Published with permission from the World Economic Forum website at https://www.weforum.org.
SOUTHEAST Asia is the world's fastest-growing internet market, with a digital economy poised to hit $600 billion in gross merchandise value by 2030. How ever, the rapid growth of digitalization has also led to a steep increase in cybercrime in the region — up by 82 percent from 2021 to 2022 — highlighting the urgent need for tackling cyberattacks on the underbanked population, who are particularly vulnerable due to low digital literacy and reliance on informal financial services.
Myanmar's ongoing conflict prevents meaningful efforts to manage cybercrime; militias along its border have set up massive criminal operations associated with online scams and cyber slavery.Grassroots efforts, such as financial literacy initiatives and community programs, are vital in tackling cyberattacks on the underbanked, as they help educate vulnerable populations on identifying scams and safeguarding their personal information.
Southeast Asia Deals With Digital Scams
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