US expands sanctions on Cambodia’s Prince Group

The United States has widened its crackdown on cyber fraud networks in Southeast Asia, imposing fresh sanctions on Cambodia’s Prince Group and seizing a cloud account linked to its operations.

The Treasury Department announced measures against nine individuals and 26 entities tied to the conglomerate, citing large‑scale scam centres that have siphoned billions from American victims. The move builds on sanctions first imposed in 2025, when Prince Group was accused of using its sprawling businesses – from real estate to airlines – to mask illicit activity.

Treasury Secretary Scott Bessent said scam centres in the region had cost Americans at least $10 billion in 2024, a sharp rise from the previous year. He stressed that the new sanctions were designed to disrupt networks laundering proceeds through digital asset fraud and cyber heists.

At the same time, the Justice Department revealed it had seized a cloud computing account used by subsidiaries of Huione Group, another Cambodian‑based operator accused of funnelling scam profits into the legitimate banking system. Officials said the account was part of the technological backbone enabling billions in stolen funds to be moved and concealed.

The seized infrastructure allegedly supported Huione Guarantee, also known as Haowang Guarantee, which prosecutors say used Telegram channels to trade stolen credit cards, identity data and even facilitate human trafficking. It was also linked to laundering proceeds from romance and investment scams.

Assistant Director Brett Leatherman of the FBI’s Cyber Division described the action as part of Operation Riptide, a wider effort to dismantle the tools underpinning global fraud. “Seizing the backend infrastructure makes it harder for criminals to profit from their illicit proceeds,” he said.

Among those targeted in the Treasury sanctions is Hu Xiaowei, described as the Prince Group’s second‑in‑command and close ally of its leader Chen Zhi. Authorities say Hu controls companies in the British Virgin Islands used to manage funds and properties. Chen himself was arrested and extradited to China in January after a joint US‑China investigation.

The Prince Group did not respond to requests for comment. Its website is no longer accessible.

The latest measures highlight Washington’s determination to tackle transnational cybercrime, particularly networks operating from Southeast Asia. By targeting both individuals and the digital infrastructure they rely on, US authorities aim to cut off the flow of illicit funds and protect victims from escalating fraud.

-2026-06-24