The United States imposed sanctions on a network connected to a Cambodia-based criminal organisation identified as the Prince Group Transnational Criminal Organisation (Prince Group TCO), which authorities say orchestrated large-scale online fraud targeting American victims. The Treasury Department froze assets and barred transactions involving nine individuals and 26 entities affiliated with the group.
This latest move follows the US government's prior designation of Prince Group as a transnational criminal organisation last year. The Treasury highlighted that the group operated scam compounds aimed at bilking Americans and others abroad, while disguising their illicit profits through investments in sectors such as real estate, aviation, and gambling.
Central figures in the organisation include Chen Zhi, the group’s former leader who has since lost both his titles and Cambodian citizenship, and Hu Xiaowei, described as the second-in-command. Hu allegedly managed the group’s overseas operations, including various corporate networks registered across the British Virgin Islands, Hong Kong, and Singapore.
US authorities also sanctioned numerous associates of Hu and investors involved in funding scam compounds, as well as companies believed to facilitate payment processing and money laundering activities related to these fraud schemes. These entities spanned several jurisdictions, including Hong Kong and the United Kingdom.
In coordination with these sanctions, the Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed expanded restrictions on H-Pay Service PLC, a payment processor linked to Huione Group—a financial network reportedly used to consolidate proceeds from cyber fraud and virtual currency scams.
The Treasury emphasized the broader impact of Southeast Asian scam centres, estimating that Americans lost at least $10 billion last year to fraud operations based in the region, marking a significant increase from previous years. The crackdown signals intensified US efforts to dismantle overseas criminal enterprises exploiting global financial systems and victimising American individuals.