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08 Jan 2009 - MinuteBuyer urges businesses to review the security of their phone systems due to recent attacks

Businesses Lose Thousands of Euro to Phone Hackers
Urgent review of phone system security recommended as telecoms fraud increases

Dublin, Wednesday, 8^th January 2009. Recent research by Minute Buyer has found that there has been a significant increase in the number of telephone fraud and hacking cases, with a number of Irish companies having been targeted over the past three months. The costs to businesses can vary depending on the case in question, but the scam can cost a business thousands of euro. In Ireland, the Garda Bureau of Fraud Investigation estimates that telecoms fraud can be as high as €90,000 over just one weekend. Outside hackers and ‘time theft’ has grown to unacceptable proportions according to MinuteBuyer’s market intelligence. In response to this growing threat MinuteBuyer, an independent telecommunications solution provider, is calling on all businesses to review their phone system security and internal phone procedures to minimise the risk of falling victim to time theft.

According to Shaun Hayden, Director, MinuteBuyer, “The recent cases that we encountered show very serious and very complex fraud techniques, sometimes involving a number of companies phones systems.The phone hacker employs an array of complex hacking tools, ranging from password-stealing software to automatic dialers that are designed to circumvent common security measures. And hackers are difficult to detect until the damage is already done. The recent cases are sophisticated problems that require sophisticated solutions. The main cause of concern at present is the highly skilled operators who sell the access numbers of their office PBX system and then sell on the time to third parties at considerable profit, costing your businesses thousands of euro.”

The Minute Buyer PBX Fraud Alert

In response to this growing threat, MinuteBuyer has developed a bespoke monitoring tool, the MinuteBuyer PBX Fraud Alert, to protect their clients from any fraudulent activity.

This reporting tool is a managed service aimed at companies with more than 50 staff members. A serious spike in unregulated telecommunications activity could be very costly for these organisations and the MinuteBuyer PBX Fraud Alert is offered in conjunction with Soft-ex. Features include:

All the call statistics generated by your PBX are captured around the clock and processed to generate business-critical cost information and reports.
All aspects of telecoms activity – from a top-level overview to specific details about each and every call – are clearly visible.
MinuteBuyer Managed Service will also safeguard companies from internal and external dial-through fraud. When an unusual change in activity occurs, an instant message (by e-mail or text) is sent to a nominated person within the organisation.

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About MinuteBuyer

Established in 1999, MinuteBuyer is a leading provider of telecoms solutions to the corporate market in Ireland. A wholly owned Irish company, based in Dublin, the company’s solutions give clients greater control over their telecoms portfolio.

MinuteBuyer was first in Ireland to offer an independent telecoms brokerage service, negotiating the best rates from national and international telecoms service providers. This arrangement reduces clients’ telecoms bills by 30% on average.

MinuteBuyer’s consultancy services include:

telecoms audits,
advising on telecoms solutions,
invoice verification,
tender facilitation,
mobile procurement,
provision of management information on telecoms usage,
capacities and efficiencies,
counselling on industry trends.

Clients include Deloitte, Anglo Irish Bank, Heitons Musgrave Group, Toyota, United Drug and Iona Technologies. Visit www.minutebuyer.com for more details.

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