U.S. Sanctions 45 More Prince Group Scam Network Targets
OFAC sanctioned 4 people and 41 entities tied to Cambodia’s Prince Group on Nov. 5, plus a Malaysian national accused of running scammers in Madagascar.
Featured photo: the U.S. Treasury Department building in Washington (file photo). Photo: Yuanju (Wikimedia Commons user 颐园居), CC BY-SA 4.0.
WASHINGTON — The Treasury Department’s Office of Foreign Assets Control sanctioned four individuals and 41 entities on Nov. 5, 2026, for supporting the Cambodia-based Prince Group Transnational Criminal Organization.
OFAC also designated a Malaysian national who it said defrauded U.S. victims by managing a network of Africa-based scammers, Treasury said. The action builds on designations of Prince Group leaders and affiliates on Oct. 14, 2025, and June 23, 2026, according to Treasury.
What Treasury says the network does
Prince Group-affiliated actors have generated billions of dollars through digital asset investment scams, romance scams and other online fraud, Treasury said. Many of the operations are linked to scam compounds in Southeast Asia that rely on trafficked and coerced workers, the department said.
The newly designated people and companies helped the group keep operating after earlier sanctions by managing offshore structures and concealing beneficial ownership, Treasury said. Some took part in transferring property and owning companies on behalf of previously designated leaders to evade sanctions, according to the release.
Who was named
Treasury identified Qiu Yong as a key Prince Group member who controls British Virgin Islands and Hong Kong companies on the group’s behalf. Treasury said Qiu has worked for a company controlled by the group’s leader, Chen Zhi, who was designated on Oct. 14, 2025.
The State Department said the Malaysian national, Chui Kok Wa, managed scammers in Madagascar who targeted Americans, including with schemes to steal digital assets, in a statement. Charges unsealed on Oct. 27, 2026, in federal court in Washington accuse Chui of conspiracy to commit wire fraud, the State Department said. The charges are allegations.
Legal basis and partners
OFAC designated 45 targets under Executive Order 13581 on transnational criminal organizations and one under Executive Order 13694 on malicious cyber-enabled activity, Treasury said. The action was coordinated with the FBI’s New York and Honolulu field offices and the Justice Department’s Scam Center Strike Force, according to Treasury.
“Cyber scam syndicates continue to steal billions of dollars from American victims,” Treasury Secretary Scott Bessent said in the release. Treasury thanked the British Virgin Islands Financial Investigation Agency and the U.K. Foreign, Commonwealth and Development Office for information sharing.
What it means
Analysis: The third round of Prince Group sanctions targets the corporate layer rather than the scam compounds themselves. That reflects a judgment that offshore holding companies and nominee directors are what keep the network connected to the financial system. Corporate registries in the British Virgin Islands and Hong Kong are now the main open-source trail to follow.
Sources
- U.S. Department of the Treasury: Treasury Targets Global Scam Networks and the Corporate Infrastructure That Enables Them
- U.S. Department of State: Dismantling the Prince Group Transnational Criminal Organization
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