Interpol Identifies Crypto Fraud as Major Transnational Crime Threat

According to PANews, Interpol has passed a resolution at its General Assembly in Marrakech, recognizing crypto-related fraud as a central component of a vast scam industry and categorizing it as a transnational crime threat. Global law enforcement agencies are intensifying coordination to manage the flow of funds within these networks. These criminal organizations employ methods such as human trafficking, cyber scams, and forced labor, affecting victims from over sixty countries. Criminals often lure victims with promises of high-paying overseas jobs, only to trap them in illegal operations involving voice phishing, romance scams, investment fraud, and cryptocurrency scams. Scam groups recruit victims through fake job offers, transporting them to illegal sites where they are coerced into criminal activities. They utilize advanced technology to deceive victims and conceal their operations, with these cross-border crime networks showing high adaptability. Initially drawing international attention in Southeast Asia, the scam center model has now spread to parts of Russia, Colombia, East African coastal nations, and regions in the United Kingdom. In May, the U.S. Treasury severed financial ties with Cambodia's Hui Wang Group, accusing it of laundering $4 billion for scams. This month, the U.S. Department of Justice has formed a special task force in collaboration with multiple agencies. Interpol's resolution marks a new phase in global law enforcement collaboration.