Cambodia

Neang Kok, Bak Khlang, Mondol Seima, Koh Kong, 9351, Cambodia; N. 205-209, Mao Tse Tong Boulevard, Sangkat, Toul Svay Prey I, Khan Chamkamo, Phnom Penh, Cambodia

L001-360000010, Tax ID No.

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning Cambodian businessman Ly Yong Phat (Ly), his conglomerate L.Y.P. Group Co., LTD (L.Y.P. Group), and O‑Smach Resort for their role in serious human rights abuse related to the treatment of trafficked workers subjected to forced labor in online scam centers. O-Smach Resort is owned by L.Y.P. Group, which is owned by Cambodian senator and tycoon Ly Yong Phat (Ly). OFAC is designating Ly, L.Y.P. Group, and O-Smach Resort pursuant to Executive Order (E.O.) 13818 for being foreign persons who are responsible for or complicit in, or have directly or indirectly engaged in, serious human rights abuse.

https://home.treasury.gov/news/press-releases/jy2576

2024-09-12

US

Executive Order 13818 - Global Magnitsky

OFAC-horizontal

Human Rights

Blocking Property, Suspending Entry

• https://ofac.treasury.gov/faqs/topic/5441

On December 23, 2016, the President signed the Global Magnitsky Human Rights Accountability Act (Pub. L. 114-328, Title XII, Subtitle F) (the “Act”) into law. The Act authorized the President to impose targeted sanctions on any foreign person the President determines is, among other things, responsible for extrajudicial killings, torture, or other gross violations of internationally recognized human rights, or a government official, or a senior associate of such an official, responsible for, or complicit in, ordering, controlling, or otherwise directing, acts of significant corruption. On December 20, 2017, the President, invoking the authority of, inter alia, the International Emergency Economic Powers Act (50 U.S.C. 1701-1706) (IEEPA), issued Executive Order 13818 (82 FR 60839, December 26, 2017) (E.O. 13818), effective at 12:01 a.m. eastern standard time on December 21, 2017. In E.O. 13818, the President determined that serious human rights abuse and corruption around the world constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States and declared a national emergency to deal with that threat. OFAC is issuing the Global Magnitsky Sanctions Regulations, 31 CFR part 583 (the “Regulations”), to implement the Act and E.O. 13818, pursuant to authorities delegated to the Secretary of the Treasury in E.O. 13818. A copy of E.O. 13818 appears in appendix A to this part.

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