Hong Kong romance scams netted $9M in a week; crypto fraud cases rise. Malaysia withdraws support for Blockchain Week over OnlyFans controversy. China warns of Bitcoin extortion using its name. FalconX cuts Singapore staff. South Korea plans stablecoin rules; Japan Bitget exits market.
The US has implemented a new global visa restriction policy targeting individuals involved in cybercrime, including online investment scams and sextortion. The policy, announced by Secretary of State Marco Rubio, also applies to immediate family members and aims to combat international cybercrime networks, particularly those defrauding US citizens.
India's Ministry of Home Affairs warns citizens about rising online investment scams. Cybercriminals use WhatsApp and Telegram to lure victims with fake high returns, fraudulent trading apps via private links, and blocked withdrawals. A retired scientist lost money in such a scam.
Hong Kong police arrested 69 individuals linked to a syndicate suspected of laundering approximately HK$200 million (US$25.5 million) from cross-border investment fraud. The operation, involving over 170 victims, targeted "mule" bank accounts used in the scheme.
Investment scams involving gold, crypto, and wine have surged, with over £220m lost in the past year. UK banks reported nearly 15,000 such scams in 2025, fueled by AI's ability to create sophisticated, large-scale deceptions. Overall fraud losses reached £1.28bn.
Dubai Police, in 'Tri-Force Sentinel', dismantled 9 scam hubs and arrested 276 suspects, mostly from Southeast Asia, for high-yield investment scams, 'pig butchering' schemes, and virtual currency fraud, with international cooperation including the FBI and China's Ministry of Public Security.
Investment scams targeting Hong Kong's elderly rose 17% in Q1 2026 despite an overall decline in cases, with police warning that better-educated retirees with more investment experience are increasingly vulnerable. Elderly victims' losses contributed to an 18.6% rise in total scam losses to HK$1.85 billion, even as case numbers fell 0.6%. The 1,264 victims over 60 suffered HK$530 million in losses, a 79% year-on-year increase.
