Question to the Home Office:

To ask the Secretary of State for the Home Department, whether she has had discussions with Action Fraud on (a) proposals for crypto asset rules and (b) support for investigations into scams.

We are replacing the current Action Fraud service with a new, improved service. The new service will provide better support services and reporting tools for victims, provide greater intelligence to law enforcement to support investigations, and allow for greater prevention and disruption at scale.

A phased introduction of the new service is now underway and will continue throughout 2025. Changes have already been made to improve the analysis of reports, the quality of intelligence drawn from them, and how quickly this is sent to police forces for investigation.

The new service has been designed to recognise crypto currency as both an enabler of frauds, such as investment fraud, and an enabler to the cashing out mechanism to realise the benefits of the criminal activity. This will ensure accurate reporting and deliver a greater understanding of the threat posed by crypto currency and how to tackle it more effectively.