Tag: southeast asia
$1bn Korean bust is tip of SE Asian cybercrime iceberg
Authorities in Korea and Beijing dismantled a sprawling voice phishing syndicate responsible for financial losses totaling US$ 1.1 billion. But South-East Asian observers believe this to be only the tip of an impenetrable iceberg of cybercrime in South-East Asia that is rapidly starting spread around the globe. The Korean bust was part of an Interpol-co-ordinated global operation involving law enforcement from 40 countries, territories, and regions and has ended with the arrest of over 5,500 financial crime suspects and the seizure of more than US$400 million in virtual assets and government-backed currencies.
SE Asian cybercriminals adopt drug-cartel tactics
A police raid on a Philippines online organization highlights not only the ongoing digital crime boom in Southeast Asia but also the increasingly blurred line between cybercrime and ordinary gangsters. Police raided the premises of the Tarlac Pogo firm following a complaint filed by a Vietnamese worker who bore signs of having been recently tortured in the form of electrocution scars. The police discovered 875 people, including 504 foreigners, who had been lured to work for what purported to be an online gaming company, but was actually a forced labour camp operating romance scams.