Why Now is the Time for the UK to Lead the Global Fight against Crypto-enabled Fraud

This report outlines how crypto-enabled fraud has surged globally and how the UK is responding with a data-driven, internationally coordinated strategy that combines new policing structures (National Fraud Squad), the replacement of Action Fraud with the Report Fraud service, overseas capacity-building via Project WINTERPROOF, and joint sanctions actions. It emphasizes the centrality of blockchain analytics for tracing funds and enabling rapid, intelligence-led disruption, alongside regulatory measures (APP reimbursement model, Online Fraud Charter, Online Safety Act) that shift accountability to private-sector firms. The piece advocates for AI-powered, preventative controls (e.g., Chainalysis Alterya) to stop scams at the point of transaction and frames fraud as a national security issue requiring sustained public-private collaboration.