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$10 Billion Stolen: US Cracks Down on Myanmar, Cambodia, and China Fraud Rings
$10 Billion Stolen: US Cracks Down on Myanmar, Cambodia, and China Fraud Rings
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BTCCSquare news:
The US Treasury has imposed sanctions on a network of scam centers across Southeast Asia, targeting entities in Myanmar, Cambodia, and China. These operations allegedly stole over $10 billion from Americans in 2024, exploiting forced labor and violence.
Anthony Hurley, Under Secretary for Terrorism and Financial Intelligence, emphasized the dual threat of cyber fraud and modern slavery. The sanctioned Burmese entities are linked to the Karen National Army (KNA), already under US sanctions.
The crackdown highlights growing institutional efforts to combat financial crimes with global reach. While cryptocurrencies aren't directly implicated, such enforcement actions underscore the need for secure digital asset frameworks.
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