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U.S. Sanctions Cybercrime Networks Behind $10 Billion in Fraud

 

The United States Treasury has announced sweeping sanctions against criminal groups accused of running large-scale online scams that cost Americans more than $10 billion last year. The targeted networks, mainly operating out of Myanmar and Cambodia, are accused not only of financial fraud but also of serious human rights abuses.

How the scams work

Authorities say the groups rely on a mix of fraudulent tactics to trick people into sending money. Common schemes include romance scams, in which criminals build fake online relationships to extract funds, and investment frauds that present convincing but false opportunities. Victims often believe they are dealing with legitimate businesses or partners, only to later discover that their savings have vanished.

Investigators also mentioned disturbing practices inside these scam compounds. Many operations reportedly force people, often trafficked across borders into working long hours under threats of violence. Survivors describe conditions that amount to modern-day slavery, with physical abuse used to maintain control.

Why sanctions were imposed

To disrupt these activities, the Treasury’s Office of Foreign Assets Control (OFAC) blacklisted nearly two dozen individuals and entities. Those sanctioned include property owners who rent out space for scam centers, energy suppliers that

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