The United Nations Office on Drugs and Crime (UNODC) has released a report urging Southeast Asian nations to criminalize the operation of money service businesses and virtual asset service providers without a license in an effort to combat cyber-enabled fraud in the region. The agency found that some VASPs, including those with links to known criminals, are facilitating transactions for fraud outfits and high-risk gambling sites. The report also highlighted the involvement of entities connected to large-scale drug trafficking, human trafficking, cybercrime, and other illicit activities. The UNODC recommended greater monitoring of organized crime involvement in various businesses, including casinos, junkets, and cyber fraud operations. It also emphasized the need for better training for authorities in online gambling operations and money laundering methods, particularly those enabled by cryptocurrencies. The report noted that scammers are diversifying their tactics and utilizing new technologies such as artificial intelligence and deep fakes. The UNODC called on governments to prioritize solutions to address the evolving cybercrime ecosystem in the region.
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