In an attempt to crack down on cybercrime, Cambodia recently extradited fugitive tycoon Chen Zhi and his key associate, Li Xiong, to China and passed a law that imposes life sentences and heavy fines on scammers. All 112 lawmakers present in Cambodia’s National Assembly voted on March 30 to pass the Law on Combating Online Scams. The law passed Senate review today, April 3. It imposes severe penalties ranging from heavy fines to life imprisonment for those running forced-labor fraud compounds.

Cambodia passes new bill to sentence scammers to prison

Under the legislation, individuals suspected of being directors of fraud operations face 5 to 10 years in prison and fines of up to $250,000. If a scam operation involves human trafficking, illegal detention, or physical violence, the ringleaders face 10 to 20 years in prison. If a victim dies, often as a result of escape attempts or torture, the bosses face 15 to 30 years or even life imprisonment.

Cambodian Justice Minister Koeut Rith told a news conference that passing the law aims to “send a message to cyber scammers that Cambodia is not a place to do scams.” In January 2026, Cambodian authorities arrested and extradited Chen Zhi, the 38-year-old chairman of Prince Group, to China. Chen, who once boasted of making $30 million daily from online scams, had his Cambodian citizenship revoked, and now he faces potential life imprisonment.

Li Xiong, the former chairman of Huione Group, a Prince Group subsidiary, was also extradited. Enforcement of laws in Cambodia has historically been a challenge. Jacob Sims, a visiting fellow at Harvard University’s Asia Center, noted that past crackdowns in the country often failed because they left the financial and protection networks for these criminals intact, allowing their operations to quickly restart.

Furthermore, the US State Department previously alleged that some senior-level officials were complicit in the schemes, but the government has so far denied the accusation. Meanwhile, experts have warned that while the pressure is forcing scam operations to end in Cambodia, the global scam economy, which is valued as high as $64 billion annually by the UN, cannot easily fall apart. The industry is simply spilling over into Africa and other parts of Asia.

Scam centers are expanding to other regions

The UN Office on Drugs and Crime (UNODC) recently reported that the cyberscam industry has reached “industrial proportions.”As crackdowns intensify in Southeast Asia, crime syndicates are expanding their operations into Africa, specifically targeting nations like Zambia, Angola, and Namibia where regulation is looser. The UN has worryingly described the spillover as “potentially irreversible.”

According to a March 2026 report from the Global Initiative Against Transnational Organised Crime (GI-TOC), South Africa has become a popular base for international scammers who operate targeting victims abroad. Interpol’s Operation Red Card 2.0, conducted from December 2025 to January 2026 across 16 African countries, resulted in 651 arrests and the recovery of over $4.3 million in illicit proceeds.

In the meantime, following the extradition of scam kingpins in Cambodia, thousands of trafficked victims who were abandoned without their passports or money by fleeing compound managers have been left stranded at embassies in Phnom Penh or attempting to cross borders. Since July 2025, Cambodia has deported over 11,000 foreign nationals linked to the trade.

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On Saturday, Trump took to Truth Social to say he spoke to both countries’ leaders and told them clearly, either end this now or face economic punishment. He wrote, “Both Parties are looking for an immediate Ceasefire and Peace. They are also looking to get back to the ‘Trading Table’ with the United States, which we think is inappropriate to do until such time as the fighting STOPS.”

Trump called both leaders while in Scotland

Donald Trump is on a visit to Scotland for what was supposed to be a mix of diplomacy and golf. According to reports, he made two separate calls to the leaders of Cambodia and Thailand. His first conversation was with Hun Manet, the Prime Minister of Cambodia, where he asked for “an END to the War.” He also said if the two governments don’t reach a deal soon, he will “not want to make any Deal, with either Country.”

Trump had a tee time lined up at his Turnberry resort with one of his sons and US Ambassador to the UK, Warren Stephens. But that didn’t stop him from weighing in. “The call with Cambodia has ended, but expect to call back regarding the War stoppage and Ceasefire based on what Thailand has to say,” Trump posted. “I am trying to simplify a complex situation!” A few minutes later, Trump called Phumtham Wechayachai, the acting Prime Minister of Thailand. He said Phumtham “wants to have an immediate Ceasefire, and PEACE.”

He did not stop there as he compared the situation to the earlier conflict between India and Pakistan. In his words, the US was responsible for ending the flare-up by applying trade pressure. “If you stop it, we’ll do a trade,” Trump said back then. “If you don’t stop it, we’re not going to do any trade.” However, India’s spokesperson denied that version of events, noting that “The issue of trade didn’t come up in any of these discussions.”

Cambodia and Thailand are already deep in the crosshairs of Trump’s trade war. Last week, he slapped a new 36% tariff on most exports coming from both countries. That move goes into effect on August 1, and the economic pain hasn’t even started. Trump’s latest comments suggest things could get worse if they don’t come to a ceasefire quickly.

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Serey Says Bakong’s Primary Objective is To Integrate the Unbanked Population

Bakong, launched by the National Bank of Cambodia (NBC) in October 2020, is a blockchain-based digital payment system designed to facilitate seamless transactions in both riel and U.S. dollars. It aims to promote financial inclusion and modernize the country’s payment infrastructure. Since its launch, Bakong has seen significant adoption, with over 200,000 users and 6.8 million transactions by the end of 2023.

Serey highlighted that Bakong’s primary objective is to integrate the unbanked population into the formal financial system. Approximately 78% of Cambodians remain unbanked, relying on cash transactions that limit their access to financial services. By providing a digital platform for transactions, Bakong enables more people to participate in the formal economy, thereby boosting the circulation and use of fiat currency.

The governor also pointed out that Bakong offers a secure and efficient means of transferring money, reducing the dependency on physical cash and lowering transaction costs. This, in turn, enhances the overall efficiency of the financial system and promotes economic growth.

Moreover, Serey mentioned that Bakong’s interoperability with other payment systems allows users to transact seamlessly across different platforms, fostering a more inclusive financial ecosystem. The digital currency’s success has garnered international attention, with several countries exploring similar initiatives to enhance their financial systems.

While the central bank acknowledges the potential risks associated with digital currencies, such as cybersecurity threats and the need for robust regulatory frameworks, it remains committed to ensuring the safe and effective implementation of Bakong. The NBC continues to work closely with financial institutions and technology partners to address these challenges and enhance the system’s resilience.

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