US, UK Go After Southeast Asian Scammers

TaiwanPlus News

The US and UK are sanctioning over 100 targets connected to the Cambodia-based Prince Group over fraud and other crimes. US officials moved to seize more than US$14 billion in Bitcoin, which they claim are the illegal profits of cryptocurrency scams. They also sanctioned a related company for allegedly laundering money to North Korea.

Transcript

00:00The U.S. and U.K. have taken their largest legal action yet against cybercrime centers

00:05in Southeast Asia.

00:06U.S. officials have sanctioned over 100 targets linked to the Cambodia-based company Prince

00:11Group for their alleged role in fraud, money laundering and modern-day slavery.

00:16Prosecutors also moved to seize more than US$14 billion in Bitcoin, which they say are

00:22illegal profits from crypto scams known as pig butchering.

00:26Crime centers often employ abducted foreign nationals including Chinese and Indians who

00:30are forced to work in slave-like conditions.

00:33The U.S. has also sanctioned a related company for allegedly laundering some of these profits

00:38to North Korea.

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