Washington, June 24
The United States imposed sanctions on a network linked to a Cambodia-based criminal organisation accused of running large-scale online fraud operations that have targeted Americans and laundered illicit proceeds through companies across Asia and beyond.
The US Department of the Treasury said it sanctioned nine individuals and 26 entities connected to the Prince Group Transnational Criminal Organisation (Prince Group TCO), targeting senior leaders, investors in scam compounds and a network of front companies.
In a parallel move, the Treasury's Financial Crimes Enforcement Network (FinCEN) proposed expanding restrictions on H-Pay Service PLC, which officials said was linked to Huione Group, a financial network used to move and consolidate proceeds from cyber fraud and virtual currency scams.
"Scam centers in Southeast Asia steal billions of dollars from American victims each year," Treasury Secretary Scott Bessent said.
"The Trump Administration is united in its efforts to dismantle these overseas criminal enterprises, and Treasury will continue using its tools to disrupt the networks behind this egregious fraud and protect Americans," he said.
The Treasury said the action builds on its October 2025 designation of Prince Group as a transnational criminal organisation. US authorities accused the group of operating scam compounds that targeted victims in the United States and other countries while laundering proceeds through investments in real estate, aviation and other businesses.
According to the Treasury, international enforcement actions following last year's designation led to arrests, property seizures and asset freezes worth billions of dollars. It also noted that Chen Zhi, identified as the group's leader, was stripped of his titles and Cambodian citizenship earlier this year.
The latest sanctions target Hu Xiaowei, whom the Treasury described as Prince Group TCO's "second-in-command" and a close associate of Chen Zhi.
US officials alleged that Hu helped oversee the organisation's operations outside Cambodia, including real estate, aviation and gambling interests. Authorities said he controlled a network of companies in the British Virgin Islands, Hong Kong and Singapore that managed funds and assets connected to the organisation.
Several associates of Hu, along with companies in Hong Kong and the United Kingdom, were also sanctioned. The Treasury additionally targeted investors in scam compounds and individuals accused of helping process payments and launder proceeds generated by fraud operations.
The action comes as US authorities intensify efforts against criminal syndicates operating scam centres across Southeast Asia.
The Treasury cited a US government estimate showing Americans lost at least $10 billion in 2024 to scam operations based in Southeast Asia, a 66 per cent increase from the previous year.
The Treasury also said many workers in scam compounds are recruited through deceptive job advertisements and later subjected to coercion. According to US authorities, operators frequently seek English-speaking workers to target victims in the United States and other English-speaking countries.
The sanctions freeze any property or interests in property of the designated individuals and entities that fall under US jurisdiction. US persons are generally prohibited from conducting transactions with sanctioned parties.
Online fraud networks operating from parts of Southeast Asia have become a growing concern for governments across the world. International law enforcement agencies have increasingly focused on criminal organisations accused of combining cyber-enabled fraud, money laundering and human trafficking.
