Recent #Myanmar news in the semiconductor industry

8 days ago

➀ A massive scam center, 'KK Park', operates along the Moei River in Myanmar, resembling a Silicon Valley tech park but involved in transnational fraud and human trafficking.

➁ Since the military coup in 2021, the number of scam centers in Myanmar's border regions has increased from 11 to 27.

➂ Victims report harsh conditions, including electric shocks and torture, if they fail to meet their fraudulent performance targets.

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8 days ago

➀ The US Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on nine individuals linked to the Shwe Kokko scam hub in Myanmar.

➁ The sanctions aim to disrupt the ability of criminal groups to conduct large-scale fraud, forced labor, physical abuse, and theft of Americans' savings.

➂ According to OFAC, the scam centers have caused over $10 billion in losses to Americans in 2024.

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