Organized crime networks generating billions of dollars annually through scams continue to exploit fragmented financial oversight, according to MEXC Chief Operating Officer Tracy Jin.
"The scam industry has become industrialized: hundreds of compounds in Southeast Asia, forced labor, and now exported to Latin America and Africa," Jin said.
She pointed to three systemic gaps enabling the scale of these operations, fragmented oversight between jurisdictions, rapid onboarding to digital payments and crypto without harmonized standards, and professionalized use of AI and deepfakes.
UN estimates put scam revenues at nearly $40 billion a year.
Against that backdrop, MEXC said its compliance officers recently completed joint training with law enforcement and regulators across Southeast Asia, the CIS, and Latin America.
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The program averaged 160 hours of workshops and simulator drills focused on emerging threats such as forged documents, deepfake-based KYC submissions, and identity theft.
The exchange reported that in July and August alone its team intercepted 48 suspicious cases, withholding $4.9 million in assets linked to illicit activity.
It also logged a 15% increase in fraudulent liveness attempts during KYC checks, with more than 3,000 cases detected.
Jin argued that without faster, coordinated responses across borders, organized crime groups will continue to exploit regulatory delays.
"Proactive coordination between regulators, exchanges, and law enforcement is essential to shorten response times and shut down criminal flows," she said.
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