Bad actors in Southeast Asia are increasingly leveraging crypto and “producing larger scale and harder to detect fraud, money laundering, underground banking, and online scams,” according to a new report released by the United Nations Office on Drugs and Crime (UNODC).
UNODC estimates that financial losses from scams targeting victims in East and Southeast Asia range between $18 billion and $37 billion in 2023, with a significant portion attributed to organized crime groups in the region.
The report highlights the integration of emerging technologies into criminal activities in the region—including cryptocurrencies and generative AI.
Slava Demchuk, UNODC Consultant and the CEO of crypto compliance firm AMLBot believes that the issue…
Oct 17 2024
