ONLINE scam operations have evolved into global criminal enterprises capable of inflicting billions of dollars in losses, with Southeast Asia emerging as a key base for networks targeting victims around the world, Interpol has warned.
Interpol Director of Taskforce Coordination Directorate Nicholas Court said millions of dollars were being lost to fraud every day, with Asian businesses and individuals among those increasingly targeted.
“What we see is a lot of different types of investment fraud, especially involving cryptocurrencies that is becoming more prevalent. Romance fraud has existed for decades but is becoming worse because of the use of social media and dating apps and people using the internet to find love and romance,” Court told Bernama.
He was speaking on the sidelines of the International Conference on Combating Online Scams, held in Phnom Penh from Sept 23 to 24.
Interpol’s second Global Financial Fraud Threat Assessment, released in March, estimated that financial fraud caused worldwide losses of about US$442 billion (RM1.8 trillion) last year.
Court said what began as regional scam operations had evolved into global criminal networks, with centres established across multiple regions and thousands of people recruited to carry out online fraud.
Well-funded criminal organisations have been using countries including Cambodia, Laos and Myanmar to launch operations against vulnerable victims worldwide.
“Every day, losses could be hundreds of thousands or even millions of euros at any point, and Asian businesses are definitely victims.
“So, it's a really significant threat. A lot of countries see it as a national security threat even now because the amount of money that is leaving economies and countries and going into the pockets of criminals is vast.
“People are committing suicide somewhere in the world every day as a result of being the victim of fraud, and businesses are closing down all the time,” he said.
Interpol’s Operation Haechi, conducted from April to August last year, uncovered US$342 million (RM1.4 billion) in illicit funds and blocked 68,000 bank accounts across 40 countries.
The operation targeted cyber-enabled financial crimes including voice phishing, romance scams, online sextortion, investment fraud, money laundering linked to illegal online gambling, business email compromise and e-commerce fraud.
Romance fraud involves scammers establishing fake relationships with victims through social media, dating apps or messaging platforms before extracting money by fabricating emergencies or financial difficulties. - September 27, 2026
