The benefits of the cloud are extensive. Cloud communications enable rapid deployment, easy provisioning, scaling of IT resources – and all at a moderate cost. Many business leaders see the cloud as an empowering engine for small business growth and job creation. However, there are still some major issues that enterprises are concerned about with cloud communications: data residency, unreliable cloud communications, network security, and fraud.
Cloud communications fraud is growing much faster than ‘traditional’ telecom fraud for several reasons. The most important is that enterprises and cloud communications service providers are relatively inexperienced in detecting and tackling telecom fraud. Other factors, such as the drive to provide an extremely frictionless authentication process – which can leave the door open to fraudsters – and a multi-layered business and customer ecosystem also play a role in exposing cloud communications platforms to fraud.
Cloud communications fraud can not only result in financial loss, but can damage the overall brand reputation of businesses. Phishing and end-user attacks don’t necessarily put much money at stake, but if customers feel that a brand is unsafe they will quickly move their business elsewhere.
In 2019, a video conference service provider was hit by fraudsters. Over a period of 2 months the conference service received large amounts of fraudulent traffic, resulting in a direct loss of US$480,000 – but damage to the brand’s image and trust was much deeper.
In cases like the video conference service provider, when launching a cloud communication service, fraud management may not have been top of mind in the business plan when going to market. Let’s face it – developing fraud protection expertise from scratch is expensive and requires a long lead time.
maaiiconnect is backed by telco leader, M800
Businesses looking at cloud communications service providers would find great value in working with a partner that has an extensive background and expertise in “fighting fraud”. Cloud telecom service provider, M800, was founded in 2007 by 4 telecom pioneers. The business evolved to CPaaS in 2011, and in 2015 focused on SaaS. M800’s years of telecom expertise and global network was leveraged to launch maaiiconnect in 2020 to address fundamental gaps in the global communications space, by offering businesses a secure, cloud omnichannel customer engagement and team collaboration solution.
As a cloud communication platform backed by M800, there’s several key advantages in terms of fraud prevention:
1 – Extensive expertise
M800 has a fraud tolerant distributed network architecture with operations that cover several communication segments such as voice, SMS, cloud communications, machine-to-machine communications, and many more.
Over 40 years of fraud knowledge from the telecommunication sector has been utilised by staff who are working hard at ensuring systems are strengthened against ever sophisticating fraud tactics and methods.
2 – 24 x 7 monitoring
Many enterprises and cloud communications platform providers can’t monitor fraud on their platform, but maaiiconnect is empowered by an experienced support team to monitor all of the communication services from a video conference call, to every virtual number operating across the global network every single hour of the year.
3 – Distributed network architecture
M800’s highly scalable, efficient, and reliable carrier-grade global network is privately owned. Businesses that have networks with a large number of devices can be more secure and tolerant of setbacks, and have confidence in protection over virtual numbers being used across the organisation and its customer base.
Global security compliance
Given that security and privacy are extremely important to M800, maaiiconnect is fully compliant with global regulations such as ISOand strives to ensure the highest levels of adhersion possible.
ISO 27001 is the best-known standard for an information security management system (ISMS).
An ISMS is a systematic approach to managing sensitive customer information so that it remains secure. It includes people, processes, and IT systems by applying a risk management process.
maaiiconnect is certified for:
- Clear security policy
- Secure documents and communications
- Information security incident management
- Business continuity management (the process involved in creating a system of prevention and recovery from potential threats to a company)
- Access control
- Secure asset management
- Secure development and maintenance process
The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that maaiiconnect accepts, processes, stores, or transmits credit card information while maintaining a secure environment.
maaiiconnect is certified to:
- Build and Maintain a Secure Network and Systems
- Protect Cardholder Data
- Maintain a Vulnerability Management Program
- Implement Strong Access Control Measures
- Regularly Monitor and Test Networks
- Maintain an Information Security Policy
The General Data Protection Regulation (GDPR) is the toughest privacy and security law in the world.
The GDPR aims primarily to give control to individuals over their personal data and to simplify the regulatory environment for international business by unifying the regulation within the EU.
maaiiconnect guarantees to:
- Keep personal data in a safe place and proper location based on the GDPR recommendations
- Collect minimum data to improve products
- Provide a clear and simplified policy
- Allow customers to delete or edit their personal data
- Notify customers in case of a data breach
Get in touch to talk about our cloud communications solution.