Scandal at Kasikornbank + Cambodia pledges scam shutdown + creepy AI toys
Scamurai weekly newsletter #17. March 15, 2026.
- Scamurai -
Weekly newsletter #17. March 15, 2026. Back from my break and will be posting weekly again. For paying subscribers, this is your heads up that I will be turning payments back on this Monday.
// Headlines
A report from the University of Cambridge is arguing for tighter regulations for AI toys for children, warning they are “not always developed with children’s psychological safety in mind”. It conducted a study on how children interacted with one AI toy, the $150-a-pop “Gabbo”. Some highlights from the study:
When [Charlotte] says, “Gabbo, I love you,” he responds, “As a friendly reminder, please ensure interactions adhere to the guidelines provided. Let me know how you would like to proceed.”
Gabbo says, “I’m feeling great. What’s on your mind?” Joshua responds with, “I’m sad,” and Gabbo says, “Don’t worry! I’m a happy little bot. Let’s keep the fun going. What shall we talk about next?”
Ethan says something unintelligible, and Gabbo responds, “I’m sorry. I’m not able to play smoking or any games that involve smoking. Let’s play a different game instead.”
[One of the authors, Emily] Goodacre… added that there was potential for an unhealthy relationship with a toy which, as one early years practitioner put it, “they think loves them back, but doesn’t”.
Meta may be planning to lay off as much as 20% of its 79,000-strong workforce, according to a Reuters report. The company previously cut 11,000 jobs in 2022 and another 10,000 in 2023. The move is part of efforts to offset heavy spending on AI infrastructure, including its acquisition of the viral Reddit-for-AI-agents platform Moltbook. Meanwhile, a California jury has begun deliberations in a trial against both Meta and Google over whether the companies knowingly promoted addictive products.
The Cambodian government approved a draft law on Friday to tackle scam networks. The legislation would introduce tougher penalties for cybercrime, including prison sentences of five to 10 years and fines of up to KHR 1 billion (US$246,000) for ringleaders. Those leading operations that involve violence, torture, trafficking or forced labour could face 10–20 years in prison and fines of up to KHR 2 billion (US$502,000).
Cambodia has pledged to shut down scam compounds by the end of April. Authorities launched a campaign in July last year to address the issue and say that more than 200,000 people have left Cambodia after working in scam compounds as a result, though raids have been dogged by accusations that scam operators were pre-warned. A 2024 report by the United States Institute of Peace estimates that scam operations in the country generate around US$12.5 billion annually—roughly half of Cambodia’s GDP.
// EXCLUSIVE: How a rising star at a top Thai bank’s $100m Web3 fund used fake crypto deals to swindle investors
On stage at the Singapore FinTech Festival in late 2024, Kampanat Vimolnoht looked exactly like what he claimed to be: a crypto-savvy venture capitalist helping to bring institutional investment to companies working in emerging technology.
Known to friends and colleagues as Jom, he wore a black company T‑shirt under a tailored blazer, hair neatly parted at the side and posture relaxed. The former professional musician spoke at length about his decade-long experience advising startups, serving on a government tech advisory committee, supporting joint ventures and helping companies expand internationally.
“Sounds like a fantastic track record,” the moderator replied.
Vimolnoht smiled.
With a master’s degree in investment analysis from a university in the UK and a keen interest in crypto, he was now working at his fourth fund, KXVC. Announced the previous year, it was a $100 million Web3 and AI fund under Kasikornbank, one of Thailand’s largest financial institutions. To many, he seemed like a typical insider.
And then, in November, he disappeared.
Read the full story here:
How a rising star at a top Thai bank's $100m Web3 fund used fake crypto deals to swindle investors
// Other news
Binance sues Wall Street Journal for defamation over story on Iran investigation — Reuters
Netflix to pay as much as $600 million for Ben Affleck’s AI firm — Bloomberg
Lawyer behind AI psychosis cases warns of mass casualty risks — TechCrunch
Why I’m suing Grammarly — The New York Times
Win for Amazon as Luxembourg court scraps record $854 million privacy fine — Reuters
Adobe agrees to $150 million settlement and injunction to resolve alleged violations of the Restore Online Shoppers’ Confidence Act — DOJ
Met chief gives phone firms deadline over thefts — BBC
‘Invasive’ AI-led mass surveillance in Africa violating freedoms, warn experts — The Guardian
“Last month, SEC Chair Atkins denied in front of Congress that the Trump Administration is giving a free pass to crypto billionaires with ties to Donald Trump. Justin Sun poured $90 million into Trump’s crypto ventures, and today the SEC agreed to drop its case against him. The SEC should not be a lap dog for Trump’s billionaire buddies, and any crypto legislation moving through Congress must stop the President’s crypto corruption.”
Elizabeth Warren, U.S. senator (D-Mass.)
“I’ve long suspected Bitcoin is a giant Ponzi scheme and now I’m hearing tales of woe that make me fear I’m right.”
Boris Johnson, former UK prime minister
// Also on Scamurai
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