Manx Telecom says it moved as quickly as it could to close a loophole which allowed phone fraudsters to manipulate its fixed line network.
The ruse saw scammers holding open land lines after making calls to local residents - and then intercepting return calls made to official bank numbers.
Victims have been duped into transferring substantial sums from their own accounts to the scammers'.
On Thursday, Manx Telecom announced a technical 'fix' which means lines are cleared within seconds - rather than minutes - of a call ending.
Despite the action, authorities expect the fraudsters to come up with a new method of conning people out of their cash.
Manx Telecom's chief technology officer, Kevin Paige, says the company reacts to threats as they arise:Clip 1
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