Asia-Pacific cyberscam victims lost up to US$114 billion last year: UN

A United Nations report indicates that victims of transnational online scams in the Asia-Pacific region, including East Asia, Southeast Asia, Australia, and New Zealand, lost up to US$114.1 billion last year. This represents at least a threefold increase in estimated losses compared to 2023. Southeast Asia, particularly Cambodia and Myanmar, has become a central location for criminal syndicates operating fake romance and cryptocurrency investment schemes. These syndicates defraud internet users globally, often from fortified compounds, with scammers who may be willing participants or victims of trafficking. In response to pressure from countries like the United States, Britain, and China, regional authorities have stated they are intensifying efforts to combat this illicit industry.