"Southeast Asia's cyber scam industry not only threatens the well-being and financial security of Americans, but also subjects thousands of people to modern slavery, undersecretary of the Treasury for Terrorism and Financial Intelligence John K Hurley said in a statement, adding that Americans last year lost more than $10bn from scam operations originating in the region. The department said it had issued sanctions against Tin Win, Saw Min Min Oo and Chit Linn Myaing Co for acting"
"In Cambodia, the department sanctioned Dong Lecheng, Xu Aimin, Chen Al Len and Su Liangsheng, along with six companies they are tied to, for their role in turning a number of hotels, office blocks and casinos into scam compounds. Myanmar and Cambodia have become a cyberscam epicentre in recent years. Run by criminal networks that often have links to Chinese organised crime, the scam operations bilk victims across the globe out of billions of dollars annually."
The United States sanctioned nearly 20 companies and individuals in Myanmar and Cambodia for involvement in a multibillion-dollar cyber scam industry that exploits trafficked victims. The Treasury Department targeted nine entities linked to Shwe Kokko and ten linked to Cambodian scam compounds, naming individuals such as Tin Win, Saw Min Min Oo, She Zhijiang, Dong Lecheng and others. Sanctions under the Magnitsky Act block US entry and financial access for designated parties. Pig-butchering schemes develop virtual relationships to coerce victims into fake investments, and many operators are themselves trafficked or lured into forced roles. Americans lost over $10 billion to scams originating in the region.
Read at www.aljazeera.com
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