CNN —Human trafficking-fueled fraud is exploding in Southeast Asia with organized crime rings raking in close to $3 trillion in illicit revenue annually, the head of Interpol has said in comments that reveal the huge profits being earned by cartels.
One international organized crime group makes $50 billion a year, according to Interpol secretary-general Jurgen Stock, adding that $2 trillion to $3 trillion of illicit money flows through the global financial system annually.
While drug trafficking contributes around 40% to 70% of organized crime income, criminal groups are also using those smuggling networks to illegally move humans, arms and stolen products among other things, Stock said.
Criminal enterprises also exist in Laos, Thailand and the Philippines, with many of the lucrative online scam operations ranging from illegal gambling, to love scams and crypto fraud.
Beijing has pressed Myanmar’s military government to rein in the scam operations, but with limited success.
Persons:
Jurgen Stock, Stock, ” Stock, Human Rights Volker Turk
Organizations:
CNN, Interpol, International Monetary Fund, Covid, ”, “, United Nations, UN, Human Rights, Philippine News Agency
Locations:
Southeast Asia, Singapore, Asia, United States, Myanmar, Cambodia, Laos, Thailand, Philippines, China –, Beijing, China, Manila, what’s, Malaysia, Vietnam, Hong Kong