Paris, Feb. 25 -- The Financial Action Task Force (FATF) has published a major new paper that highlights the growing threat of cyber-enabled fraud and its increasing intersections with money laundering (ML), terrorist financing (TF), and proliferation financing (PF), urging countries to bolster global standards and cooperation to counter the evolving digital crime landscape.

According to the FATF's latest publication, Cyber-Enabled Fraud -- Digitalisation and Money Laundering, Terrorist Financing and Proliferation Financing Risks, fraud has become "one of the most widespread and damaging profit-motivated forms of crime, generating large volumes of illicit proceeds through the exploitation of victims around the world."

The report notes t...