US and UK Launch Joint Task Force to Dismantle Global Crypto Scam Centers

The US Department of Justice, UK National Crime Agency, and other top authorities signed a memorandum of understanding to jointly dismantle international crypto investment fraud networks. Reported US losses from these cyber-enabled scams spiked 89%, climbing from $4.57B in 2023 to a staggering $8.65B in 2025. The alliance plans to conduct parallel investigations, share intelligence on organized crime syndicates, and execute an in-person disruption operation in London this October. They're explicitly expanding the US Scam Center Strike Force, which initially launched to combat Chinese syndicates operating out of Southeast Asia. Governments in Southeast Asia are also pursuing tougher domestic measures, with Myanmar recently approving legislation that proposes life in prison for digital currency fraud.