A recent report from the United Nations has shed light on the alarming trend of criminal networks in Southeast Asia turning to the messaging app Telegram to carry out illicit activities such as trading hacked data and laundering money through unlicensed cryptocurrency exchanges. The UN Office for Drugs and Crime has found that organized crime syndicates are taking advantage of Telegram’s loose moderation and encrypted messaging features to conduct large-scale illegal operations.
According to the report, criminals are using Telegram to trade sensitive information like credit card details and passwords, as well as purchasing tools such as malware to steal funds through the app. Additionally, unlicensed crypto exchanges advertised on Telegram are offering services that enable money laundering for criminal organizations.
The focus of the report is on Southeast Asia, where Chinese crime syndicates are operating billion-dollar fraud schemes that generate between $27.4 billion and $36.5 billion annually. One example cited in the report is a group advertising that it can move $3 million worth of stolen Tether (USDT) per day. Recently, Vietnamese police dismantled an international crypto fraud network operating from Laos’ Golden Triangle Special Economic Zone, arresting five suspects who swindled over 17.6 billion VND through fake romantic relationships and fraudulent investments on a platform called “Biconomynft.”
Telegram, with close to 1 billion users, has come under scrutiny due to its founder, Pavel Durov, being arrested in Paris in August on charges of allowing the platform to facilitate criminal activities, including the distribution of child sexual images. This has sparked debates about messaging platforms’ responsibility to prevent criminal activity while respecting users’ privacy rights.
For those unfamiliar with cryptocurrency, platforms like Telegram play a crucial role in enabling encrypted communication but can also be misused by criminals to move funds quickly and anonymously, making it challenging for authorities to track the flow of illegal money. In response to concerns over the misuse of its platform, Durov announced updates to Telegram’s moderation policies, stating that the app may disclose the IP addresses and phone numbers of rule violators to authorities following valid legal requests.
As the use of Telegram for illicit activities continues to rise, it is clear that more stringent measures need to be put in place to combat cybercrime and money laundering on the platform. The UN report serves as a stark reminder of the challenges posed by the digital age and the need for international cooperation to address these issues effectively.