Gate News update: On April 3, according to Decrypt, Cambodia’s National Assembly has unanimously passed a new law aimed at combating cyber scams. It targets large-scale scam-camp operators that use crypto assets and carries a maximum penalty of life imprisonment. The bill still requires review by the Senate and final approval by King Norodom Sihamoni. Under the bill, the masterminds of scam rings will face 15 to 30 years in prison; if the crimes result in death, they could be sentenced to life without parole. Organizers face up to 20 years in prison and hefty fines. Participants may face 2 to 5 years in prison and fines up to $125k. Analysis notes that in recent years, crypto scams such as so-called “pig butchering” schemes have rapidly spread across Southeast Asia. They rely on crypto assets to enable cross-border transfers and money laundering, with the amount involved reaching tens of billions of dollars every year. Such crackdowns—or more of them—may lead to scam activities that “move rather than disappear.” What matters is whether efforts to suppress corruption protection, money-laundering networks, and cross-border funds transfer systems are carried out in parallel.
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