The United States has imposed sanctions on a network associated with a Cambodia-based criminal group accused of conducting large-scale online fraud activities targeting Americans. The US Department of the Treasury announced sanctions on nine individuals and 26 entities linked to the Prince Group Transnational Criminal Organization (Prince Group TCO). This action targets key leaders, investors in fraudulent schemes, and a network of front companies.
In a related move, the Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed expanding restrictions on H-Pay Service PLC, allegedly connected to Huione Group, a financial network facilitating the movement and consolidation of proceeds from cyber fraud and virtual currency scams. Treasury Secretary Scott Bessent emphasized the significant financial losses suffered by American victims due to scam centers in Southeast Asia, amounting to billions of dollars annually.
The Treasury’s latest measures build upon its previous designation of Prince Group as a transnational criminal organization in October 2025. The group was accused of operating scam centers that defrauded victims in the US and other countries while laundering illicit proceeds through investments in various sectors. Following international enforcement actions post the 2025 designation, arrests, property seizures, and asset freezes worth billions of dollars were conducted. Chen Zhi, identified as the group’s leader, had his titles revoked and Cambodian citizenship stripped earlier this year.
The recent sanctions specifically target Hu Xiaowei, described as the “second-in-command” of Prince Group TCO and a close associate of Chen Zhi. Hu is alleged to have overseen the group’s operations beyond Cambodia, including interests in real estate, aviation, and gambling. Authorities stated that he managed a network of companies in the British Virgin Islands, Hong Kong, and Singapore handling funds and assets related to the organization. Additionally, associates of Hu and companies in Hong Kong and the UK, along with investors in fraudulent schemes, were also sanctioned.
US authorities are intensifying efforts against criminal syndicates running scam centers in Southeast Asia, with a focus on combating the escalating financial losses suffered by Americans due to fraudulent activities originating from the region. The sanctions freeze assets and property of the designated individuals and entities falling under US jurisdiction, prohibiting transactions with them. The rise of online fraud networks in Southeast Asia has raised concerns globally, prompting increased attention from law enforcement agencies combating cyber-enabled fraud, money laundering, and human trafficking.
