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November 22, 2024

UN warns massive billion-dollar fraud networks are on the rise in Southeast Asia | usagoldmines.com

A new report from the United Nations Office on Drugs and Crime has revealed crime syndicates in Southeast Asia are increasingly using technologies such as deepfakes, malware, and generative AI in their operations to trick victims.

Analysis of the threat landscape by the UN warned criminals have adapted to technological advances – with an estimated loss of between $18 billion and $37 billion from scams targeting people in East and SouthEast Asia in 2023.

This included an over 600% increase in mentions of deepfake related content in the first half of 2024, with the Philippines, Vietnam, and Japan all suffering over 2500% increases between 2022 and 2023.

Crime-as-a-service

Specifically, the UN report claims criminals have been using AI generated content for social engineering and fraud schemes, alongside ‘deceptive recruitment campaigns’ – which encourage victims to accept ‘jobs’ that are fronts for human trafficking schemes.

“The integration of generative artificial intelligence by transnational criminal groups involved in cyber-enabled fraud is a complex and alarming trend observed in Southeast Asia, and one that represents a powerful force multiplier for criminal activities,” said John Wojcik, UNODC Regional Analyst.

“These developments have not only expanded the scope and efficiency of cyber-enabled fraud and cybercrime; they have also lowered the barriers to entry for criminal networks that previously lacked the technical skills to exploit more sophisticated and profitable methods.” he said.

The spread of AI-enbaled crime is a global issue, with deepfake, ransomware, and cryptocurrency scams all on the rise in recent years. Criminals around the world have been taking advantage of the new ways to exploit vulnerable people, especially using technologies few are trained to spot.

More from TechRadar Pro

Check out our pick of the best malware removalWhy deepfakes are set to be one of 2024’s biggest cyber security dangers Take a look at our pick of the best antivirus software
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This articles is written by : Nermeen Nabil Khear Abdelmalak

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