Cambodia’s $19 Billion Financial Scam Empire Fueled by Crypto, Says Watchdog Group - adtechsolutions

Physical Address

304 North Cardinal St.
Dorchester Center, MA 02124

Cambodia’s $19 Billion Financial Scam Empire Fueled by Crypto, Says Watchdog Group



Briefly

  • Cambodian officials profit from the KRIPTO-LIPORS with frauds in the amount of 19 billion, which includes a work workforce, fraud and platforms such as Huione Garanci, according to a report of consulting humanity.
  • Huione, based in Cambodia, allegedly processed $ 24 billion via telegram and launched his own stablecoin to bypass the financial surveillance.
  • The Telegram recently banned the accounts related to Huione, as the UN reports warn that Cambodia has become a global center for a crypto fraud.

The ruling elite in Cambodia is involved in the global economy of the fraud launched by Crypto, states in a new report connected by high government officials with networks and platforms for washing billion dollars, built to avoid surveillance.

Members of high rank Cambodian People’s Party helped enable and profit from transnational fraud schemes that rely on the work workforce and cannot be monitored Crypto currencyaccording to a Report on May 16 Published by Humanity Research Consultancy (HRC), an organization that campaigns against human trafficking.

One company special, Huione GroupIt is separated as a critical infrastructure in what the report calls the “vertically integrated” fraud industry now valid up to $ 19 billion a year, or 60% of GDP Cambodia.

“Cambodia is probably the absolute global epicenter of the Transnational Fraud of Next Gene 2025,” wrote Jacob SIMS, the author of the report and a visiting associate at the Harvard University of Asian Center.

SIMS accuses the situation of supporting “systematically and insidiously” criminal networks that operate behind the fraud, trafficking of humans and crypto rails.

Among the named Hun, the cousin of Prime Minister Hun Manet, who sitting on the board Since Huione Group, Huione Garance’s home company, a Escrow-based Escrow platform through which more than $ 4 billion has flowed since 2021, according to the US Treasury. HRC also appointed Deputy Government and Minister of the Interior Sar Sozh as a co-investor in one of the biggest fraud in Cambodia.

Decipher He addressed the Minister’s Office and will update the story if they answer.

“Focal point” for a crypto fraud

Hands HCs are aligned with the UNODC report published last month, which Alerted to the fraud of southeastern Asia spread to Africa, the Middle East and Latin America.

The report called Cambodia as a key node in this global expansion, and unions moved the Sihanoukville -Anoukville -Ai Penha dealership operations to rural provinces, including Koh Kong, dealing with Purs, where new compounds were quickly built since 2022.

HRC Lists Blockchain Analytics Elliptic’s Janus Report discovered that Huione launched his StabblecoinExtending his ability to process illegal payments, bypassing traditional financial channels.

“The scope of these Cambodia operations makes the focal points for the Global Crypto fraud,” said Deddy Lavid, CEO of Blockchain analytical platform Cyvers, said Decipher.

Telegram recently forbidden Channels and accounts associated with Haowang guarantee, RebranDed Huione guarantee, citing violations related to fraud and money laundering.

What are the pigs of the butcher’s fraud?

Huione guarantee, has become a central for washing revenue from romantic fraud, crypto of investment fraud and “pork butcher” operations that target victims around the world.

Fraud with pork butcher are where the victims emotionally nurture false romantic or business partners and are ultimately convinced that they invest large amounts under false excuses.

“Unfortunately, the use of cryptocurrencies as a final method of payment in pork butcher frauds is widespread due to the characteristics of the CRIPTO currency: pseudonymity, the lightness of cross -border transfers and the lack of centralized controls,” said Lavid said Lavid. Decipher.

Daily review Bulletin

Start every day with top news, plus original features, podcast, videos and more.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *