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US Imposes Sanctions on Southeast Asian Fraud Rings Over $10B in Scam Losses
US Imposes Sanctions on Southeast Asian Fraud Rings Over $10B in Scam Losses
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BTCCSquare news:
The U.S. Treasury has sanctioned 19 entities across Myanmar, Cambodia, and China linked to cyber fraud operations allegedly responsible for over $10 billion in losses from Americans in 2024. The networks, some operating under the protection of Myanmar's Karen National Army, employed forced labor and violence to coerce victims into participating in online scams.
"Cyber fraud in Southeast Asia not only threatens the financial security of Americans but has created a modern slavery crisis," said Treasury Under Secretary Anthony Hurley. The administration is deploying financial tools to dismantle these operations, which have lured job seekers into debt bondage and exploitative conditions.
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