According to Odaily, the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice's (DOJ) National Cryptocurrency Enforcement Team (NCET) held their inaugural Fraud Disruption meeting this week to address cryptocurrency scams such as 'pig butchering' schemes. These scams result in billions of dollars in losses for Americans each year, making them a critical focus for law enforcement agencies.
The meeting saw participation from several key agencies, including the Federal Bureau of Investigation (FBI), Social Security Administration, Department of the 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 the District of Massachusetts, and the Securities and Exchange Commission (SEC). CFTC Chairman Rostin Behnam underscored the urgency of combating these schemes, stating, 'Hearing countless stories of Americans becoming targets of global criminal organizations is shocking.' He emphasized the CFTC's commitment to enhancing customer protection measures against retail fraud.
The meeting focused on prevention strategies, technological disruption of fraud, and collaborative enforcement efforts. Participants also launched an anti-fraud campaign to alert Americans to emerging scam threats.