Sept. 8 (UPI) -- The U.S. Treasury Department on Monday sanctioned scam centers across Southeast Asia that the agency said stole $10 billion in 2024 from Americans via forced labor and violence.
The Office of Foreign Assets Control targeted nine operators in Shwe Koko, Burma, described as a notorious hub for virtual currency investment scams under the protection of the already-sanctioned Karen National Army, according to the agency in a news release.
Also sanctioned were four people and six entities in Cambodia for their roles operating forced labor compounds where workers are forced to carry out virtual currency investment scams against victims in the United States, Europe, China and elsewhere.
"The United States seeks to impose tangible and significant consequences on those who commit serious human rights abuse or engage in corruption, as well as to protect the financial system of the United States from abuse by these same persons," the agency said.
Americans' losses in 2024 represent a 66% increase from the previous year.
