The U.S. Department of the Treasury has sanctioned several large cyber scam networks in Southeast Asia that defrauded Americans of more than $10 billion in 2024.
These operations, mainly based in Burma and Cambodia, are notorious for human trafficking, forced labor, and physical abuse — effectively running modern slavery compounds that fuel online fraud.
The scams range from romance baiting schemes to fake cryptocurrency investments, with reported financial damages in 2024 rising 66% compared to the previous year.
Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 19 individuals and entities, including companies linked to the Karen National Army (KNA) in Burma and organized crime groups in Cambodia. Among those sanctioned are She Zhijiang, the mastermind behind the Yatai New City scam compound, and several casino and real estate firms tied to money laundering and online fraud.
Under the sanctions, all targeted entities are blocked from the U.S. financial system, prohibited from transactions with Americans, and will have any U.S.-based assets frozen. The move is expected to isolate these networks from international banks and business partners, making it harder for them to operate.
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