Scam losses across Asia estimated at US$136.5b in past year; experts warn of growing AI threat

Detailed summary

The Global Anti-Scam Alliance warned that governments and companies cannot tackle the growing threat alone, as criminal syndicates exploit cross-border operations and increasingly…

The Global Anti-Scam Alliance warned that governments and companies cannot tackle the growing threat alone, as criminal syndicates exploit cross-border operations and increasingly advanced technology to evade detection.

BANGKOK: Scammers are increasingly using artificial intelligence to automate fraud and target victims on a massive scale, prompting calls for stronger international cooperation as estimated losses from scams across Asia reach US$136.5 billion over the past year.

The Global Anti-Scam Alliance (GASA) warned that governments and technology companies cannot tackle the growing threat alone, as criminal syndicates exploit cross-border operations and increasingly sophisticated technology to evade detection.

“Countries cannot fight this alone. Big tech companies cannot fight this alone. Scammers always work across borders (so) their chances of getting caught are near zero,” said the alliance’s managing director Jorij Abraham.

“Law enforcement … Interpol and Europol, while they're doing great work, are limited.”

Abraham also cautioned that crackdowns on large scam compounds in countries such as Cambodia have dispersed criminal operations rather than eliminated them.

He said scam operations have since emerged in the Middle East, Mexico and Eastern Europe, with syndicates increasingly operating in smaller groups out of hotels and rented properties instead of large compounds.

His warning comes after a GASA report released last month found that 71 per cent of adults surveyed across 13 Asian markets had encountered a scam in the past 12 months.

Based in The Hague, Netherlands, the non-profit brings together public and private sector stakeholders to combat scams and fraud.

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