The U.S. Department of Justice has established a "Fraud Center Strike Force" to combat cryptocurrency fraud in Southeast Asia.

[The U.S. Department of Justice Establishes “Fraud Center Strike Force” to Combat Southeast Asian Crypto Assets Fraud] According to U.S. media reports, the Department of Justice has announced the establishment of a new “Fraud Center Strike Force” aimed at combating the surge of crypto assets investment frauds initiated by transnational criminal organizations operating in Southeast Asia. In a statement on Wednesday, the department stated that this interagency task force aims to investigate, disrupt, and prosecute the most egregious fraud schemes, which are estimated to defraud Americans of nearly $10 billion each year. Criminal networks are running these schemes from bases in Cambodia, Laos, and Myanmar, where in certain areas, fraud revenues may account for nearly half of the local GDP. Victims in the U.S. are often lured into transferring funds to fraudulent crypto assets websites and applications hosted by U.S. companies, but this money is subsequently laundered abroad.