Every few weeks, Cambodia’s night sky is illuminated by fireworks, celebratory salutes from scammers marking their most successful swindles. By the time the fireworks burst and crackle, someone’s life savings have likely vanished into the depths of a sophisticated money laundering network that quickly moves billions of dollars. This underworld finds shelter in Cambodia’s capital, Phnom Penh, and the coastal city of Sihanoukville, operating from call centers in fortified compounds or unfinished high-rises. Despite efforts by the FBI, China’s Ministry of Public Security, Interpol, and others, the scams continue, with money launderers being as crucial as getaway drivers to bank robbers. The scammers, often active on social media and dating apps, lure victims into financial schemes or other tricks. Telecom companies block their numbers, and banks issue warnings, but the industry thrives due to its efficient money laundering operation. The analytics firm Elliptic has linked one marketplace to $26.8 billion in cryptocurrency transactions since 2021. The complex nature of this industry and its opaque transactions make it difficult to distinguish legitimate from illicit activities. The perpetrators, including individuals connected to high-profile figures in Cambodia, operate with impunity, leaving a trail of ruined lives in their wake.

Source: https://www.nytimes.com/2025/03/23/world/asia/cambodia-money-laundering-huione.html