US and UK Launch Joint Enforcement System to Combat $12.7 Billion Cryptocurrency Fraud

The United States and the United Kingdom have launched a joint law enforcement system targeting overseas cryptocurrency fraud centers. The two countries plan to neutralize these fraud centers through parallel investigations, sharing information on organized crime networks, and coordinating jurisdiction for prosecutions. The U.S. Department of Justice announced on the 4th that it has signed a memorandum of understanding with the Crown Prosecution Service of England and Wales and the National Crime Agency of the UK in Washington, D.C. This agreement includes parallel investigations into common targets and prioritization of related cases. According to the Federal Bureau of Investigation (FBI), losses reported from cyber-based investment fraud are expected to increase by 89% from $4.57 billion in 2023 to $8.65 billion in 2025. The Scam Center Task Force is set to launch in November 2025, with a primary focus on Chinese organized crime networks operating mainly in Southeast Asia. The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has stated that financial transactions related to digital asset investment fraud suspected to be conducted by overseas fraud centers amount to $12.7 billion. The two countries plan to hold a public-private face-to-face disruption event in London in early October.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.