Interpol has identified a major international fraud network as a global threat and announced efforts to combat it. This network is involved in large-scale online fraud, worker smuggling, and illegal transactions amounting to billions of dollars through cryptocurrency. The initiative aims to disrupt criminal systems that undermine the global financial framework. With the rising popularity of cryptocurrencies, incidents of fraud, including fake investment schemes, phishing attacks, and other financial crimes, have increased. Interpol’s designation of this network as a global threat highlights that crypto-related fraud activities have expanded beyond limited regions to a worldwide scale.
Cryptocurrency is a digital asset based on blockchain technology, characterized by its decentralized nature, meaning no central bank or government has full control over it. Criminal elements exploit this feature to conduct illicit financial activities, posing risks to the global financial system. Following Interpol’s action, increased international cooperation against crypto fraud is expected, with joint operations targeting such networks. However, legal and technical challenges remain due to the nature of cryptocurrencies, which must be addressed in the future. This move represents a significant step toward preventing financial fraud globally and will help make cryptocurrency use safer for investors and the general public.
Source: decrypt
