When someone sees a social media message or an investment ad promising huge and fast returns, many know they are looking at a scam. However, the problem is far bigger than just a few fraudsters working from home. There are massive, international organizations based primarily in Southeast Asia, and they are becoming a huge threat to the people in the United States and the  United Kingdom. 

The most shocking part of the criminal network is that the scams aren’t run by those who are willing, but most are run by the victims themselves. These Transnational Criminal Organizations (TCOs) often operate out of large, prison-like “scam compounds” in countries like Cambodia and Myanmar. Victims are typically lured by fake job ads for what they think is legitimate tech work. These are people who have a unique skill set that is in low demand due to an increase in the abilities of AI, and, as a result, are desperate for a job. Once the workers arrive, they are held by armed personnel and forced to carry out online fraud under threat of torture or violence. 

The most common scheme run is called “pig butchering,” where criminals cultivate elaborate online relationships with victims for weeks or months before they convince them to invest all their savings in fake crypto platforms. The United States Department of the Treasury estimated that Americans lost at least $10 billion to Southeast Asia-based scam operations in 2024, marking a huge 66%  increase over the prior year. 

Because these operations have grown so large, they are now considered a serious threat to global financial stability. The U.S. and the U.K. launched the “largest coordinated action ever” against these networks, specifically targeting entities like the Prince Group TCO in Cambodia. 

The goal is to sever the criminals’ access to the global financial system. As part of this crackdown, the U.K. froze a £12$ million mansion in North London and other assets, aiming to stop the organizations from hiding their illegal cash in legitimate Western markets. 

However, many experts infer that the problem is widespread, spreading, and constantly changing locations. Ultimately, while sanctions hurt the organizations, the threat won’t truly end until the global community addresses the human trafficking that is fueling the scams.