Asian crime groups exploit technology for cyber fraud – Study – The Shib Daily

Asian organized crime groups are reportedly coming together and using malware, generative artificial intelligence (AI) and deepfakes to expand their reach and increase their profits. Such a trend was shared in a report from the UN Office on Drugs and Crime (UNODC) on Monday.

The report, titled ‘Transnational Organized Crime and the Convergence of Cyber-Enabled Fraud, Underground Banking, and Technological Innovation: A Shifting Threat Landscape’, describes how criminal organizations use advanced technologies to conceal their activities, launder money and evade law enforcement. bypass. .

“Organized crime groups are converging and exploiting vulnerabilities, and the evolving situation is rapidly outpacing the ability of governments to contain it,” said Masood Karimipour, UNODC Regional Representative for Southeast Asia and the Pacific.

“By taking advantage of technological advances, criminal groups are producing larger-scale and harder-to-detect fraud, money laundering, underground banking and online scams. This has led to the emergence of a criminal services economy, and the region has now become a major testing ground for transnational criminal networks. They want to expand their influence and diversify into new business areas,” he added.

The report also sheds light on several cases of Asian crime syndicates exploiting technology. For example:

Illegal online casino operators are diversifying their activities into cyber fraud and crypto-based money laundering services.
Unregulated gambling platforms and VASPs (Virtual Asset Service Providers) are used to move criminal proceeds.
Human trafficking organizations for coercive crime use fake job advertisements to recruit victims for illegal scam complexes.
AI-driven crimes involving deepfakes are on the rise, demonstrating a significant increase in the number of mentions of such content targeting criminal groups.

Crypto Scams a favorite of Asian crime groups

The UNODC report also highlights how illegal online casino operators have diversified their business activities to include cyber fraud. It shows how organized Asian crime groups use their influence within casino complexes, special economic zones and border areas to conceal illegal activities.

“It is more important than ever that governments recognize the severity, scale and scope of this truly global threat, and prioritize solutions that address the region’s rapidly evolving criminal ecosystem,” Karimipour said.

The Shib newspaper previously reported that South Korean prosecutors have charged a group of suspected fraudsters who allegedly posed as regulators to extort $22.7 million from victims.

The scammers allegedly set up fake trading platforms such as BISSNEX and BDCDP, and then used YouTube channels and the Naver Band chat app to lure in investors. After the victims signed up, the group sent fake letters, posing as official correspondence from the financial institution. Supervisory Service (FSS) and the Korean National Police.

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Gairika holds positions at BTC. This article is for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult a qualified financial advisor before making any investment decisions.

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