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- U.S. and U.K. authorities launched joint sanctions against criminal groups behind global online scams.
- Cambodia-based Prince Group TCO and Huione Group face full financial restrictions.
- The crackdown targets networks accused of fraud, money laundering, and human trafficking.
According to the announcement, the United States and the United Kingdom have joined forces to dismantle one of the most sophisticated transnational crypto scam networks operating across Southeast Asia.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) coordinated the action, targeting entities using digital assets to facilitate large-scale fraud and money laundering schemes.
It is working closely with the U.K.’s Foreign, Commonwealth, and Development Office (FCDO), and announced sweeping measures against criminal organizations responsible for online investment fraud and money laundering.
At the center of this crackdown is the Prince Group Transnational Criminal Organization (Prince Group TCO), a Cambodia-based network led by Chen Zhi. The U.S. has imposed sanctions on 146 individuals and entities linked to the group, accusing them of orchestrating massive online fraud schemes that have targeted victims worldwide.
U.K. and U.S. Target Global Crypto Scam Network
The U.K. simultaneously imposed its own sanctions against the same network and its leadership. These coordinated actions mark a significant escalation in global efforts to combat online financial crimes that have drained billions of dollars from victims, many of them in the United States.
In a parallel move, FinCEN issued a final rule under the USA PATRIOT Act to cut off the Cambodia-based Huion Group from access to the U.S. financial system. Authorities allege that Huione acted as a major financial conduit for laundering stolen virtual assets from global cyber heists and scams.
Investigations found that Huione Group processed more than $4 billion in illicit funds between 2021 and 2025. This includes money linked to North Korean cyber thefts and Southeast Asian “pig butchering” scams, where victims are deceived into fake investment schemes.
Reports Tie Prince Group to Violence and Casino-Linked crypto Crimes
U.S. institutions are now barred from maintaining any accounts or transactions tied to Huione, effectively isolating the company from the global banking network. The move aims to block the financial pipelines that allow cybercriminals to conceal and transfer stolen money across borders. A critical step in slowing the growth of transnational digital fraud.
Prince Group TCO’s network spans real estate, entertainment, and banking sectors in Cambodia. Authorities describe it as a criminal enterprise operating behind a facade of legitimate business.
Investigations reveal its deep involvement in cyber scams, human trafficking, and forced labor. Victims were often lured with false job offers and forced to conduct online fraud in tightly controlled compounds.
Reports also connect Prince Group to violent crimes, including extortion and murder linked to casino and resort operations. By freezing assets and severing global financial links, U.S. and U.K. authorities aim to dismantle this vast network of fraud and exploitation. The latest actions demonstrate an expanding international commitment to combat organized cybercrime and safeguard citizens from global financial predators.
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