The Financial Action Task Force traced more than $100 million taken from victims to a single cluster of virtual wallets linked to one scam compound. FATF estimates that these integrated criminal enterprises cause tens of billions of dollars in annual losses worldwide, with victims spread across more than 100 jurisdictions. Such networks rely heavily on virtual assets to launder stolen funds and are expanding internal over-the-counter desks to convert money without using regulated platforms. The report, published on November 5, 2026, also reveals that some operations in Southeast Asia use human trafficking to staff their fraud operations, with approximately 120,000 people reportedly forced to work for scam compounds in Myanmar. FATF is calling for rapid cross-border action, improved information-sharing and victim-centered approaches.
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