Treasury Sanctions Transnational Cyber Scam Network Targeting Americans
The Department of the Treasury sanctioned a transnational criminal organization operating large-scale cyber fraud operations, including fraudulent call centers, online investment scams, and romance fraud, that have targeted thousands of Americans, the department announced Sept. 11. The organization has generated hundreds of millions of dollars in illicit proceeds, primarily by exploiting victims in the United States and other Western countries, according to Treasury. The sanctions freeze U.S.-accessible assets and prohibit Americans from conducting transactions with designated individuals and entities linked to the criminal network. The designations are administered by the Office of Foreign Assets Control. Online investment fraud, often called