$10 Billion Stolen: US and UK Unite Against Transnational Crypto Scams
US and UK law enforcement agencies have signed a historic agreement to tackle transnational crypto scams that have been draining over $10 billion annually from American citizens. The Memorandum of Understanding (MoU) between the US Attorney's Office for the District of Columbia, the Crown Prosecution Service of England and Wales, and the National Crime Agency marks a significant escalation in the fight against cyber-enabled investment fraud.
The partnership aims to dismantle overseas scam compounds by running parallel investigations into shared targets and sharing intelligence on organized crime syndicates. The authorities have already identified overlapping cases and will work together to decide which country prosecutes each case.
US Attorney Jeanine Ferris Pirro described the agreement as a 'wartime alliance' against transnational crime, highlighting that Chinese TOC networks are using human-trafficked labor to increase their profits. The National Crime Agency will host an in-person disruption operation with private industry partners in London in early October.