Understanding IRSF Fraud - Protecting Against SMS Exploitation

Learn how attackers exploit SMS-based two-factor authentication systems through International Revenue Share Fraud (IRSF) in this 28-minute conference talk from BSidesSF 2025. Discover how cybercriminals generate revenue by artificially inflating SMS traffic to premium-rate numbers, turning your organization's security measures into their profit stream. Explore the mechanics of IRSF attacks that target SMS 2FA implementations and understand the financial risks these schemes pose to businesses relying on SMS for authentication. Master detection techniques using industry tools including Cloudflare, OpenAI, and Datadog to identify suspicious SMS traffic patterns and fraudulent activities. Gain practical mitigation strategies to protect your organization's SMS infrastructure while maintaining effective two-factor authentication security. Understand the broader implications of SMS exploitation in cybersecurity and learn to balance authentication convenience with fraud prevention measures.