UK and US Form Joint Alliance to Tackle Cryptocurrency Fraud

The United States and the United Kingdom have established a joint law enforcement alliance to combat cryptocurrency fraud and online investment scams. The U.S. Department of Justice announced that the U.S. Attorney's Office for the District of Columbia, the UK Crown Prosecution Service, and the UK's National Crime Agency have signed a memorandum of understanding. This agreement aims to facilitate parallel investigations, share intelligence on organized crime groups, and negotiate jurisdictional prosecution rights for specific cases.

This initiative builds on the 'Fraud Center Task Force' launched in November 2025 by U.S. Attorney Jeanine Ferris Pirro, which focuses on Chinese organized crime networks in Southeast Asia involved in cryptocurrency scams. These scams are often linked to human trafficking and money laundering. The task force includes various agencies, such as the FBI and the U.S. Secret Service, and collaborates with the U.S. Department of the Treasury and private enterprises to dismantle fraud operations and recover funds for victims.

The Department of Justice highlighted a significant increase in reported losses from cryptocurrency investment scams in the U.S., which rose from $4.57 billion in 2023 to $8.65 billion in 2025. International law enforcement has previously coordinated efforts against such scams, including a raid in Dubai on April 29 that led to the arrest of 276 individuals and the closure of nine scam centers. Additionally, several Southeast Asian countries are enhancing their domestic laws to address these issues, with Myanmar's parliament recently passing a bill imposing severe penalties for digital currency fraud.

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Source: KLEA News