Cambodia has passed its strictest anti-telecom fraud law, with encrypted fraud punishable by up to life imprisonment.

Cambodia's National Assembly has unanimously passed a new bill to combat online fraud, targeting operators of large-scale fraud schemes using crypto assets, with a maximum penalty of life imprisonment. The bill is currently awaiting Senate review and final approval by King Norodom Sihamoni. According to the bill, core leaders of fraud syndicates will face 15 to 30 years in prison, with life imprisonment possible if death results; organizers could face up to 20 years in prison and hefty fines, while participants could face 2 to 5 years in prison and fines of up to US$125,000. Analysts point out that crypto fraud, including "pig butchering" scams, has spread rapidly in Southeast Asia in recent years, using crypto assets for cross-border money transfers and laundering, involving hundreds of billions of dollars annually. Such crackdowns may lead to the "relocation rather than disappearance" of these fraudulent activities, the key being whether corruption protection networks, money laundering networks, and cross-border capital flow systems are simultaneously targeted. (Decrypt)