EU sanctions kingpin, Myanmar armed group over cyberscams

The European Union on Thursday imposed sanctions on an alleged head of a crime syndicate that operated in Cambodia and an armed Myanmar group over cyberscams targeting victims worldwide.

Brussels said it was placing “multi-billion-dollar conglomerate” Prince Holding Group and its chair Chen Zhi on an assets freeze and visa ban blacklist for allegedly building “scam centre compounds in Cambodia and Myanmar through different front companies.”

“These scam centres perpetrate cryptocurrency investment scams and other fraudulent schemes,” the EU said.

“Furthermore, inside these centres, many victims from different countries are trafficked or lured under false pretences, held against their will, and forced to carry out online scams targeting victims around the world.”