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International Business Times
International Business Times
World
Marvie Basilan

Technological Shift Among Southeast Asian Organized Crime Groups 'Revolutionized' Crypto Laundering: UN

Crypto SouthEast Asia East Asia UNODC Jeremy Douglas Mekong
Organized crime groups in Southeast Asia have adapted a tech-centric criminal landscape through online gambling and the rise of cryptocurrency, a new UNODC report revealed. (Credit: Bybit/flickr.com)

KEY POINTS

  • UNODC says online casinos proved to efficiently allow crypto laundering
  • There were "several instances" of sharing money laundering networks with North Korean hackers
  • Region has to address issue to avoid reinvestment and innovation among organized crime groups

The adoption of technology among transnational organized crime groups that operate online casinos and crypto-related activities in Southeast Asia has "revolutionized the crime environment in the region," a new United Nations Office on Drugs and Crime (UNODC) report revealed.

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