Fraud
Crypto wallets received a record $158 billion in illicit funds last year
Illegal cryptocurrency flows reached a record $158 billion in 2025, reversing a three-year trend of declining amounts from $86B in 2021 to $64B in 2024. This sharp 145% increase is being reported by blockchain intelligence experts at TRM Labs, who noted that it comes despite the illicit activity share of the total on-chain volume actually falling […]
European authorities dismantle call center fraud ring in Ukraine
European law enforcement authorities dismantled a fraud network operating call centers in Ukraine that scammed victims across Europe out of more than 10 million euros. Authorities from the Czech Republic, Latvia, Lithuania, and Ukraine (supported by Eurojust) arrested 12 suspects out of 45 identified during the investigation. They also seized 21 vehicles, weapons, a polygraph […]
FBI: Cybercriminals stole $262M by impersonating bank support teams
The FBI warned today of a massive surge in account takeover (ATO) fraud schemes and said that cybercriminals impersonating financial institutions have stolen over $262 million in ATO attacks since the start of the year. Since January 2025, the FBI’s Internet Crime Complaint Center (IC3) has received over 5,100 complaints, with the attacks impacting individuals, as well as businesses and organizations across […]
US announces new strike force targeting Chinese crypto scammers
U.S. federal authorities have established a new task force to disrupt Chinese cryptocurrency scam networks that defraud Americans of nearly $10 billion annually. The Scam Center Strike Force team, supported by agents from the U.S. Attorney’s Office, the Department of Justice, the FBI, and the Secret Service, investigates and prosecutes criminal groups operating large-scale cryptocurrency investment […]
“Bitcoin Queen” gets 11 years in prison for $7.3 billion Bitcoin scam
A Chinese woman known as the “Bitcoin Queen” was sentenced in London to 11 years and eight months in jail for laundering Bitcoin from a £5.5 billion ($7.3 billion) cryptocurrency investment scheme. The sentence follows a seven-year investigation by the Met’s Economic Crime team into international money laundering, which revealed that the 47-year-old woman, Zhimin Qian […]
UK carriers to block spoofed phone numbers in fraud crackdown
Under a new partnership with the government aimed at combating fraud, Britain’s largest mobile carriers have committed to upgrading their networks to eliminate scammers’ ability to spoof phone numbers within a year. This agreement is part of the new Telecoms Charter, which brings together law enforcement, government agencies, and Britain’s top mobile networks, including BT […]
Police busts credit card fraud rings with 4.3 million victims
International authorities have dismantled three massive credit card fraud and money laundering networks, linked to losses exceeding €300 million ($344 million) and affecting over 4.3 million cardholders across 193 countries. The November 4th joint action, dubbed “Operation Chargeback,” included investigators from Germany, the USA, Canada, Singapore, Luxembourg, Cyprus, Spain, Italy, and the Netherlands. The operation […]
Police arrests suspects linked to €600 million crypto fraud ring
European law enforcement authorities have arrested nine suspected money launderers who set up a cryptocurrency fraud network that stole over €600 million ($689 million) from victims across multiple countries. The fraudsters allegedly created fake cryptocurrency investment platforms that looked legitimate and promised high returns, and recruited victims through various means, including social media and cold […]
Police dismantles crypto fraud ring linked to €100 million in losses
Law enforcement authorities in Europe have arrested five suspects linked to a cryptocurrency investment fraud ring that stole over €100 million ($118 million) from more than 100 victims. The joint operation started in September 2020 and was carried out by investigative teams from Spain, Portugal, Bulgaria, Italy, Lithuania, and Romania, coordinated by Eurojust and supported […]
U.S. sanctions cyber scammers who stole billions from Americans
The U.S. Department of the Treasury has sanctioned several large networks of cyber scam operations in Southeast Asia, which stole over $10 billion from Americans last year. These operations, mainly those in Burma and Cambodia, are notorious for using forced labor, human trafficking, and physical violence, essentially operating as modern slavery farms that conduct online fraud. The […]