defeated the common threats to telecommunication companies, Teraquant founded the Trust & Transparency Working Group within CFCA, to:
- Fight the threat of Robo calls.
- Combat more menacing types of phone calls leading Ransomware.
- Detect Vishing attack leading to fraud against consumers and business enterprises.
- And to restore trust in our Telephone network.