Proactive Investors - Two dozen UK individuals have been arrested and technology service LabHost has been shut down after being implicated in widespread online fraud in an international police operation that included the Metropolitan Police, City of London Police and UK National Crime Agency.
The service facilitated large-scale "phishing" scams by allowing criminals without technical skills to purchase fraudulent schemes that targeted unsuspecting victims through deceptive text messages and counterfeit websites.
The crackdown involved the UK's law enforcement agencies and international partners from 17 countries, culminating in the arrest of 37 individuals, of which 24 were in the UK, with notable arrests occurring at Luton and Manchester airports.
This illicit service contributed to the theft of significant personal data, including 480,000 card numbers and 64,000 PIN codes, collectively referred to as "fullz data" in criminal jargon. Most victims were aged 25 to 44 years, typically those who conduct most of their lives online.
Although the total amount of money stolen has not been precisely determined, estimates suggest that LabHost profited nearly £1 million ($1.25 million) from its operations.
The Met Polic said its partners including Microsoft (NASDAQ:MSFT), blockchain data and analysis outfit Chainalysis, cyber three specialists Intel (NASDAQ:INTC) 471, non-profit The Shadowserver Foundation and cybersecurity firm Trend Micro "at the centre" of its efforts to bring down the platform.
Dame Lynne Owens, Metropolitan Police deputy commissioner, emphasized the pervasive threat of fraud, stating, "You are more likely to be a victim of fraud than any other crime."
Adrian Searle, director of the National Economic Crime Centre, commented on the technological evolution of crime, noting, "Technology is enabling crime to be delivered at scale in an almost industrial fashion."
He said LabHost exemplified this trend by providing criminals with ready-to-use online tools that facilitated their fraudulent activities against victims in the UK and worldwide.
About 25,000 out of an estimated 70,000 UK victims have been identified and will be sent text messages warning them which fake online payment services and shopping sites could have taken their money. They will be advised to go to a Met Police website for advice.
The Met began work on the case in June 2022 after detectives received crucial intelligence about LabHost’s activity from the Cyber Defence Alliance.