- A new anti-online scam law that sentences cryptocurrency scammers and operators of online fraud centres to 10 years to life in prison was approved by the Myanmar Parliament.
- With tougher penalties for offenses including violence, torture, or forced involvement, the law targets organized cybercrime, scam centres, and cryptocurrency fraud.
- When abuse is utilized in scam operations results in the death of a victim, the law stipulates that the perpetrator may be sentenced to life in prison or the death penalty.
The Myanmar Parliament has passed a new anti-online scam law that imposes prison sentences of 10 years to life imprisonment for individuals involved in cryptocurrency scams and those who operate online fraud centres.
According to the state-run Global New Light of Myanmar (GNLM), the Pyidaungsu Hluttaw, Myanmar’s unified Parliament, approved the bill on Tuesday after resolving differences between versions previously passed by its two chambers. The report did not specify whether the president had signed the bill into law or when it would come into effect.
The law is Myanmar’s most recent attempt to stop the expanding cyberscam sector, which has made several areas of the nation into centres for online fraud.
Myanmar’s New Law Targets Crypto Scammers & Online Scam Centres With Life Sentences
Strict sanctions for anyone engaged in bitcoin fraud and large-scale online scam operations are introduced under the Anti-Online Scam Bill. According to the new law, operators of online fraud centres may be sentenced to 10 years to life in jail, while cryptocurrency scammers may be sentenced to up to life in prison.
The law also targets criminal organizations that coerce victims into engaging in online fraud by using compulsion, violence, torture, or illegal imprisonment. If the abuse results in the victim’s death, such actions may carry a life sentence or the death penalty.
Myanmar’s New Crypto Scam Law Strengthens Financial Monitoring & Fraud Enforcement
Imposing criminal penalties, the law improves financial monitoring and enforcement, strengthening Myanmar’s capacity to combat online fraud. In order to stop additional losses, banks and other financial institutions may be given more power to freeze accounts connected to suspected fraudulent activity.
In order to track suspicious transactions, SIM card usage, and digital activity linked to scam networks, the law also improves coordination between banks, mobile network operators, and internet service providers.
The bill’s draft, which forbade cryptocurrency schemes and imposed fines ranging from ten years to life in prison, was released in May. Additionally, it permits punishments ranging from 10 years to life or the death penalty for acts of assault, torture, unlawful arrest, or detention used to coerce victims into participating in internet fraud; the death penalty is mandatory when such acts result in death.
Lower House MP Aye Chan stated that the final version kept the death penalty clause and that there were no major modifications to the draft’s key sections, according to a Straits Times report that cited the Agence France-Presse.
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