UN says scam networks stole up to US$114B

• The United Nations said scam networks in Southeast Asia may have stolen up to US$114 billion in a year.
• The report said organised crime groups are using cryptocurrencies, online fraud and advanced technology to target victims.
• The UN called for stronger international action to disrupt the criminal networks.

The United Nations said scam networks in Southeast Asia may have stolen up to US$114 billion from victims in one year.

The report said organised crime groups use cryptocurrencies, fake investment schemes and online scams to move stolen funds.

The UN said the criminal groups have expanded across the region despite increased law enforcement efforts.

The report said cross-border cooperation is needed to disrupt the networks and recover criminal proceeds.

Southeast Asia has become a major centre for online fraud, with many operations linked to organised crime groups.

The UN warned that the rapid growth of digital payments and cryptocurrencies has created new opportunities for criminals to move money.