UK’s largest fraud operation nets over 100 spoofing scammers


iSpoof allowed fraudsters, who paid in Bitcoin, to disguise their phone numbers so it appeared they were calling from major banks including Barclays, HSBC, Lloyds to trick people into giving them personal details. — Dreamstime/TNS

A global “spoofing shop” which scammed victims out of tens of millions of pounds has been thwarted by international law enforcement agencies.

London’s Metropolitan Police Service said on Nov 24 it had shut down fraud website iSpoof and made more than 100 UK arrests in connection with the case. The Met worked in coordination with the US Federal Bureau of Investigation, Europol and Dutch authorities to make the arrests.

iSpoof allowed fraudsters, who paid in Bitcoin, to disguise their phone numbers so it appeared they were calling from major banks including Barclays, HSBC, Lloyds to trick people into giving them personal details.

As many as 20 people every minute were being contacted by the scammers and iSpoof earned as much as £3.2mil (RM17.41mil) over one 20 month period from the scheme. Losses reported as a result of the iSpoof calls and texts is around £48mil (RM261.22mil), the Met said, adding that because fraud is vastly underreported, the full amount is believed to be much higher.

“The exploitation of technology by organised criminals is one of the greatest challenges for law enforcement in the 21st century,” said Met Commissioner Mark Rowley. “The Met is targeting the criminals at the centre of these illicit webs that cause misery for thousands.” – Bloomberg

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

US Cellular to sell some spectrum licenses to AT&T for $1 billion
Datadog raises annual forecast betting on AI-driven cybersecurity demand
Italy minister open to reviewing tax hike on cryptocurrencies
Dutch chipmaker NXP sees sales growth averaging 6-10% -CEO
Italy to change web tax in bid to overcome US objections
JAL-Sumitomo JV secures right to place order for up to 100 Archer air-taxis
Software provider EPAM lifts annual forecasts as IT spending rises
India raids offices of sellers using Amazon, Flipkart platforms, sources say
Arm Holdings shares fall as revenue forecast fails to impress investors
Amazon to invest $1.3 billion in Italy data centre business

Others Also Read