ALERT: Stay vigilant and exercise caution against online scams. Never share confidential information, passwords, OTPs and bank details over calls, emails or SMSes.

Stay In The Loop and Avoid Scams: How VoIP Services Can Keep Your Business Safe

According to a 2023 year-end report by the Singapore Police Force, the total number of scams and cybercrime cases rose by 69.4% in the first half of 2023 with an estimated total of $334.5 million being cheated from victims across 24,525 cases. While individuals proved to be the main target of cyberattacks, businesses themselves are not immune either. A cybersecurity survey conducted in 2023 warned that 86% of companies in Singapore have been identified as being at risk of cybersecurity incidents, underscoring the pressing need for businesses to adopt cybersecurity measures.

Poorly managed phone service can cause businesses to fall victim to cyberattacks such as phishing and data breaches. Voice over Internet Protocol, or VoIP, allow businesses to prevent such attacks. VoIP is a technology that allows voice calls to be made over the Internet instead of traditional phone lines. VoIP converts your voice into digital signals and transmits them over the internet, enabling you to make calls from a computer, VoIP phone, or smartphone.

The advanced nature of this technology brings overwhelming benefits for businesses seeking to mitigate risks and avoid scams. Want to find out how your business can stay safe and avoid scam attempts with VoIP services? Let’s dive right in.

1. Enhanced Security and Management

One common scam that threatens businesses is phishing. Callers will usually pose as support staff of banks or tech companies to gain illegitimate access to businesses’ sensitive information. And most of the time, employees fall prey to such attacks. Based on a survey, only 44% of working professionals can identify fraudulent calls.

VoIP services can enhance business security and communications by providing encryption that surpasses that of traditional phone lines. These services include network security protocols to prevent unauthorised access and come equipped with secure call management and verification tools, mitigating the risk of impersonation and fraud.

Furthermore, reputable VoIP services will offer tailored solutions that complement existing security infrastructure, which ultimately fortifies an organisation’s overall cyber defence. Examples of these include MyRepublic’s Business Voice which provides a range of curated VoIP solutions for companies large and small alike.

2. External Caller ID Blacklist

Cloud voice solutions (PBX), a form of VoIP, can offer a safe and reliable all-in-one solution for businesses and their customers. Cloud voice solutions PBX takes advantage of cloud computing to provide advanced features such as call campaigns, call queuing and call blacklisting. The latter is a lifesaver when it comes to dealing with scams targeting businesses, such as caller ID spoofing or impersonation scams. By simply blacklisting suspicious numbers from the get-go, businesses utilising Cloud PBX services can dictate how they want to be contacted to safeguard their company from scam attempts. For businesses seeking total security from fraudsters and cybercriminals, Cloud PBX services also offer the option of blacklisting suspicious numbers across the entire organisation, safeguarding everyone from the bottom up and foiling repeated attempts to find an entry point into your operational security.

For full-suite VoIP coverage, leverage MyRepublic’s Cloud PBX features such as caller ID blacklist to thwart social engineering attempts on your employees and maintain optimal operational security.

3. Call Logging & Authentication

In certain instances, it might not be entirely feasible to blacklist all external calls since doing so might result in external stakeholders such as clients and customers being unilaterally blocked. This presents an opportunity for scammers to pose as credible officials to try and gain access to your systems to steal data.

To circumvent this, use a hosted PBX softphone for remote work which unifies communication for all remote employees into one clean and monitored channel. With the hosted PBX’s detailed call logging and authentication features, suspicious calls are quickly flagged as potential fraud and the system’s security protocols will prevent the caller from gaining unauthorised access to the company’s network.

Keep your data and remote employees safe with MyRepublic’s Hosted PBX Softphone for Remote Work by filtering out potential scams with call logging and authentication features. Boasting rich enterprise-level integration, businesses no longer have to worry about juggling security with operational efficiency.

At MyRepublic, we keep businesses safe and well-protected from security threats by providing a comprehensive array of cost-effective and secured VoIP services. Contact our specialists to find out more about our VoIP plans. Focus on productivity and worry less about security threats with MyRepublic’s VoIP Business Voice Solutions today.