The U.S. CFTC, Department of Justice, FBI, and other federal agencies will jointly combat cryptocurrency fraud

ChainCatcher news, according to Bitcoin.com, the U.S. CFTC and the Department of Justice (DOJ) National Cryptocurrency Enforcement Team (NCET) held the inaugural Fraud Disruption meeting this week to address crypto scams such as pig butchering. These scams result in billions of dollars in losses for Americans each year, making them a key enforcement priority.

Participating agencies included the Federal Bureau of Investigation (FBI), the Social Security Administration, the U.S. Department of the Treasury, the Drug Enforcement Administration (DEA), the U.S. Postal Inspection Service, the U.S. Secret Service, the Office of the Attorney General for the District of Columbia, the Office of the Attorney General for the Commonwealth of Massachusetts, and the U.S. SEC.

CFTC Chairman Rostin Behnam emphasized the urgency of combating these schemes, stating, "It is shocking to hear the stories of countless Americans becoming targets of global criminal organizations." He highlighted the CFTC's commitment to strengthening customer protection initiatives against retail fraud.

The focus of the meeting was on prevention strategies, the technological disruption of fraud, and collaborative law enforcement efforts. Participants also launched anti-fraud campaigns to alert Americans to emerging scam threats.