A report from the United Nations Office on Drugs and Crime (UNODC) sheds light on the growing role of casinos, junkets, and cryptocurrencies in underground banking and money laundering across East and Southeast Asia. The report identifies Tether (USDT) as the most used cryptocurrency for money laundering related to illicit activities. It details the rise of illegal online casinos, e-junkets, and crypto exchanges, highlighting the use of USDT to route money through various accounts. The report reveals that USDT transactions related to illicit activities predominantly occur on the Tron blockchain. Law enforcement and financial authorities in the region have reported a surge in cyberfraud and money laundering cases involving USDT. (Source: UN Reports)
