The United Nations says cybercrime syndicates operating from East and Southeast Asia have inflicted at least $37 billion in losses on the region, with their activities now spreading globally. A report by the UN Office on Drugs and Crime (UNODC) warns that the networks, mostly run by Chinese and Southeast Asian gangs, are expanding operations into Africa, South America, and the Pacific Islands.
The syndicates have exploited trafficked labour and operated from special economic zones in Myanmar, Cambodia, and Laos. Victims are targeted through fake investment schemes, romance scams, and cryptocurrency fraud. In June 2023, Libyan authorities arrested 50 Chinese nationals linked to illegal crypto mining.
Also Read: CBN to charge cybercrime levy at 0.005% in new guidelines
The UN says these criminal groups are now forging links with international crime cartels, including South American drug traffickers and the Italian mafia, to facilitate money laundering. New technologies and encrypted digital tools have enabled them to build complex, self-contained criminal ecosystems.
Despite recent crackdowns, the UN warns that enforcement efforts have only displaced the operations. It has urged governments worldwide to boost cooperation and target the financial infrastructure sustaining these global crime networks.
Leave feedback about this
You must be logged in to post a comment.