UK Leading the Global Fight against Crypto Fraud
TL;DR
- Crypto-enabled fraud cost victims at least $14 billion globally in 2025, with sophisticated scams like pig butchering and AI-powered social engineering reshaping the threat landscape.
- The UK is investing over £150 million to transform Action Fraud into a new National Fraud and Cyber Crime Reporting service.
- Project WINTERPROOF, led by the National Economic Crime Centre (NECC), focuses on fighting fraudsters with an overseas nexus who target the UK. With data showing 75% of all fraud against UK individuals and businesses is either instigated or facilitated from abroad, the project emphasises international collaboration with law enforcement agencies in high-risk jurisdictions to disrupt criminal groups engaged in high-harm…
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