Police in the UK have shut down what they are claiming to be the biggest global iPhone scam ever seen. The scam, based in the UK but operating globally was said to be costing iPhone operator O2 over £1M a month.

Nine people have been arrested, accused of coordinating the global scam to defraud the telecommunications firm, O2.

In a series of early morning raids, police seized a large number of stolen iPhones and other evidence relating to the scam.

It appears that huge numbers of iPhones were being stolen (although who from is still unclear), and being sent overseas where the SIM cards were removed and plugged into auto-diallers, where they were continually phoning premium rate phone lines costing up to £10/min, presumably owned by the scammers. O2 were settling the bills immediately, before they realised the iPhone’s the SIMs came from More >