The bill aims to address gaps in existing legislation and enhance the effectiveness of combating transnational scam centers. Its adoption follows the UK's sanctions against operators of Cambodian scam centers and the extradition of their leader, Li Xun, to China. The country's parliament supported the bill, and it now awaits formal signing by King Norodom Sihamoni. The penalties for cryptocurrency fraud now include imprisonment from 2 to 5 years and fines up to $125,000. Organizers of such schemes face 5 to 10 years in prison and fines up to $250,000. In cases involving human trafficking or unlawful detention, the prison term can increase to 20 years.
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Cambodia Passes Bill on Strict Penalties for Cryptocurrency Fraud
The bill aims to address gaps in existing legislation and enhance the effectiveness of combating transnational scam centers. Its adoption follows the UK's sanctions against operators of Cambodian scam...