On October 14, 2025, the OFAC and FinCEN, in close coordination with the United Kingdom’s Foreign, Commonwealth, and Development Office (FCDO), took complementary actions against criminal networks responsible for targeting citizens of the United States and other allied nations through online scams and the laundering of stolen funds. OFAC has sanctioned 146 targets within the Prince Group Transnational Criminal Organization, a Cambodia-based network led by Chen Zhi, known for online investment scams targeting Americans and others globally.
According to the Treasury’s press release, U.S. losses to online investment scams have steadily increased over the last several years, totaling over $16.6 billion. In the past ten years, organized crime groups, like Prince Group TCO, have set up profitable cyberfraud operations in Southeast Asia, especially in Cambodia. Prince Group TCO is a major player in Cambodia’s scam industry and has controlled illegal financial flows worth billions of dollars.
OFAC designated 117 businesses linked to the Prince Group TCO, primarily offshore shell companies, confirming they are controlled by members of the organization. Additionally, Treasury targeted the TCO's operations in Palau to support efforts against predatory investments by transnational organized crime from China. The U.K.’s FCDO has concurrently imposed sanctions on Prince Holding Group, Chen Zhi, and his key associates.
Alongside the coordinated sanctions action, FinCEN issued a final rule that severs Huione Group from the U.S. financial system.
Read the Treasury’s press release here.