According to the report released at the Global Anti Fraud Summit todayJoint StatementClose cooperation between the government and the private sector is crucial in addressing the increasingly serious global fraud threat.

        On March 16-17, with the support of Canada, Singapore, and the United Kingdom, as well as the Global Anti Fraud Alliance (GASA), Amazon Chainalysis、Meta、 Santander Bank and private sector partners including Tiktok have jointly convened a unique platform to find practical solutions and develop a way forward for combating fraud.

        The only effective way to combat fraud is to establish a truly global and coordinated response system. John Brandolino, Acting Executive Director of the United Nations Office on Drugs and Crime, stated that the summit provides a unique platform to bring together governments, private sectors, technology companies, banks, and law enforcement agencies under one roof to better understand threats, explore cooperation opportunities, and build stronger networks.

        Fraud has become one of the fastest-growing criminal threats globally, affecting almost all communities and millions of individuals. Driven by rapid technological advancements, it has developed into a complex and highly organized global enterprise.

        Fraud has become one of the most representative criminal threats of our time. It often begins quietly - with a text message, a phone call, or seemingly legitimate investment opportunities. But behind these conspiracies are organized criminal networks that traffic in people, launder billions of dollars in illegal profits, and destroy global lives. We should be clear about what this is. Fraud is not just a financial crime. It is a global security crisis. InterpolSecretary-GeneralWalderse Urquisa said, "To deal with it, countries must cooperate urgently, firmly, and resolutely

        Within two days, over 1300 participants gathered in Vienna, Austria, including government officials, law enforcement agencies, private sector leaders, technology companies, and civil society organizations, to discuss how to collaborate and disrupt the systems that foster fraud.

        Information and communication technology plays an important role in modern fraud. Tools such as generative artificial intelligence, including deepfake videos, images, audio, and chatbots, make it easier for criminals to impersonate trusted individuals and deceive victims.

        With today's technology, everyone is a potential target, and no goal is out of reach. Digital tools have reshaped the fraud landscape in critical areas, and we need to quickly increase our efforts and take action to counterattack, "said Brandolino.

        According to GASA, the estimated losses caused by organized fraud and scams amount to $442 billion, highlighting the scale and urgency of the threat.

        During the event, 44 countries and participants pledged to take concrete actions to combat fraud. The signatories will implement their commitments and report progress to support the advancement of the initiative.

        Two new United Nations Office on Drugs and Crime resources aimed at helping governments and businesses collaborate more effectively to prevent and combat fraud were also showcased at the summit.