The emergence of cryptocurrencies and artificial intelligence (AI) has had a major effect on worldwide financial crime, allowing for increasingly complex fraud schemes. Criminal groups increasingly leverage these technologies, bundling them with sophisticated business models such as phishing-as-a-service and ransomware-as-a-service. The rapid growth of AI and cryptocurrencies has generated a sharp increase in organized financial crime targeting vulnerable people across borders, according to a recent INTERPOL assessment. Organized crime syndicates are using AI to create convincing deepfakes to dupe victims into false investment or romance scams and cryptocurrencies to transfer ill-gotten gains anonymously. One example is “romance baiting” fraud, in which trafficked people, often under duress to commit crimes, use AI-generated faces to dupe victims into financial scams. This hybrid romance and investment fraud scam has become widespread in Southeast Asia, Africa, and Latin America. Criminal networks repurpose government intelligence tools to target these narratives, making it difficult for authorities to detect and intervene. Finally, this paper examines the implications of  new fraud techniques for law enforcement and the urgent need for greater international cooperation and regulatory frameworks. It underlines the promotion of data exchange, capacity-building, and public–private partnerships as crucial mechanisms for tackling AI-powered financial fraud. This paper further highlights the need for consumer awareness for reporting mechanisms to tackle the growing risks of cryptocurrency and AI-enabled scams.