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Chinese-run ‘scam universities’ across Southeast Asia are training enslaved workers how to fleece Australians out of their life savings. Inside their walls, a modern horror story is unfolding.
Globally, organised cyber scamming is now said to represent the world’s third-largest economy behind the US and China, with Interpol estimating annual earnings of up to $US3 trillion ($4.5 trillion) a year.
Australians reported $2.74bn in losses to cyber fraud in 2023, more than $200m of that to romance scams, according to the Australian Consumer & Competition Commission’s latest Targeting Scams report – though fewer than 40 per cent of victims worldwide will report the crime.
The UN Office of Drugs and Crime (UNODC) says pig butchering run from compounds on Australia’s doorstep may already be generating more revenue than the regional drug trade.
Here, the Australian went behind the scenes and spoke to a rescued scam worker.
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