On June 23, 2026, the OFAC sanctioned nine individuals and 26 entities linked to Prince Group TCO, including TCO leadership, investors in scam compounds, and front companies. This action further disrupts the group's overseas scam operations targeting Americans.
In a parallel action, FinCEN issued a proposed rule to amend its October 2025 Huione Group Final Rule to include Cambodia-based H-Pay Service PLC and any successor entity. The Final Rule severed Cambodia-based Huione Group from the U.S. financial system, which served as a critical node for laundering proceeds of cyber heists and virtual currency investment scams and was used to transfer and consolidate scam-derived assets.
The OFAC designated the Prince Group’s TCO’s second-in-command, Hu Xiaowei. Hu is in charge of setting up and supervising certain of the TCO’s subsidiary entities outside of Cambodia, conducting Prince Group TCO-related activities pertaining to aircraft, playing a role in Prince Group TCO-related transnational real estate activities, conducting illicit gambling activities, and owning companies that were ultimately controlled by Prince Group TCO leader Chen Zhi. In addition, Hu’s Hongkong-based subordinates,several investors, and a Thailand-based hotet were also designated.
All property and interests of the designated persons, as well as entities 50 percent or more owned by them, are blocked and must be reported to OFAC. U.S. persons are prohibited from engaging in any transactions involving these assets unless authorized or exempt.
Read the Treasury’s press release here.
Read FinCEN’s announcement here.
FiNCEN’s proposed rule can be found here.