US Issues More Sanctions Against Prince Group Scam Center Affiliates
The Treasury said Prince Group used shell companies and offshore entities to launder scam proceeds and evade earlier sanctions.
- On Thursday, the U.S. Treasury Department sanctioned four individuals and 41 entities linked to the Prince Group, a Cambodia-based organization accused of running global fraud operations targeting victims across Southeast Asia, Africa, and the United States.
- Treasury Secretary Scott Bessent stated the measures target shell companies the Prince Group created to launder money from scams exploiting human trafficking victims forced to conduct cryptocurrency and romance frauds.
- Washington also sanctioned Malaysian national Chui Kok Wa, who prosecutors indicted last week for conspiracy to commit wire fraud after allegedly stealing $516,695 from 74 cryptocurrency wallets tied to American victims.
- Officials aim to disrupt the network's access to international financial systems, as senior members relied on offshore entities to obscure asset ownership following founder Chen Zhi's arrest, though operations have largely folded.
- These actions follow Executive Order 14390, Combating Cybercrime, Fraud, and Predatory Schemes Against American Citizens, as the United States government continues broader efforts to dismantle criminal organizations operating across international borders.
23 Articles
23 Articles
Kenya: U.S. Sanctions Cambodia-Based Scam Network Linked to Trafficking of Kenyans Into Forced Labour
Nairobi -- The United States has imposed fresh sanctions on a Cambodia-based transnational criminal organisation accused of running international online scam operations, as hundreds of Kenyans rescued from scam centres in Southeast Asia emerge as victims of the expanding criminal networks.
The U.S. Treasury Department announced sanctions against four individuals and 41 companies linked to the Prince Group, a Cambodian business group alleged to be a transnational organized crime network.
US targets offshore network behind alleged scams - The Tribune
The United States sanctioned four individuals and 41 companies linked to Cambodia's Prince Group for running massive online scam networks. Treasury Secretary Scott Bessent emphasised that cyber syndicates continue stealing billions from Americans. Separately, Malaysian national Chui Kok Wa was sanctioned for a Madagascar-based scam.
The U.S. Treasury Department, through the Office of Foreign Assets Control (OFAC), has announced sanctions against four individuals and 41 entities belonging to the transnational criminal group Prince Group's corporate and financial infrastructure, accused of operating complex global networks of cyberstafas, money laundering and human trafficking. ... Continue reading "U.S. sanctions 4 people and 41 companies linked to cyberstafa networks in Sou…
The Record by Recorded Future
IT Security News - cybersecurity, infosecurity newsUS issues more sanctions against Prince Group scam center affiliates
The sanctions target four people and 41 companies linked to the Prince Group — a Cambodian company accused of running a billion-dollar scam operation.
Coverage Details
Bias Distribution
- 75% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
