Treasury Sanctions Southeast Asian Networks Targeting Americans with Cyber Scams

Southeast Asia-based scams skyrocket, costing Americans over $10 billion last yearWASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) implemented sanctions against large network of scam centers across Southeast Asia that steal billions of dollars from Americans using forced labor and violence. The action includes nine targets operating in Shwe Kokko, Burma, a notorious hub for virtual currency investment scams under the protection of the OFAC-designated Karen National Army (KNA), as well as ten targets based in Cambodia. “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,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence John K.