Record bitcoin sum seized in UK-US crackdown on romance scam centres
Bitcoin worth $15 billion seized after romance scam centre crackdown
- UK and US authorities have launched a joint crackdown on criminal networks operating romance scam centres in Southeast Asia, resulting in significant asset seizures and sanctions.
- The operation led to the largest bitcoin seizure in US Department of Justice history, valued at $15bn (£11.3bn), and the freezing of luxury London properties linked to the illicit activities.
- Sanctions have been imposed on individuals and entities, including Chen Zhi, chairman of Cambodia-based Prince Holding Group, who is accused of directing forced-labour scam compounds.
- These scam centres lure victims into fake online relationships to defraud them of their savings, often using trafficked foreign nationals forced to carry out the fraud under threat of torture.
- Foreign Secretary Yvette Cooper stated the action aims to combat transnational threats, uphold human rights, protect British nationals, and prevent dirty money from entering the UK.