US Sanctions Cambodian Senator, Escalating Crackdown on Crypto Scams

Odaily Planet Daily News The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced sanctions against Cambodian Senator Kok An, accusing him of controlling a network of "scam compounds" nationwide that defrauded U.S. victims through cryptocurrency investment schemes.

According to an OFAC statement released on Thursday, in addition to Kok An, 28 other individuals and entities were added to the sanctions list, all believed to be linked to his fraudulent network. The network is accused of luring victims into sending crypto assets with promises of "high-return investments."

This action follows recent raids by Cambodian police on two scam centers in the border town of Poipet. Kok An had previously been accused of operating scam outposts in the area.

OFAC stated that fraudsters typically gain victims' trust by establishing "friendships" or "romantic relationships," then guide them to participate in so-called crypto investment platforms to steal funds, with cumulative losses amounting to millions of U.S. dollars.

Notably, some individuals involved in the scam activities are themselves victims of human trafficking, forced to engage in illegal acts under the threat of violence. OFAC pointed out that these scam centers are often located in casinos or repurposed office parks and are not only used for money laundering but also serve as hubs for defrauding U.S. citizens and committing human rights abuses.

Additionally, regulators simultaneously seized over 500 domain names of fraudulent websites used to carry out crypto investment scams, indicating that the U.S. is further intensifying its crackdown on related criminal activities.