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The U.S. Treasury has imposed sanctions on 19 entities across Burma and Cambodia responsible for massive ‘pig butchering’ scams that defrauded Americans of $10 billion in 2024. These criminal operations use trafficked workers and sophisticated crypto schemes to target victims through fake investment platforms. The action represents a 66% increase in scam losses compared to the previous year.
- Sanctions target 9 entities in Burma's Shwe Kokko compound and 10 in Cambodia's former casino complexes, both operating as large-scale fraud centers with forced labor
- Stablecoins like USDT enable instant cross-border fund transfers for scammers, though blockchain transparency allows investigators to trace and freeze stolen funds
- Criminal networks are expanding from Southeast Asia to Africa and Middle East, with Cambodia's ruling elite allegedly linked to $19 billion crypto-fueled scam industry
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