Oculeus, a Germany-based telecommunications software solution provider, has launched a new real-time telecoms fraud protection service for enterprises.
Oculeus-Protect is a cloud-based service that directly protects enterprise PBXs and voice telephony networks from hacking and fraud risks.
According to the Communications Fraud Control Association, telecoms fraud caused approximately $29.2 billion in fraudulent charges last year alone of which over $3.8 billion in financial losses was attributed to various types of PBX hacking and toll fraud on enterprise communications networks.
Oculeus-Protect is a real-time telecom fraud protection service that provides enterprises with an intelligent and automated framework to efficiently prevent false charges resulting from unauthorized usage of enterprise telecommunication channels by cybercriminals and other perpetrators of telecom fraud.
“There is a clear and definite need for our new telecoms fraud protection service,” stated Arnd Baranowski, CEO of Oculeus.
“In many places, the burden of proving and even paying for the false charges resulting from telecoms fraud are on the enterprise and relying solely on the telco for protection is not sufficient.”
The service can block fraudulent telecommunications traffic within milliseconds and is completely independent of an enterprise’s telecommunications service provider and its telecoms fraud prevention efforts.
“Our service runs like an antivirus system on a laptop with no noticeable impact on the speed or quality of the enterprise’s existing voice communications,” added Baranowski.
“Any suspicious calls from outside the enterprise are detected immediately and those confirmed to be fraudulent are instantly blocked.”
The technology behind Oculeus’ service begins providing protection by profiling the enterprise’s communications network and building a baseline of expected telecommunications activities.
The technology then continuously monitors the enterprise’s communications network for traffic anomalies and other patterns that are typical of telecoms fraud. Any suspicious traffic is immediately sent to a fraud detection engine, which is also located in Oculeus’ Cloud environment, and if confirmed to be fraudulent, is blocked instantly.