In an era where digital transactions are commonplace, cybercrime has emerged as a significant threat. Recently, two major operations led to the dismantling of cybercrime networks, demonstrating the relentless efforts of law enforcement agencies worldwide.
View Whitepaper
In an era where digital transactions are commonplace, cybercrime has emerged as a significant threat. Recently, two major operations led to the dismantling of cybercrime networks, demonstrating the relentless efforts of law enforcement agencies worldwide.
The first operation, led by the Metropolitan Police, targeted a global cyber gang accused of industrial-scale fraud. The gang used a technology service called LabHost, which enabled criminals to send fraudulent text messages designed to trick victims into making online payments.
LabHost, operating on the dark web, facilitated the theft of identity information, including 480,000 card numbers and 64,000 PIN codes. The police estimate that LabHost made nearly £1m ($1.25m) in profits.
The operation arrested 37 people worldwide, with younger internet users being the most likely victims of the “phishing” scam. The police are now contacting the victims and have secured their details found in a data dump obtained from LabHost.
The second operation was the UK’s biggest-ever fraud sting, which brought down the largest phone number spoofing site used by criminals to scam thousands of victims out of millions of pounds. The site, ispoof.cc, was described by police as an online fraud shop.
The site allowed criminals to mask their phone numbers, tricking victims into thinking their bank was contacting them. This led to victims passing on personal details that allowed the fraudsters to steal cash. One victim lost £3 million, and the average loss among the 4,785 people who reported being targeted by Action Fraud is £10,000.
The operation led to 120 arrests, including the alleged site administrator, who was living a lavish lifestyle. The site is said to have made more than £3 million profit.
These operations highlight the growing threat of cybercrime and the importance of cybersecurity. They also underscore the need for individuals to be vigilant when receiving unsolicited messages or calls. Remember, legitimate organisations will never ask for sensitive information via text or email
