The United Nations agency recommends criminal convictions for unlicensed virtual asset service providers in Southeast Asia to combat cyber fraud

ChainCatcher news, according to CoinDesk, the United Nations Office on Drugs and Crime has called on Southeast Asian countries to classify unlicensed currency service businesses or virtual asset service providers (VASP) as criminal offenses. The agency stated in a report released on Monday that some VASPs (including those linked to known criminals) are facilitating transactions for fraud organizations and high-risk gambling websites.

The report mentioned that an unnamed entity conducted "at least hundreds of millions of dollars" in transactions with criminal organizations. This includes groups associated with or directly involved in large-scale drug trafficking, human trafficking, cybercrime, and child sexual abuse materials, as well as entities sanctioned by the U.S. Office of Foreign Assets Control (OFAC) and wallets linked to North Korea's Lazarus Group.

Masood Karimi-Pour, the regional representative of the Office on Drugs and Crime, stated in a declaration: "Governments need to recognize more than ever the seriousness, scale, and impact of this genuine global threat, and prioritize solutions to address the rapidly evolving criminal ecosystem in the region."