Interpol declares crypto fraud a global criminal threat

Key points:

• Interpol has officially recognized crypto fraud as part of a large transnational criminal network
• Fraud centers use forced labor, fake job offers, and cryptocurrencies to launder money.
• Transactions worth billions of dollars go through complex schemes: stablecoins, cheap networks, and fast cross-chain swaps.

Interpol has recognized that crypto fraud has become a key part of transnational criminal networks. At the General Assembly in Marrakech, member countries supported a resolution to strengthen the fight against these schemes.

How the scam center industry works

Criminal groups set up camps where they lure people under the guise of employment abroad. Victims are forced to commit online fraud: phishing, romance scams, investment schemes, and crypto scams. These centers use modern technology to hide their operations and quickly change tactics.

Another crypto fraud gang busted in Europe: how it happened

Law enforcement agencies from France, Belgium, Cyprus, Germany, and Spain participated in a coordinated operation

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Initially, such schemes were active in Myanmar, Cambodia, and Laos. Later, they spread to China, India, Russia, Colombia, East Africa, and even the United Kingdom.

Financial flows and links to cryptocurrencies

Ari Redbord, a former Treasury Department official who now heads global policy at analytics firm TRM Labs, noted:

“A few years ago, flows from pig-butchering operations followed relatively predictable paths through mainstream exchanges. Today, they are far more reliant on stablecoins, low-fee chains, and rapid cross-chain swaps to fragment movement and buy time.”

Investigations have shown that platforms linked to fraudsters have processed billions of dollars in crypto transactions. The US Treasury Department has already taken action against companies involved in money laundering through stablecoins, low-fee blockchains, and fast cross-chain swaps. Experts note an increase in the use of Chinese money laundering networks and over-the-counter brokers, which complicates control.

According to specialists, it is the joint actions of different countries that make it possible to track assets more effectively and block the financial channels of criminals. New US working groups and cooperation with Asia and Europe show that law enforcement agencies now have more opportunities to effectively counter fraudulent networks.