Cyber crime syndicates raked in as much as $37 billion last year and are intensifying operations across Southeast Asia despite mounting law enforcement efforts, the United Nations said.

Powerful criminal networks in Southeast Asia extensively use the messaging app Telegram which has enabled a fundamental change in the way organised crime can conduct large-scale illicit activity, the United Nations said in a report on Monday.

The United Nations warns that criminal gangs in Southeast Asia are using Telegram to sell your data, buy malware, or obtain deepfake software.

Asian stocks rallied and the dollar reached a fresh seven-week peak on the yen on Monday after blowout U.S. labour market data dispelled fears of a recession and spurred a sharp paring of rate-cut bets.

TOKYO >> Asian stocks rallied and the dollar reached a fresh seven-week peak on the yen on Monday after blowout U.S. labor market data dispelled fears of a recession and spurred a sharp paring of rate-cut bets.

Asian equity markets saw a strong rally on Monday, with Japan’s Nikkei 225 (.N225) leading the charge, rising 2%, as robust US labor market data boosted investor sentiment and pared back expectations of significant rate cuts by the Federal Reserve.