The days of nefarious phone phreaks "were" over, but with the new age of Voice-Over-IP networks provides a new vector for security, abuse, and identity theft. While many have not seen the impact, IP Telephony is trivial to exploit and the results can be startling. This presentation provides a basic understanding of the SIP protocol, as well as STUN, Outbound Proxy usage, and VoIP infrastructure. Strengths and weaknesses are discussed, with a focus on computer security, as well as the impact on consumers and law enforcement. The presentation includes demonstrations of VoIP "spoofing" and the impacts of systems that rely on reverse lookups for access validation, as well as re-routing calls, unblocking caller-id, anonymous calling, identity theft, and phone spam.