The United Nations Office on Drugs and Crime (UNODC) warns that the organized crime unions are gaining more and more to take advantage of cryptocurrency and blockchain technology to feed their operations.
According to a new UNODC report, gangs in Southeast Asia create tailor-made financial ecosystems, including exchanges and stable-coxins without license, to escape detection and to whiten illicit money.
“… Many of the largest criminal groups in the region that have extended to Southeast Asia and an increasing number of jurisdictions in other parts of the world have quickly diversified their sectors of activity towards the development of key infrastructure.
This has extended far beyond the construction and management of physical scam centers to include online game platforms and software services, license-free payment processors and cryptocurrency exchanges, encrypted communication platforms and, more recently, stablescoins, four blockchain networks and online illicit markets, often controlled by the same criminal networks.“”
The UN also provides for international cooperation and stronger regulatory executives to fight and stem the growth of these groups.
“The subtle and continuous overflowing in other regions has enabled Asian crime unions to expand the scope of their operations and target an increasingly diverse range of profiles and nationalities of victims around the world.
More than that, this has enabled them to considerably expand profits and influence while simultaneously generating billions of illicit capital reserves (Fiat and cryptocurrency) which can be reinvested in additional expansion and also used to meet the money laundering of other criminal groups on a global scale. »»
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Star image: Shutterstock / Vladimir Sazonov / Ociaci
