UN Agency Recommends Criminalization of Unlicensed VASPs in Southeast Asia to Counter Cyber Fraud

While not all the scams run out of the region involve crypto, it is a popular payment choice with scammers “due to the ease with which rapid cross border transactions can take place, widespread misinformation and low levels of understanding about how cryptocurrency functions, and, in some cases, the breakdown of cross-border law enforcement cooperation, investigation, case intake, and asset recovery,” the report said.

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