ORLANDO, Fla. – According to the Federal Trade Commission, scams originating from phone calls or texts have already cost Americans over $1 billion in 2024. These schemes normally involve impersonation and deception designed to steal your money or your personal information.
One of the key culprits enabling these crimes was a platform known as Russian Coms.
Established in 2021, the operation, described as a “spoofing kit for scammers,” provided criminals with preloaded smartphones and spoofing software that disguised their identities, making them appear as legitimate financial institutions.
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Criminals combined these tools with personal data obtained from data breaches to build trust with their victims. This allowed scammers to convince unsuspecting victims to transfer funds to fraudulent accounts.
Russian Coms users are thought to be responsible for defrauding victims out of tens of millions of dollars globally
“They’re using these kits to actually be very effective at scamming you,” said Alex Quilici, founder of YouMail, an app aimed at blocking scam calls. “When they combine that with data from breaches, it’s pretty easy to convince people it really is the bank.” Quilici noted that many victims were persuaded to transfer money under the guise of protecting their accounts from fraud—money they would never get back. Victims of all ages suffered losses, and calls were made to individuals in 107 different countries, including the U.S.
The Russian Coms platform was recently dismantled by the UK’s National Crime Agency and four suspects believed to be involved with the organization were arrested. Quilici believes the shutdown is a significant victory.
“Any time law enforcement can get to the people who are causing the problem, it’s a big win,” Quilici explained. However, he cautioned that shutting down one operation is only a temporary solution. “Someone’s going to take their place,” he warned.
Financial scams affect everyone, regardless of age or tech-savviness. Quilici emphasized that awareness is crucial in combating fraud.
“People just have to be extremely skeptical of any text message or any call claiming to be a financial institution,” he advised.
Experts recommend never sharing personal information or verification codes over the phone. Instead, hang up and call the institution directly using a verified number from your bank card or official website.
Apps like YouMail play a critical role in reducing the impact of scam calls. By identifying and blocking suspicious numbers, these tools help protect users. Quilici highlighted YouMail’s partnership with law enforcement, banks, and regulators.
“The more people that are on YouMail, the more of these scam attempts we see, and the faster we can provide data to shut them down,” Quilici said.
While victories like the Russian Coms takedown mark progress, experts agree that vigilance is key. As Quilici put it, “We like blocking calls when they finally get through, but the real thing is to shut them off at the start.”
There is encouraging news of note. The Federal Trade Commission’s latest data reveals that complaints about unwanted calls have dropped for the third consecutive year, down by more than half since 2021. This decrease reflects efforts to block scam calls at their source and an increase in public awareness. Another reason for the decrease stems from Operation Stop Scam Calls. Started by the FTC in 2023, the effort marks the largest crackdown on illegal telemarketing in the agency’s history.
This year, the FTC also issued a rule banning impersonation of government or businesses and expanded the Telemarketing Sales Rule (TSR) to protect businesses dealing with illegal telemarketing. The FTC is also confronting Artificial Intelligence and voice cloning, by launching a Voice Cloning Challenge and clarifying that the TSR covers AI-enabled scam calls.
Remember, do not fall for schemes, and do not get ripped off, but if you, do email me at rbreuer@wkmg.com