A new report from the U.S.-China Economic and Security Review Commission reveals that while China is aggressively prosecuting fraud targeting its own citizens, it continues to turn a blind eye to industrial-scale scam centers victimizing Americans. This selective enforcement has incentivized Chinese criminal syndicates to pivot toward U.S. targets, resulting in over $10 billion in losses in 2024 through “pig-butchering” and crypto investment schemes. As attackers integrate AI to scale these operations and exploit cryptocurrency for money laundering, experts warn that organizations must treat social engineering as a structural infrastructure threat rather than a simple training issue, as diplomatic solutions remain unlikely in the current geopolitical climate
First seen on securityboulevard.com
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