Tuesday, 23 March 2020
Mobile phone companies are getting hit every-so-often by well organised criminals setting up premium phone lines. These premium content lines can charge callers various amounts per minute depending on the country's regulations. Betting tips, psychic advice, porn are all popular content. The fraudsters set up a premium content number (such as a 1550 number Ireland) which punters pay €5 a minute to call. For example a number is set up in Luxemburg. The fraudsters then organise a series of phones to call it from the UK, using Irish-registered mobile phones. The fraud is executed on Friday evening to last all over the weekend, running up large bills. Because the calls are made via different providers in different countries there can be a lag of several days before scam is shut down. Meanwhile the company in Luxembourg has racked up several €100,000 in charges. The key to the fraud is getting enough bill-pay sim cards from one jurisdiction to use in another. Even easier than Carousel Vat fraud. Read the brainy stuff here.