Voice phishing, or "vishing," can help criminals obtain detailed credit-card data such as the expiration date and the security code located on the back of the card, he added.
Scott Holcomb, CEO of Holcomb Enterprises, a Mission Viejo, Calif.-based solution provider, said VoIP technology gives criminals the anonymity they need to carry out scams.
"With regular phones, there's a physical location that has to be reported. But for VoIP, all you need is an IP address," Holcomb said. It's also a simple process to set up a voice response system and acquire local VoIP phone numbers, he added.
Voice phishing will be difficult to keep in check because hackers already have figured out how to spoof caller ID for VoIP calls, according to Henry. "Someone could call you and forge caller ID to make it appear that the call was coming from a bank, for example," he said.
"There is very little if anything that can be done from a technology perspective [to stop voice phishing]," Henry added. "So we are going to have to start rethinking within the financial sector how long we can make it easy to establish and use credit. That, to me, is the root cause of the problem."
Subsea cable alternatives can provide a level of comfort for those concerned about disruptions. Realistically, they will continue to play a small, but critical role in the short term.
Maintaining existing network infrastructures often incurs huge technical debt before newer technologies are adopted over time.
Amid ongoing regional uncertainties, telecom infrastructure in the Middle East has expand to include terrestrial low-latency network infrastructure, which offers resilience and agility in navigating political complexities without relying solely on undersea networks.
