The UK Serious Fraud Office (SFO) disclosed in June 2026 that it has launched an investigation into bankrupt British telecom firm Internet Mobile Communications Limited (IMC, also known as Bank of Telecom). Suspected offences include fraud, false accounting and money laundering. The company operated an international voice and messaging trading platform closely linked to the cross‑border A2P SMS industrial chain.
Headquartered in Chelmsford, Essex, IMC had operated telecom services for more than 12 years. At its peak, its business covered the globe, handling millions of minutes of internet calls and massive volumes of SMS transactions each year. It marketed itself as a leading virtual telecom trading marketplace. The company entered administration in June 2024, leaving substantial debts to creditors. Audits during insolvency proceedings uncovered a £15 million shortfall in its accounts.
The investigation was kept confidential in the early stage for operational needs. The SFO is running parallel cross‑border joint investigations with the US Attorney’s Office for the Southern District of New York. In early June 2026, the SFO interviewed a male suspect aged in his 60s under caution. The SFO stated that financial crimes are cross‑border in nature and it will conduct a full, independent and evidence‑led investigation. Further case details remain undisclosed; the investigation timeline and final outcome are uncertain. Conviction and custodial sentences are possible in comparable cases.
