Southeast Asian Scam Networks Cost Victims Up to $114B in a Year: UN

60-second summary

Southeast Asian scam networks are costing victims up to $114 billion in a year, according to the UNODC. Once-fragmented syndicates have fused into a single, tech-driven criminal economy that increasingly runs on crypto, posing a significant threat to global financial stability. This alarming trend highlights the need for enhanced regulatory measures to combat crypto-facilitated crimes.