U.S. imposes sanctions on Cambodian entrepreneur for role in crypto-related scams

The U.S. Department of the Treasury's Office of Foreign Assets Control has sanctioned Cambodian entrepreneur and senator Ly Yong Phat for his involvement in human rights abuses related to forced labor in online scam centers, The Register reported. Ly's conglomerate, L.Y.P. Group, is alleged to be linked to a forced labor camp where individuals are coerced into promoting fraudulent cryptocurrency and foreign exchange schemes. Victims are reportedly lured with false job offers, have their personal documents confiscated and face severe abuse.