In a large mixing bowl, whisk together the all-purpose flour, baking powder, sugar, yeast, and salt. Make a well in the center and pour in the warm milk, melted butter, and vegetable oil. Stir until everything is combined and a soft dough forms.
Turn the dough out onto a lightly floured surface. Knead gently for about 1-2 minutes until the dough is smooth. Be careful not to over-knead as this can make the scones tough.
Divide the dough into equal portions, typically around 8 pieces. Pat each piece into a disc shape, about 1/2 inch thick.
In a frying pan or deep fryer, heat vegetable oil over medium heat. You want enough oil to submerge the scones partially.
Once the oil is hot, carefully place the scones in the oil, a few at a time, to avoid overcrowding. Fry for about 2-3 minutes on each side, or until they are golden brown. Use a slotted spoon to remove them from the oil and place them on paper towels to drain.
While the scones are still warm, top them with your choice of toppings. Some popular options include honey butter, jam, or powdered sugar.