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

The CFTC and the Department of Justice’s (DOJ) National Cryptocurrency Enforcement Team (NCET) held their inaugural Fraud Disruption conference this week to address crypto scams such as scams that cost Americans billions of dollars each year, making them a key enforcement priority. Agencies participating in the conference included the FBI, Social Security Administration, U.S. Treasury, Drug Enforcement Administration (DEA), U.S. Postal Inspection Service, U.S. Secret Service, U.S. Attorney’s Office for the District of Columbia, U.S. Attorney’s Office for Massachusetts, and the U.S. Securities and Exchange Commission. CFTC Chairman Rostin Behnam stressed the urgency of combating these schemes, saying, “It is alarming to hear countless stories of Americans being targeted by scams by global criminal organizations.” He emphasized the CFTC’s commitment to strengthening customer protection initiatives against retail fraud. The conference focused on prevention strategies, technical disruption of fraud, and collaborative law enforcement efforts. Participants also launched an anti-fraud campaign to alert Americans to emerging fraud threats. (Bitcoin.com)