PHNOM PENH, September 25, 2026 — Cambodia is gathering evidence against suspected masterminds behind large-scale online scam operations, as the government faces growing questions over whether its year-long crackdown has managed to reach the people ultimately controlling the criminal networks.

Chhay Sinarith, who heads Cambodia’s government commission on combating fraud, said authorities were investigating not only the people directly operating scam centres, but also suspected owners, financial backers, facilitators and protectors.

He said legal action against such figures requires time and solid evidence. International cooperation has also become an important part of the investigations, with information from foreign partners helping Cambodian authorities identify and act against some suspects. Chhay warned that revealing investigations too early could allow suspects to escape.

Cambodia this week hosted representatives from more than a dozen countries, including the United States and China, at a global anti-scam conference in Phnom Penh. The meeting highlighted the growing international effort to tackle a criminal industry that has expanded rapidly across Southeast Asia.

A mᴀssive regional scam industry

Cambodia and several other Southeast Asian countries have become major locations for industrial-scale online fraud since the COVID-19 pandemic.

Large compounds have operated like closed communities, containing offices, accommodation, restaurants and other facilities for thousands of workers. Some people recruited into these operations have reportedly been trafficked or held against their will and forced to carry out online scams targeting victims around the world.

The financial impact has become enormous. The United States has estimated that scam compounds across Southeast Asia stole about $10 billion from Americans in 2024 alone.

The networks have also become increasingly sophisticated, relying on online platforms, cryptocurrency and other payment systems, money-laundering networks and international intermediaries.

Cambodia says large compounds have been dismantled

Cambodian authorities have spent the past year conducting raids and shutting down suspected scam compounds.

In August, Chhay said Cambodia had eradicated large-scale scam compounds following the government’s crackdown. However, authorities have not released a complete list of all sites that were raided or dismantled.

That has led analysts and critics to question how much of the wider criminal industry has actually been disrupted.

John Wojcik, a senior analyst at blockchain intelligence firm TRM Labs, said many large compounds appeared to remain active. He also said some operators were moving their activities into smaller and more decentralized locations.

According to Wojcik, closing physical compounds does not necessarily eliminate the infrastructure supporting online fraud. Technology, payment networks, money-laundering systems and other facilitators can continue operating even after a major scam centre has been shut down.

Focus shifts to the people behind the operations

The Cambodian government’s latest statements suggest that the campaign is increasingly shifting from closing scam compounds to investigating the networks behind them.

One major case involves Prince Group, a Cambodia-based business conglomerate that U.S. authorities have alleged was connected to multi-billion-dollar online fraud and money-laundering operations.

Its Chinese-born founder, Chen Zhi, was arrested and deported from Cambodia to China earlier this year. Cambodian officials are now expanding their investigation into the group’s financial network.

Reuters reporters were also taken to two facilities outside Phnom Penh that Cambodian authorities identified as former scam centres connected to Prince Group. The compounds were described as vast facilities capable of housing thousands of workers.

One of the sites reportedly contained a fake Singaporean police station, allegedly used as part of impersonation scams designed to deceive victims.

Lawyers for Prince Group did not immediately respond to Reuters’ request for comment.

Why shutting down compounds may not be enough

The biggest challenge for Cambodia is that the scam industry does not necessarily depend on a single physical location.

When authorities close a large compound, criminal groups can potentially move their workers, equipment and operations elsewhere. Some may divide large operations into smaller facilities that are harder to detect.

This makes financial investigations increasingly important. Authorities need to identify who controls the money, who provides the infrastructure and who helps criminal groups move or conceal their profits.

The same challenge exists across Southeast Asia, where scam networks operate across national borders and can move between jurisdictions.

International pressure continues

The issue has attracted increasing attention from governments around the world because victims are located far beyond Southeast Asia.

The United States, China and other countries are working with regional governments to identify suspects, trace money and dismantle international criminal networks.

For Cambodia, the issue is also closely connected to its international reputation. The country has faced criticism over allegations that powerful individuals or businesses have benefited from or protected scam operations. Cambodian officials have rejected allegations of wrongdoing and say their crackdown is continuing.

The government now faces the task of demonstrating that investigations can move beyond visible raids and reach the financial and organizational structures behind the scams.

The next test

Cambodia’s campaign has already resulted in the closure of numerous suspected scam sites and the arrest or removal of people involved in the operations. But analysts say the longer-term measure of success will be whether authorities can dismantle the networks that finance, organize and protect these operations.

For the Cambodian government, that means pursuing evidence against suspected masterminds while working with international partners to track money and identify key figures.

The process could take time, as Chhay has acknowledged. But the effectiveness of the crackdown will increasingly be judged not simply by how many compounds are closed, but by whether the people and financial networks behind the industry are successfully investigated and prosecuted.

For now, Cambodia says the next phase of its campaign is moving upward — from the workers and physical scam centres to the masterminds, financiers and networks believed to be behind them.