Two men sentenced for £187,000 banking fraud in UK

Mohammed Hassan Farooq and Deva Raval have been sentenced at Inner London Crown Court for their roles in an organized crime network that stole over £187,000 through one-time passcode fraud.

Operating between November 2024 and July 2025, the Leicester-based group targeted elderly and vulnerable bank customers using fraudulent text messages. These messages impersonated organizations such as the DVLA and various retailers to trick victims into providing banking details via malicious links.

The duo then used phone and video calls to impersonate bank staff, deceiving victims into handing over one-time passcodes or downloading applications to facilitate fund transfers. Banking systems flagged and stopped an additional £300,000 in attempted losses.

Investigators found that Farooq played a leading role by purchasing nearly 12,000 sets of stolen personal and financial data from Telegram channels. Raval was involved in the daily execution of the fraud, contacting victims while posing as bank officials to authorize payments. The Dedicated Card and Payment Crime Unit (DCPCU) led the investigation and arrest.