Treasury Sanctions 46 Targets in Global Scam Networks, Including Prince Group Corporate Infrastructure
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) on November 5 announced a new round of sanctions designating four individuals and 41 entities that support the business network of the Prince Group Transnational Criminal Organization (TCO), plus a Malaysian individual who defrauded U.S. victims by managing a network of Africa-based scammers — 46 targets in all.
Treasury said Prince Group TCO-affiliated actors have generated billions of dollars in illicit proceeds through cyber-enabled fraud schemes, including digital asset investment scams and romance scams, victimizing Americans and individuals around the world. Many operations have been linked to scam compounds in Southeast Asia that rely on trafficked and coerced workers, with proceeds laundered through offshore companies and financial facilitators. The newly designated individuals and entities helped sustain the group's operations after the October 2025 and June 2026 designations by managing offshore corporate structures, concealing beneficial ownership, and providing administrative and financial services to senior Prince Group TCO executives.
"Cyber scam syndicates continue to steal billions of dollars from American victims while relying on sophisticated international business networks to launder their illicit proceeds," said Secretary of the Treasury Scott Bessent. "Treasury remains committed to dismantling every layer of these organizations—from their leadership to the corporate structures and financial facilitators that enable them to operate with impunity."
The designations include key Prince Group TCO member Qiu Yong and the British Virgin Islands and Hong Kong companies he controls, his assistant Zhao Mengyao, and He Yujing and Visal Pang, who are linked to Prince Group TCO executive Chen Bo, along with Cambodian companies they control. In a separate designation, Chui Kok Wa, who led an extensive network of scammers in Madagascar that defrauded Americans of more than $400,000 worth of digital assets, was also sanctioned.
Treasury said the action was taken in furtherance of President Trump's Executive Order 14390 of March 6, 2026, and in coordination with the FBI's New York and Honolulu field offices, the Justice Department's Scam Center Strike Force, and the U.S. Attorney's Office for the District of Alaska, with assistance from the British Virgin Islands Financial Investigation Agency and the United Kingdom's Foreign, Commonwealth & Development Office. All property and interests in property of the designated persons in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC.
(Source: U.S. Department of the Treasury)
Source: U.S. Department of the Treasury
Published by GSM · USA (original Chinese edition)
Photo: 图：位于华盛顿的美国财政部大楼正门与 Albert Gallatin 像。Tony Webster 摄，CC BY-SA 3.0，经 Wikimedia Commons。 / Photo: The U.S. Treasury Building in Washington, D.C., with the Albert Gallatin statue. Photo by Tony Webster, CC BY-SA 3.0, via Wikimedia Commons.
