A Cambodian compound disguised as bank branches facilitates large-scale scams targeting victims globally. It features fake police offices, elaborate scripts, and evidence of forced labor among workers.

Key Points

🕵️ Inside the Scam Compound

• Located in O’Smach, Cambodia, near the Thai border.
• Contained mock-up rooms imitating banks, police stations, and government offices from multiple countries (Vietnam, Australia, Singapore, China, Brazil).
• Props included fake uniforms, badges, scripts, and counterfeit currency.

💻 Scale and Operations

• Highly organized, resembling a corporate structure with training, finance/money laundering, and creative departments.
• Workers used scripts for romance scams, fake police calls, and fraudulent investment schemes.
• Evidence showed international targeting: victims across Asia, Australia, South America, and beyond.
• Whiteboards and notebooks tracked victim progress and daily scam quotas.

⚔️ Military Context

• Thai military seized the site during border clashes with Cambodia in late 2025.
• Cambodia condemned Thailand’s occupation, calling it unlawful.
• Buildings show signs of fighting: bullet holes, debris, abandoned food, and paperwork.

💰 Economic Impact

• Scam centres are a huge industry in Southeast Asia.
• In Cambodia alone, online fraud is estimated at $12.5 billion annually, about half the country’s GDP.
• International pressure has led to sanctions and arrests, including Chen Zhi, a Chinese-born businessman extradited to China.

Fraudulent Operations Disguised as Banking Centers

A mock bank branch in O’Smach, Cambodia, is part of a large scam operation targeting victims worldwide, using sophisticated fraud schemes. The facility also includes fake police offices and scamming scripts for multiple countries.

A sprawling scam operation on the Thai-Cambodian border, masquerading as legitimate bank branches, particularly featuring the OCB bank’s logo. These elaborate “mock-up” rooms cater to criminal groups that orchestrate extensive fraud schemes targeting victims across Asia, Australia, and South America.

The six-floor compound in O’Smach holds rooms that mimic police offices from different countries, complete with fake uniforms and fraudulent scripts intended for deceiving victims over the phone. In a revealing media visit, it was uncovered that the site had been seized by Thai military forces after border clashes with Cambodia.

Response to Cybercrime and Intricate Scamming Tactics

The Cambodian government has faced international scrutiny and sanctions due to rampant cybercrime, with a massive online fraud industry generating an estimated $12.5 billion annually. Thai authorities have begun tightening measures against these operations, including controlling mule accounts used for laundering the fraudulent money.

Despite pledges from Cambodia to crack down on scamming and close numerous sites, the situation remains dire. Several tactics revealed in the scam center showcase a methodically organized operation, employing emotionally manipulative scripts designed to extract money from victims. The formal structure of these scam operations, complete with training sessions and specific target demographics, reflects a disturbing trend in transnational crime that affects countless unwitting individuals.

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FUNDAMENTALS

* Spot gold added 0.4% to $4,838.39 per ounce as of 0115 GMT, rebounding after ‌hitting its ⁠lowest ⁠since February 6 earlier in the day. Prices fell 3.7% on Wednesday.

* U.S. gold futures for April delivery shed 1.1% to $4,839.90.

* The dollar firmed, making greenback-priced bullion more expensive for holders of other currencies.

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* Oil prices climbed above $110 a barrel after Iran attacked several energy facilities across the Middle East following a strike on its South ⁠Pars gas ‌field, adding fresh inflation concerns.
* The closure of the Strait of Hormuz kept crude elevated, raising transport and manufacturing ⁠costs. While rising inflation backdrop typically boostsgold’s appeal as a hedge, high interest rates reduce demand for the non-yielding metal.
* The U.S. Federal Reserve and Bank of Canada both struck hawkish tones on Wednesday as surging energy prices arising from the Iran conflict clouded the inflation outlook.
* Both central banksheld rates steady, but warned of risks that rising energy costs ‌could fan a more persistent inflation spike.

* Meanwhile, U.S. President Donald Trump’s administration is considering deploying thousands of U.S. troops to reinforce operations in the ⁠Middle East.

* Spot gold has fallen more than 9% since the U.S.-Israeli strike on Iran on February 28, pressured by a stronger dollar, which has emerged as one of the clearest “safe-haven” winners.

* Spot silver gained 0.5% to $75.74 per ounce. Spot platinum rose 0.9% at $2,040.46 and palladium added 0.9% to $1,488.75.

DATA/EVENTS (GMT)

1230 US Initial Jobless Clm 14 Mar,

1230 US Philly Fed Business Indx Mar

1230 US New Home Sales-Units Jan

1200 UK BOE Bank Rate Mar — Japan JP BOJ rate Decision 19 Mar.

CUPERTINO, Calif. — Apple’s long-rumored foldable iPhone, widely anticipated for a 2026 debut, appears poised to address one of the biggest drawbacks in current foldable smartphones: the visible crease on the inner display. Multiple supply chain leaks and analyst reports from early 2026 indicate the device will boast a significantly reduced or “nearly invisible” crease, potentially setting a new standard in the category.

The foldable iPhone, often referred to as the iPhone Fold, remains in development with mass production of key components — including the crease-minimizing display panels — slated to begin in May 2026, according to recent leaks from Chinese social media accounts and supply chain insiders. Samsung Display is expected to supply the OLED panels, building on advancements showcased at CES 2026 where Samsung demonstrated a “crease-less” foldable OLED alongside its Galaxy Z Fold series.

Leaker Fixed Focus Digital, citing industry perspectives on Weibo, stated in mid-March 2026 that the foldable iPhone’s screen will achieve “flatness exceeding that of many currently available domestically produced foldable screen models.” The source emphasized that the crease will be “flatter and less visible” than competitors, with some interpretations suggesting it could “almost completely disappear” when unfolded.

Supporting details emerged from earlier leaks. In February 2026, Fixed Focus Digital reported the crease depth at under 0.15mm and the fold angle below 2.5 degrees — metrics indicating a shallow, smooth transition across the fold line. A smaller crease depth and angle make the line far less noticeable to the eye and touch compared to typical foldables, where creases often exceed 0.2-0.3mm and create sharper angles.

Analyst Ming-Chi Kuo, known for accurate Apple supply chain predictions, has aligned with these claims. In reports from early 2026, Kuo described a book-style foldable with a 7.8-inch inner display and 5.5-inch outer screen, emphasizing Apple’s pursuit of a “crease-free” or “nearly invisible” crease “regardless of cost.” He noted Apple shifted from a fully custom display to adopting Samsung’s laser-drilled metal plate technology — supplied by Fine M-Tec — which disperses bending stress to prevent permanent creasing.

This approach leverages microperforations and viscoelastic materials to distribute fold stress, a method Samsung highlighted at CES 2026 with panels showing “no crease at all” in demos. Kuo indicated the iPhone Fold’s structure, lamination and materials would differ slightly due to Apple’s custom design, but the core tech draws from Samsung’s advancements.

The crease reduction stems from Apple’s deliberate delay in entering the foldable market. For years, the company held back, prioritizing a premium experience without the visible fold line that plagues Samsung Galaxy Z Fold, Google Pixel Fold and other devices. Reports from late 2025 and early 2026, including from UDN and supply chain sources, confirm Apple developed a “new material property” to eliminate or minimize the crease, aligning with its reputation for refusing to ship products until meeting high standards.

Mass production timelines support a fall 2026 launch, likely alongside the iPhone 18 series in September. Leakers like Instant Digital and others peg display panel production for May 2026, with full device assembly following in July or later. This cadence fits Kuo’s prediction of a late-2026 rollout, though some earlier forecasts suggested possible delays to 2027.

Pricing remains speculative but points to a premium tier. Estimates range from $1,999 to $2,400 or higher, reflecting advanced materials, hinge engineering — possibly using liquid metal for durability — and Apple’s positioning. The device is expected to feature high-end specs, including dual 48-megapixel cameras, an A-series chip (likely A20 Pro), and iOS optimizations for multitasking on the larger inner screen.

While no official confirmation exists from Apple, the convergence of leaks from reliable sources like Kuo, Ross Young (display analyst) and Chinese tipsters builds confidence. Young’s prior forecasts and CES 2026 glimpses of Samsung’s tech reinforce the narrative of a breakthrough display.

If realized, the minimal-crease iPhone Fold could redefine foldables, offering a seamless tablet-like experience in phone form without the distracting fold line. Competitors have improved creases over generations — Samsung’s latest models show shallower lines — but Apple’s approach may achieve the closest to “crease-free” yet seen.

As development progresses toward mass production, attention turns to real-world durability, hinge reliability and everyday usability. With prototypes reportedly deep in testing, the foldable iPhone’s success will hinge on delivering the flawless screen Apple demands.

The Federal Trade Commission (FTC) issued warnings to 97 auto groups around the country, reminding them their advertised prices must be the total price, inclusive of all mandatory fees, that consumers will have to pay.

The FTC said its letters encouraged auto dealers to review their advertising and pricing practices to ensure that advertised prices include all fees consumers must pay when buying a vehicle. 

It said that, at minimum, it includes evaluating advertised prices to ensure they match actual prices charged to consumers. The agency added it will continue to monitor the marketplace and will take action as warranted to ensure compliance with the FTC Act and other rules.

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“The Trump-Vance FTC is committed to preventing auto dealers from misleading consumers with low advertised prices and then adding on mandatory fees at the end of the purchasing process,” said Christopher Mufarrige, director of the FTC’s Bureau of Consumer Protection. 

“The FTC will remain focused on monitoring auto dealerships to ensure that the market functions efficiently and competitors are transparently competing on price.”

The FTC sent letters to 97 auto dealerships in a push to promote price transparency. (iStock)

The agency said the letters to auto dealers are part of the FTC’s broader efforts to ensure price transparency across multiple markets, including rental housing, ticketing and hotels, grocery and delivery services and auto sales and leasing.

The FTC’s efforts aim to support affordability in the marketplace by ensuring that consumers only pay the advertised price for products and services and don’t face undisclosed fees, hidden charges or other illegal conduct.

“When consumers do not know the true price of a car — or any product — consumers and others suffer related consequences, including that consumers cannot comparison-shop and make informed decisions, sellers trying to deal honestly with consumers are put at a competitive disadvantage, and the market cannot operate efficiently,” a template version of the warning letter posted on the FTC’s website explained.

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The FTC informed nearly 100 auto dealerships that it’s examining dealers’ pricing practices. (David Paul Morris/Bloomberg via Getty Images)

The letters the FTC sent to the auto dealers offered several examples of illegal pricing practices in the auto industry.

Those include advertising a price that doesn’t reflect all required fees, advertising a price that reflects rebates or discounts that aren’t available to all consumers and advertising a price that fails to take into account the amount of an additional required down payment.

They also include conditioning the advertised price on consumers using dealer financing, requiring consumers to buy additional items not reflected in the advertised price and advertising unavailable or non-existent vehicles.

NEW FTC CHAIR ANDREW FERGUSON PREVIEWS TRUMP ADMIN’S PLANS FOR THE AGENCY

The FTC told dealers to confirm that their advertised prices match the actual sales price. (David Paul Morris/Bloomberg via Getty Images)

The FTC’s template letter informs the recipient that the agency is concerned that the recipient may be engaging in one or more of those practices.

It also encourages the recipient to “review your practices, including by making sure the prices you advertise include all required fees and charges aside from required government charges, to ensure you are complying with applicable laws. This would include, at a minimum, evaluating your advertised prices and actual prices and confirming they match.”

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The template letter adds that the notice “is not intended to be a comprehensive statement of concerns that may exist about your dealership or dealership group” and it also isn’t intended to “represent any conclusions on whether your dealership or dealership group is engaging in these practices.”

Japan’s Nikkei 225 slumped 2.4% ahead of a rate decision while a broader gauge of Asian shares also fell more than 1.3% as investors trimmed risk. US futures edged lower after the S&P 500 and Nasdaq 100 both declined 1.4% Wednesday.

Brent crude rose above $111 per barrel as strikes between Iran and Israel on critical energy facilities, which included damage to the world’s largest liquefied natural gas export plant in Qatar, raised concerns of a more lasting impact from the conflict.

Treasuries sold off across the curve on Wednesday, pushing yields higher and lifting the dollar after Federal Reserve Chair Jerome Powell said the Iran conflict has added fresh uncertainty to the inflation outlook, making the path for interest rates harder to gauge. Officials left rates unchanged and continued to expect one cut this year.

“There is little doubt that higher oil prices are starting to have a broader impact, and with volatility elevated, headline risk remains ever present,” Chris Weston, head of research at Pepperstone Group, wrote in a note. “The Fed meeting was largely a non-event, but once again it is developments in the energy complex that are driving cross-asset flows.”

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Beyond the focus of the war, concerns over the health of the private credit market continued to play out. S&P Global Ratings lowered its outlook on Cliffwater LLC’s flagship private credit fund to negative, citing elevated redemption requests. Pacific Investment Management Co. is staying away from private credit loans being put up for sale over quality concerns, its president Christian Stracke said.
Powell’s comments prompted traders to scale back expectations for rate cuts this year, reinforcing a higher-for-longer rate outlook amid volatility in energy markets.The yield on two-year Treasuries steadied on Thursday after jumping 10 basis points to 3.77% in the previous session. Traders are pricing in only about 15 basis points worth of Fed easing this year, less than one full quarter-point cut.

In economic forecasts released with their decision, Fed officials raised their outlook for inflation in 2026 to 2.7% from 2.4%. Notably, they saw the core measure — which excludes volatile food and energy categories — also rising to 2.7%.

“The Fed didn’t move today — but it didn’t need to,” said Gina Bolvin, president of Bolvin Wealth Management Group. “This is a central bank that’s comfortable waiting, watching, and staying flexible. One projected cut tells you everything: the Fed is not in a rush, and neither should investors be.”