Investigators describe the case as one of the most complex financial crime probes they have handled, with about 95% of the work taking place behind desks rather than on the streets. At the centre of the operation was an elaborate scheme to move money stolen from victims in foreign countries.

Instead of transferring funds directly back to South Africa, investigators say the scammers routed transactions through hundreds, possibly thousands, of bank accounts across multiple jurisdictions.

The money would circulate through a web of accounts and front companies overseas, making it harder for authorities to trace its origins. Only after being filtered through this system would the funds return to South Africa, appearing “clean” and disconnected from the original crime.

Professional networks and front companies

Analysts spent years mapping company ownership, tracking banking flows and identifying connections between suspected scammers and professional intermediaries. Investigators looked at links involving accountants, lawyers, property purchases, luxury vehicles and international travel patterns, all used to disguise the profits of fraud.

The laundering process, sources say, relied heavily on legitimate-looking structures that helped integrate criminal proceeds into the formal economy .

Infiltrating the scam call centres

The case also involved covert intelligence operations. Operatives were deployed to infiltrate call centres allegedly used to run scams targeting people abroad. Once inside, investigators tracked individual agents, their movement through the organisation and their sudden lifestyle upgrades.

“Call centre agents would start with a medium-range saloon,” one source said. “Soon, an expensive SUV followed and top-tier swindlers were buying supercars worth millions.”

Authorities say the luxury spending was often accompanied by high-end property portfolios, champagne lifestyles and lavish displays of wealth. Investigators say the raids were only the final step in an extensive process that combined forensic accounting, cyber analysis and intelligence work over the years.

Instead of smuggling goods or running street operations, investigators say these networks depend on digital fraud, global banking loopholes and professional laundering systems.

Thai police believe the centre was established after recent joint operations tightened the net around known scam hubs closer to Thailand.

According to Pol. Lt. Gen. Jirabhob Bhuridej, deputy commissioner of Thailand’s Anti-Cyber Scam Centre (ACSC) and assistant national police chief, the site lies around 50 kilometres from Poipet, a border township opposite Thailand’s Sa Kaeo province.

Poipet has long been linked to illicit online operations targeting victims across the region and beyond.

The newly discovered centre is still partially under construction and comprises several two-storey buildings with clearly separated workspaces and living quarters.

Inside the compound, investigators believe there are workers of multiple nationalities, including Thais, Indians and Indonesians, many of whom may have been trafficked or coerced into scam work.

Supervisory roles, however, are thought to be dominated by Chinese nationals.

Between December 28 and January 3 alone, Thai police recorded 6,369 scam-related cases, according to figures released by the ACSC. Authorities warn that these numbers likely represent only a fraction of the true impact.

This latest case of scam centres comes against the backdrop of heightened tension between Thailand and Cambodia over border management and law enforcement cooperation.

Analysts say the row has complicated efforts to pursue suspects across jurisdictions. Thai officials argue that criminal groups are exploiting these frictions to evade arrest and rebuild their operations.

“The situation shows that scam operations are becoming more severe and complex, and no country should be a safe haven for them,” Jirabhob said.

In February alone, hackers drained around $1.5 billion from the exchange Bybit, accounting for nearly half of all funds stolen this year. This incident highlighted how one breach can now dominate the industry’s annual losses.

Behind much of the damage sits North Korea. Despite carrying out fewer confirmed attacks, hackers linked to the Democratic People ’s Republic of Korea stole at least $2.02 billion in 2025 — a 51% jump from the year before and the highest annual total ever recorded.

North Korean groups were responsible for about 76% of all major service compromises this year. Overall, estimates suggest the country has now stolen at least $6.75 billion in cryptocurrency over time.

Investigators say Pyongyang’s success increasingly relies on deception. Operatives infiltrate crypto firms by posing as IT workers, recruiters, or even investors, using fake job offers and business meetings to gain access. 

Evolving method

While eye-catching exchange hacks grab headlines, the pattern of theft is shifting. Attacks on individual users’ personal wallets have risen sharply in recent years, reflecting how everyday investors are increasingly being targeted alongside large firms.

At the same time, centralised crypto services continue to suffer devastating blows. Even with professional security teams, exchanges and custodians remain vulnerable when private keys are compromised. These incidents are rare, but when they happen the losses are enormous.

As a result, crypto crime is becoming more extreme. In 2025, the three biggest hacks alone made up 69% of all losses suffered by services. The gap between a “typical” theft and the largest attacks has never been wider.

This year marked a grim milestone. For the first time, the biggest single hack was more than 1,000 times larger than the median theft, surpassing even the peaks seen during the 2021 crypto boom.

The Ministry of Home Affairs stated that the measures are intended to ensure that criminal laws remain “effective, fair and responsive” as fraud becomes one of Singapore’s most significant public safety threats.

People who knowingly allow their bank accounts or personal details to be used to launder scam proceeds may also face caning of up to 12 strokes, alongside jail terms and fines. Judges will also have the discretion to impose caning for other forms of fraud.

Scams now account for about 60% of all reported crime in Singapore, according to government figures. Between 2020 and the first half of 2025, nearly 190,000 scam cases were reported, with losses estimated at 3.7 billion Singapore dollars (about US$2.8 billion).

Officials say common scams include phishing, fake job offers, online shopping fraud, investment schemes and impersonation scams.

Judicial caning , a form of corporal punishment carried out with a rattan cane, is already used in Singapore for serious crimes such as robbery and sexual offences. It applies to male offenders under the age of 50 and is imposed in addition to prison sentences.

Many of the provinces carry names rooted in Indigenous languages such as Quechua, Mapuche, and Guaraní. Others have Spanish colonial or religious origins.

For example:

Even more interesting translations, such as “Very Pronounced Point Between Two Rivers” (Chaco) or “Prickly Plant Fruit” (Tucumán), come from Indigenous terms describing local landscapes, flora, or cultural practices.

Across the region, the most vulnerable roles were in administration, office support, sales, healthcare, manufacturing, and logistics, according to a study conducted by SEEK, the parent company of Jobstreet and Jobsdb

These jobs typically attract a large number of applicants, making it easier for scammers to target potential victims.

Entry-level roles with immediate employment promises create a wide pool of potential victims, said Tom Rhind, SEEK’s head of trust and safety. 

Rhind noted that scammers can use these positions to craft convincing offers that appear legitimate.”

Fraudsters are exploiting popular communication channels like Viber, SMS, and social media , often impersonating recruiters or even platforms like SEEK and Jobstreet.

Experts also warn that scammers are increasingly using AI tools to generate fake job ads and recruiter profiles, making fraud harder to detect.

The findings underscore a growing risk for job seekers across Asia-Pacific, a fast-moving digital job market, where even experienced candidates may fall prey to sophisticated scams.