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US Sanctions 19 Myanmar and Cambodia Online Scam Entities Suspected of Cryptocurrency Investment Fraud Activities
Summary: According to reports from The Straits Times, the US Treasury Department imposed sanctions on 19 scam network entities operating in Southeast Asia, including 9 entities in Myanmar and 10 entities in Cambodia, forcing victims into cryptocurrency investment fraud activities. Last year, American citizens lost over $10 billion due to scam activities originating from Southeast Asia. ...
According to reports from The Straits Times, the US Treasury Department imposed sanctions on 19 scam network entities operating in Southeast Asia, including 9 entities in Myanmar and 10 entities in Cambodia, forcing victims into cryptocurrency investment fraud activities. Last year, American citizens lost over $10 billion due to scam activities originating from Southeast Asia. The nine Myanmar entities sanctioned are reportedly operating under the protection of the sanctioned Karen National Union. Deputy Secretary of the US Treasury Department responsible for counterterrorism and financial intelligence, Helley, stated that the scam activities in Southeast Asia not only threaten the well-being and financial security of Americans but also lead to thousands of people becoming modern-day slaves. The US Treasury Department will utilize all tools to combat organized financial crimes and protect Americans from the significant harm these scams may cause.
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Link: US Sanctions 19 Myanmar and Cambodia Online Scam Entities Suspected of Cryptocurrency Investment Fraud Activities [Copy]
