SCAM HOTSPOT
The US Treasury’s Financial Crimes Enforcement Network (FinCEN) designated Phnom Penh-based Huione Group a “primary money-laundering concern” last year, and prohibited US financial institutions from processing transactions with it.
FinCEN said the conglomerate had received at least US$4 billion worth of illegal proceeds between August 2021 and January 2025.
That included proceeds from scams, stolen funds and illicit cyber actors.
Beijing has called Huione’s Li “a core member” of the criminal gang of Chen Zhi, another Chinese-born accused scam boss who was operating from Cambodia before being extradited to China this year.
Cambodia has emerged as a hub for the transnational scam industry in recent years, with organised crime groups initially mostly targeting Chinese speakers before widening their reach and stealing tens of billions of dollars annually from victims around the world.
From casinos, hotels and fortified compounds, scammers – some willing, others trafficked – operate fake romantic relationships and cryptocurrency investment schemes, enticing targets via social media and messaging platforms to hand over funds and personal information.
Cambodian authorities say they are cracking down, detaining and deporting more than 13,000 foreign nationals involved in online scams since early last year.
Monitors have accused senior Cambodian officials of complicity – allegations the government has denied.
But in recent months, authorities have announced charges against several police and immigration officials accused of involvement with cyberscams.
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