FBI Reports $4 Billion Stolen by Southeast Asian Online Scams in 2023, Driven by Chinese Gangs

Last year, the FBI estimates that online scams originating from Southeast Asia stole nearly $4 billion from tens of thousands of Americans, marking a 53% increase from the previous year. This massive global criminal operation is predominantly run by Chinese gangs who have constructed a multibillion-dollar scam industry using an army of scammers based in Southeast Asia. Many of these scammers are held against their will in guarded compounds and forced to con people around the world out of their life savings. CNN’s Ivan Watson investigates the devastating consequences of this practice, known as “pig-butchering,” which has led to severe financial ruin and, in some cases, suicide among the victims.