The cybercrime syndicate has earned between $18 billion and $37 billion and has stepped up its activity in Southeast Asia despite the efforts of law enforcement agencies. This was reported by Bloomberg, citing a United Nations (UN) report.
“The transnational organized crime threat landscape in Southeast Asia is evolving faster than in any previous point in history,” according to a report by the United Nations Office on Drugs and Crime.
Since the beginning of the pandemic, countries in the Mekong region such as Myanmar, Cambodia, and Laos have become the center of criminal syndicates. They use online fraud to make illegal money. In particular, cybercriminals used romance schemes, cryptocurrency fraud, money laundering, and illegal gambling.
Cybercriminals use different business models and new technologies to steal money. Their tools include malware, dipfakes, and generative artificial intelligence. In addition, they traffic people who later work in fraud centers, casinos, and hotels.
“The sheer scale of proceeds being generated within the region’s booming illicit economy has required the professionalization and innovation of money laundering activities, and transnational criminal groups in Southeast Asia have emerged as global market leaders,” the UN report says.
Earlier this year, Rakuten Viber conducted a survey among Ukrainians, which revealed that 81% of users had faced online fraud last year.