US Targets More Individuals and Firms Connected to Prince Group
The United States has announced additional sanctions against several individuals and companies tied to Cambodia-based Prince Group, intensifying efforts to disrupt international scam networks accused of targeting American citizens.
According to the U.S. Treasury Department, nine people and 26 entities associated with the conglomerate have been added to the sanctions list. Officials say the action is part of a broader crackdown on cyber fraud operations originating in Southeast Asia.
Treasury Secretary Scott Bessent said online scam centers across the region are responsible for billions of dollars in losses suffered by U.S. victims each year.
Authorities Cite Growing Cyber Fraud Losses
U.S. authorities estimate that Americans lost at least $10 billion in 2024 to scam operations based in Southeast Asia, marking a sharp increase from the previous year.
Officials say criminal groups use a range of schemes, with digital asset and cryptocurrency investment fraud among the most profitable. Victims are often lured into fake investment opportunities before their funds are stolen.
The latest measures expand previous actions taken in 2025 against Prince Group, a Cambodian conglomerate with interests in real estate, banking, and aviation.
Money Laundering Networks Under Scrutiny
The Treasury Department also proposed broadening restrictions related to the Huione Group by including HPay Service PLC and any successor entities. U.S. authorities allege that financial networks linked to Huione played a key role in laundering proceeds from cyber theft and cryptocurrency scams.
Officials claim these channels were used to process and conceal illicit funds generated through fraudulent operations associated with Prince Group.
The sanctions are part of ongoing efforts by Washington to combat transnational cybercrime and disrupt financial systems that support large-scale online fraud.
