The Financial Action Task Force (FATF) has released a report on the activities of global fraud networks. Criminals misappropriate tens of billions of dollars annually by utilizing artificial intelligence, social media, and cryptocurrencies. This was reported by Minfin citing FATF, according to the portal PromPolitInform.
The report emphasizes that fraud centers operate like sprawling international corporations, where duties are distributed among organizers, recruiters, and financial intermediaries. The scale of the problem is particularly visible in Southeast Asian countries, where in Myanmar alone, approximately 120,000 people are forcibly involved in such centers, often becoming victims of human trafficking themselves.
Modern criminal groups actively exploit the capabilities of artificial intelligence to automate deception and create deepfakes, making fraud scenarios more convincing to thousands of potential victims simultaneously. The use of digital platforms allows criminals to quickly find new perpetrators and hide their activity trails by constantly changing locations — from office spaces to private apartments.
The speed of criminal capital movement
A key factor in the success of criminal networks is the speed of fund withdrawal. According to FATF research, stolen money can leave the financial system in just two minutes, while victims usually realize they have been defrauded only after 20 hours. To legalize assets, criminals use over-the-counter crypto exchanges, accounts of shell persons, and informal payment systems.
The relevance of the problem is also confirmed by NABU investigations concerning corruption schemes in the energy sector and the operation of large-scale call center networks. Specifically, in the ‘Midas’ operation case, investigators uncovered the movement of over 111 million dollars and 12 million euros in cash, for which cryptocurrency instruments and investment funds were used for money laundering.
Strategies for combating criminal networks
The FATF insists on a shift in the approach to fighting cybercrime, urging states to focus not only on protecting individual victims but on the total dismantling of criminal infrastructure. The organization highlights the importance of interagency cooperation between banks, law enforcement, and telecommunications operators to timely detect suspicious digital footprints.
A priority for law enforcement agencies should be blocking transactions within the critical window of 24 to 72 hours after the fraud occurs. By February 2027, the organization plans to continue active work with the public and private sectors to implement effective mechanisms for the recovery of illegally obtained assets across various jurisdictions.
Photo: Minfin
