The United Arab Emirates (UAE) has led a three-month international operation involving 30 countries and 13 private-sector companies that identified more than $39 billion in funds and cryptocurrencies linked to fraud, as authorities intensify efforts to disrupt AI-powered scams and cross-border digital crime.
The operation, named Confrontation Ghost, ran from July 1 to September 30, 2026, under the UAE Ministry of Interior. It brought together law enforcement agencies, INTERPOL, the Global Anti-Scam Alliance (GASA) and technology companies to target AI-enabled fraud, digital financial crime and technology-facilitated sextortion.
According to the ministry’s October 22 announcement, authorities identified more than 15,500 victims and 3,500 suspects, made more than 960 arrests and raided 29 fraud centres. Participating agencies also exchanged more than 9,000 pieces of intelligence to investigate criminal networks operating across national borders.
Authorities Target Fraud Networks Across 30 Countries
The operation also led to the shutdown of more than 570 social media accounts used to facilitate fraud and the identification of 4,126 bank accounts linked to fraudulent activity. Authorities and private-sector partners are working towards recovering the identified assets, although the announcement did not specify how much has been recovered.
Participating countries included the United Kingdom, Canada, Japan, China, France, Kenya, Singapore and the Netherlands. Private-sector participants included Meta, TikTok, Mastercard, Huawei, Crypto.com, Group-IB and Trend Micro. The operation’s results were presented at a UAE-led side event during the 13th session of the Conference of the Parties to the United Nations Convention against Transnational Organized Crime in Vienna, Austria.
Colonel Dana Humaid Al Marzouqi, Director General of the International Affairs Bureau at the UAE Ministry of Interior, said the operation translated shared intelligence into coordinated action against cross-border criminal networks.
“This first-of-its-kind initiative demonstrates how the UAE continues to drive practical international responses to evolving threats such as AI-enabled fraud and cross-border scams, strengthening collective resilience for all participating nations.”
The United Nations Office on Drugs and Crime commended the UAE’s role in bringing together law enforcement agencies, financial institutions and technology companies to combat organised fraud. The operation comes as financial institutions reassess the risks posed by artificial intelligence and automated systems. Major US banks, including Morgan Stanley, Bank of America and JPMorgan, have restricted third-party AI agents from accessing customer accounts amid concerns about automated tools attempting account-related actions without clear customer authorisation.
Investor Takeaway
The UAE-led operation identified more than $39 billion in funds and cryptocurrencies linked to fraud, 15,500 victims and 3,500 suspects, while making more than 960 arrests across a three-month campaign.
Financial Institutions Expand Fraud Detection Measures
Financial companies are also investing in technologies that identify suspicious activity. Visa’s reported $2.4 billion acquisition of fraud-intelligence company BioCatch highlights this trend, with the company’s technology analysing behavioural patterns such as typing and device interactions to help detect potentially fraudulent activity.
The UAE has continued to develop its digital infrastructure alongside these efforts. Innovation City introduced blockchain-based business identities for companies registered in its Ras Al Khaimah free zone, using verifiable on-chain credentials for business identification.
Separately, the Blockchain for Good Alliance and the United Nations Development Programme launched a two-year digital safety programme on October 19 to strengthen cybersecurity knowledge and promote responsible technology use. The UAE Ministry of Interior said it would continue working with international authorities and private-sector partners to strengthen cooperation against transnational digital fraud.
Investor Takeaway
Banks and technology firms are strengthening fraud prevention through restrictions on unauthorised AI agents and investments in behavioural analytics, blockchain-based identity systems and digital safety initiatives.