INTERPOL Financial Fraud Report: The Global Threat Expands Boosted By Technology

Organized Crime Groups using more Human Trafficking Victims to carry out Crypto-Investment (‘pig-butchering’) and other Scams

Authors:
•  SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
•  INTERPOL

About This Article

The recent INTERPOL assessment on global financial fraud underscores the growing threat posed by technology-enabled organized crime groups targeting victims worldwide.

Utilizing tools like Artificial Intelligence (AI), large language models, and cryptocurrencies, these groups orchestrate sophisticated fraud campaigns with minimal technical skills and at low costs. Secretary General Jürgen Stock warns of the epidemic scale of financial fraud, emphasizing the need for urgent action and enhanced information sharing.

The report reveals prevalent fraud trends such as investment fraud and romance fraud, necessitating multi-stakeholder partnerships to develop effective counter strategies. With financial fraud increasingly perpetrated by transnational networks, law enforcement faces the challenge of strengthening data collection and analysis to combat this escalating crime.

Regional trends highlight the pervasive nature of financial fraud, from Africa to the Americas, Asia, and Europe, necessitating a coordinated global response to safeguard individuals, businesses, and governments against this evolving threat.

A new INTERPOL assessment on global financial fraud highlights how the increased use of technology is enabling organized crime groups to better target victims around the world

The Interpol report and assessment show that the use of Artificial Intelligence (AI), large language models, and cryptocurrencies combined with phishing- and ransomware-as-a-service business models have resulted in more sophisticated and Read More …