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Billion-dollar cyberfraud industry expands in Southeast Asia as criminals adopt new technologies

October 7th, 2024
Billion-dollar cyberfraud industry expands in Southeast Asia as criminals adopt new technologies

Source: UNODC.

new report reveals the explosive growth of the billion-dollar cyberfraud industry in Southeast Asia, as organized crime syndicates harness advanced technologies like AI and deepfakes to perpetrate large-scale scams. With financial losses reaching an estimated $37 billion in 2023, this sophisticated criminal ecosystem poses urgent challenges for governments and highlights the need for innovative solutions to combat transnational crime.

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