The UK has sanctioned the operator of one of Cambodia’s largest scam compounds, and a major crypto-based Southeast Asia marketplace that sells stolen personal data to traffickers.
The measures are part of a wider international effort and seeks to protect UK residents from being scammed, aid Cambodia in its crackdown, and help stop human rights abuses.
The newly sanctioned firm Legend Innovation Co, and its director, Eang Soklim, ran a compound called #8 Park. The facility is believed to be the country’s largest such compound and can house up to 20,000 trafficking victims.
This compund is connected to the South Asian conglomerate Prince Group and its head, Chen Zi, who was arrested and extradited to China earlier this year.
The sanctions also targeted two of Chen’s allies, Thet Li, and Hu Xiaowei.
The front of the #8 Park scam compound in Cambodia, otherwise known as Legend Park (Credit Cyber Scam Monitor).
Read more: Cambodia has deported 48K foreigners since scam center crackdown began
One of the largest crypto-based criminal marketplaces, Xinbi, was also sanctioned.
Xinbi sells stolen personal data and satellite equipment to traffickers and has helped launder crypto assets stolen by North Korea.
The UK said the sanctions “will isolate the platform from the legitimate crypto ecosystem, significantly disrupting its operations by affecting its ability to send and receive cryptocurrency transactions.”
Crypto analytics firm Elliptic claims that Xinbi’s inflows have reached over $19.7 billion.
BSquare Technology, the sister firm of a Prince-linked crypto exchange BYEX, was also sanctioned today, alongside a Myanmar-based triad leader, and the wife of a Prince Group operator.
As a result of the latest sanctions, a number of London properties will be frozen. They join assets frozen as a result of previous action against the network, including a £100 million ($133 million) office block, two mansions, and a helicopter.
Joint effort to stop human trafficking scam networks
According to a UK government press release, “Across Southeast Asia, scam centers are using sophisticated schemes, including scams in which people are lured into fake romantic relationships, to defraud victims on an industrial scale, including in the UK.”
It added, “Today’s sanctions will have an immediate effect, further immobilising this scam network and its financial enablers, who have profited from the exploitation of vulnerable people.”
Read more: Billion-dollar scammer Chen Zhi arrested in Cambodia, extradited to China
Last month, Cambodia claimed to have deported over 48,000 foreign individuals recovered from scam center raids. Local authorities also claim to have targeted 2,500 compounds so far.
The government’s crackdown followed mounting international pressure from countries including China, the US, and South Korea.
Indeed, China has been busy executing scam center leaders, while the UK and the US sanctioned the Prince Group last year. This in turn led to the closure of the Prince Group-linked crypto exchange BYEX.