U.S., UK and Canada joint action to freeze $12 million in encryption fraud funds

Operation Atlantic, a transnational law enforcement operation led by the United Kingdom, has recently made progress. Law enforcement agencies in the United States, the United Kingdom and Canada jointly froze more than US$12 million in crypto-fraud funds and identified more than 20,000 victims. The operation was launched in March this year and was led by the British National Crime Agency (NCA) and jointly implemented jointly with the U.S. Secret Service, the Ontario Provincial Police and the Ontario Securities Commission to focus on combating "approvalphishing"-type encryption scams. Law enforcement agencies said the operation targeted approximately US$45 million in related crypto-fraud losses and successfully froze some of the funds.