Cross-border law enforcement is finally getting serious

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Hong Kong police, together with nine countries, launched an international anti-fraud operation, involving the largest case where about half of the stolen funds were converted into stablecoins.
Hong Kong Police Force, in collaboration with law enforcement agencies from multiple countries through FRONTIER+, carried out cross-border anti-fraud operations from March 10 to May 7.
Ten jurisdictions arrested 3,018 people, involving over 138,000 cases, with losses of approximately $752 million, freezing 101,989 accounts, and intercepting about $161 million in scam funds.
The largest case was an account hijacking incident in April: a Singaporean company lost $36 million, with funds transferred through banks in multiple countries and stablecoins, ultimately intercepting $20 million.
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