Fraudster used encrypted social media platform to steal millions from 30,000 victims

A North London fraudster was jailed for swindling a total of £1.9 million from over 30,000 victims.

Ramzan Abubakarov, 21, was sentenced to jail for three years on February 8, at Croydon Crown Court.

The scammer - from Hendon - was found guilty of fraud by false representation, supply of articles for use in fraud, and possession of articles for use in fraud in a trial last December at the same court.

Abubakarov carried out his machiavellian acts on the encrypted social media platform Telegram.

He used various pen names to engage in fraud and collaborate with thousands of other cyber criminals.

He was identified by the Cyber Defence Alliance - CDA - in November 2020 and so began the Met’s Cyber Crime team’s investigation.

The team found him through proactive policing cryptocurrency track and trace, communications data analysis and partner work with UK Banks and HMRC.

Abubakarov was arrested in November 2021 and several devices including laptops and phones were seized from his home address.

A thorough forensic analysis of the devices led to the discovery of compromised personal and financial data of more than 30,000 victims, custom phishing kits of various UK and international banks and more than one million UK and international mobile numbers.

It was found that he coordinated fraudulent activities on his Telegram channel which was one of the largest Telegram channels with a British target.

He was responsible for creating a web service for cybercriminals called “iChop.it.” which was a platform for other cybercriminals to buy and sell compromised personal and financial data.

Abubakarov advertised and posted evidence of engaging in various frauds such as applying for Bounce Back Loans, submitting fraudulent HMRC tax return claims and gaining unauthorised access to bank accounts of unsuspecting members of the public.

By selling these tools to other criminals, Abubakarov was responsible for a financial loss amounting to more than £ 1.9 million of victims’ money.

Detective Superintendent Helen Rance, who leads on cybercrime for the Met, said: “Taking away the tools and systems that enable criminals to exploit and target innocent people is a great challenge to us and our partners, however we are dedicated to bringing these criminals to justice.”