This report delves into illicit financing stemming from fraud perpetrated in the cyber environment, particularly focusing on instances involving transnational criminal activity and deceptive social engineering techniques. Referred to as cyber-enabled fraud (CEF), it encompasses various criminal activities such as Business Email Compromise (BEC) fraud, phishing fraud, social media and telecommunication impersonation fraud, online trading/trading platform fraud, online romance fraud, and employment scams. However, it excludes illicit financing related to ransomware and other malware-enabled crimes. The report aims to enhance competent authorities' understanding of the risks associated with CEF by analyzing the current operating risk environment, trends, and techniques used by criminals. Additionally, it identifies good practices and operational solutions employed by jurisdictions to combat CEF and related money laundering, emphasizing mechanisms for international cooperation and asset recovery.