UN details global expansion of billion-dollar cyber scam networks.
Warnings have been issued about the ongoing global expansion of Southeast Asia's cyber fraud sector, following continued failures to contain such operations.
According to The Record, the operations have been fuelled by ‘one-stop-shop’ digital marketplaces providing cyber-criminal services. Despite increasing law enforcement takedowns of scam compounds in Laos, Myanmar, and the Philippines, these have not prevented the diversification of illicit activities.
Forging Collaborations
The report from the United Nations Office on Drugs and Crime (UNDOC) stated that Asian cyber-criminal gangs are already forging collaborations with drug trafficking cartels in South America, as well as establishing new scam hubs across Africa.
"That [expansion] is going to have big global implications in that not only are you going to see scam centres and those types of operations developing in these regions but it will also be jet fuel for local criminal groups who need to launder their money," said UNODC regional analyst John Wojcik.
Andrew Rose, CSO at SoSafe, said that the UN’s warning on the global expansion of billion-dollar cyber scam networks should come as no real surprise for both organisations and governments, as these attacks are no longer isolated; “they are industrialised, well-funded enterprises operating in the digital domain, where jurisdictional borders become meaningless.”
Rose said: “They are aggressively targeting individuals and organisations worldwide using sophisticated tactics, such as social engineering and emotional manipulation, to acquire vast amounts of wealth.
“Relying solely on technological defences is a losing strategy. Attackers are expertly exploiting human vulnerabilities. Organisations must cultivate understanding of the attackers' techniques, and a strong cyber security culture, across their user base - and indeed, out to their friends and family.
“Only through comprehensive training and education can these frauds start to be controlled, and we would welcome legislation that promotes this critical layer of protection across the board."
Increasingly Targeting
Jake Moore, global cybersecurity advisor at ESET, said: "Large-scale scam centres that generate huge amounts of money are increasingly targeting people in the UK through fraudulent activities such as romance scams and fake investment schemes.
"Even with efforts to minimise the impact on victims, manipulating people is at the heart of these scams where psychology continues to play an integral part in them. Fraudsters are not only able to target people in huge numbers but they are also aware that there are limited resources available across the world to combat these growing offences making them the perfect crimes."
Written by
Dan Raywood is a B2B journalist with 25 years of experience, including covering cybersecurity for the past 17 years. He has extensively covered topics from Advanced Persistent Threats and nation-state hackers to major data breaches and regulatory changes.
He has spoken at events including 44CON, Infosecurity Europe, RANT Forum, BSides Scotland, Steelcon and the National Cyber Security Show, and served as editor of SC Media UK, Infosecurity Magazine and IT Security Guru. He was also an analyst with 451 Research and a product marketing lead at Tenable.
