Telegram a haven for crypto launderers and fraudsters, reports UN
Telegram has become a haven for criminal networks in Southeast Asia, helping them to launder stolen funds using crypto, trade hacked data, and acquire tools for fraud, according to a United Nations (UN) report.
As reported by Reuters, the UN says the end-to-end encrypted app has fundamentally changed how organized crime operates. It found criminal enterprises in Southeast Asia, including Chinese syndicates, reportedly make between $27.4 billion and $36.5 billion annually.
Unlicensed crypto exchanges are also reportedly advertising money laundering services on the app. One advert identified by the UN claimed, “We move three million USDT stolen from overseas per day.”
Criminal networks use Telegram to trade stolen sensitive…
