US-UK Alliance Targets Overseas Crypto Scam Centers
US and UK authorities have formed a historic alliance to combat overseas cryptocurrency scam centers. The partnership, announced on September 3, brings together US federal prosecutors with British agencies to target transnational networks operating in the crypto space.
The joint agreement aims to disrupt and dismantle these scam centers, which are estimated to cost Americans nearly $10 billion each year. Parallel investigations will be conducted into shared targets, while information about organized crime syndicates will be exchanged between the US and UK authorities.
A key component of this partnership is a planned joint industry disruption event in London in early October. This event will bring together private industry partners with law enforcement agencies to target scam networks and their associated infrastructure.
The agreement builds on earlier actions taken by federal agencies, including the restraint of over $700 million in cryptocurrency linked to scam-center laundering. The US has also directed executive action against foreign scam centers, requiring an action plan to identify responsible organizations and propose measures to prevent, disrupt, investigate, and dismantle them.