Cybercrime surges above $120-bn in Southeast Asia

THE RAPID growth of Bitcoin-related scams and other cybercrimes has prompted the United Nations to urge member countries, including Thailand, to step up their legal safeguards against potential economic losses. Cybercrime-related losses worldwide top US$600 billion (Bt19.6 trillion), said Julien Garsany, deputy regional representative of the UN Office on Drugs and Crime (UNODC).

Garsany told a Bangkok seminar on cryptocurrency and cybercrime that the cost of economic and other damage to Asean countries alone ranges between $120 million and $200 million, making it essential for law-enforcement and justice officials in various countries to work together to tackle the issue.

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