€25,000 for your old Nokia 1100

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During an ongoing investigation in to Cross Border ID Theft gangs that are specialized in card and on-line banking fraud. Ultrascan-kpo.com found an increasing demand for old Nokia’s 1100 mobile phone.

Nokia’s cheap 1100 handset has reportedly racked up “over 200 million sales” since it launched. But only the model 1100 made in Germany is wanted by the crime rings. Six months ago out of the ordinary offers started to float the internet fora and auction sites, prices started to rise above Nokia’s official price of around €100.

In January this year offers ranged from trading against iPods or cash €300. In the past two months prices ranged between €7,500 and €10,000 but this week a Nokia 1100 was sold for €25,000!

Further investigations revealed that, in particular East European gangs, were buying the German Nokia 1100, were able to hack it and insert any mobile phone number and use it for criminal purposes, especially to intercept the mobile (sms) TAN code during on-line banking fraud.

Ultrascan says the five-year old Nokia 1100 phone can be reprogrammed to respond to someone else’s number and intercept the mTAN (mobile Transaction Authentication Number) codes used by banks in Germany and Holland to authorise account transfers. To perpetrate the fraud, criminals would also need to know the victim’s bank log-in and passwords as well as their mobile phone number.

Ultrascan says it was able to perform the mTAN interception ruse just once on a hacked phone, and is conducting further tests to see how robust the method is.

To know if you have such a phone, look under the battery for ‘made in Germany’ and press *#0000# to see if you have firmware from 2003 or earlier.