Washington imposes sanctions on a Chinese-language online platform targeting Americans with fraud

Washington, Sept 9 (KUNA) -- The United States on Wednesday imposed sanctions on a Chinese-language platform it accused of operating a “large-scale, illegal” e-commerce market used to support electronic and financial fraud, money laundering, and other criminal activities targeting Americans. In a statement, the U.S. Department of Treasury said its Office of Foreign Assets Control (OFAC) took action against the platform “Shenbi Guarantee,” deeming it a “transnational criminal organization widely used by Chinese cybercriminals.” It further noted that OFAC designated two entities that support the core operations of Shenbi Guarantee by providing digital currencies and other financial services. The action was taken in coordination with the U.S. Department of Justice’s Fraud Center Task Force, which “seized today the infrastructure and digital asset wallets used by the platform.” Treasury Secretary Scott Bessent, quoted in the statement, said, “Fraud centers in Southeast Asia steal billions of dollars from American victims every year.” He affirmed that the U.S. administration is “united in its efforts to dismantle these criminal entities located abroad,” stressing that the Treasury Department “will continue to use its tools to disrupt the networks behind these heinous fraud schemes and protect Americans.” U.S. State Department spokesperson Tommy Pigott said the United States “will not allow malicious criminal networks to exploit the American people,” adding that “cybercrime, fraud, and exploitative schemes must stop here.” (End) R.S.R. / M.A.A.