The United States has intensified its crackdown on global scam networks, targeting Cambodian tycoon Kok An for allegedly using political connections to shield a web of fraud operations.
The U.S. Treasury Department said his network ran scam compounds that lured vulnerable Americans through fake friendships or romantic relationships, convincing them to invest in digital assets before stealing their savings. Victims of human trafficking were reportedly forced to carry out these scams under threats of violence.
Treasury officials said Kok An owns multiple companies, including Crown Resorts, linked to these operations. Treasury Secretary Scott Bessent said eliminating fraud remains a top priority, vowing action against scam centers regardless of their reach or influence.
Arrests, Seizures and Expanding Probe
An interagency Scam Center Strike Force has charged two Chinese nationals connected to cryptocurrency fraud operations in Myanmar. The suspects, who also attempted to set up a similar compound in Cambodia, were arrested in Thailand in 2026 on immigration charges.
Authorities have also seized 503 fraudulent web domains and a messaging app used to recruit trafficking victims. The task force includes the Justice Department, FBI, U.S. Secret Service and federal prosecutors, reflecting a coordinated enforcement effort.
Financial Crackdown and Global Pressure
The crackdown comes alongside financial action, with Tether freezing over $344 million in assets linked to illicit networks in coordination with U.S. authorities.
The State Department has also offered a reward of up to $10 million for information leading to the recovery of funds tied to another Myanmar-based scam compound under sanctions.
Experts say the move signals a tougher U.S. stance, with analysts calling such scams a growing national security threat due to their scale and impact on victims.
(With inputs from Reuters)
