The United States has expanded its campaign against international cyber fraud networks by imposing sanctions on individuals and entities linked to Cambodia-based Prince Group, accusing them of involvement in large-scale scam operations that have victimized Americans and generated billions of dollars in illicit proceeds.
The sanctions, announced by the U.S. Treasury Department, target nine individuals and 26 entities allegedly connected to the business network.
According to U.S. officials, transnational criminal organizations operating in the region have increasingly targeted American citizens through sophisticated online scams.
These schemes often involve fraudulent investment opportunities, cryptocurrency-related deception, romance scams, and other forms of cyber-enabled financial fraud designed to extract large sums of money from victims.
Treasury Secretary Scott Bessent said scam centers operating throughout Southeast Asia have become a major threat to American consumers, businesses, and financial institutions.
U.S. authorities estimate that Americans lost at least $10 billion to scam operations based in the region during 2024, a dramatic increase from previous years and evidence of the growing scale and sophistication of these criminal enterprises.
The Treasury Department also highlighted concerns about digital asset investment fraud, which has emerged as one of the most profitable categories of online scams.
Criminal networks frequently use cryptocurrency platforms and digital payment systems to move funds across borders, complicating efforts by law enforcement agencies to trace and recover stolen assets.
In addition to the sanctions, federal officials are pursuing broader regulatory measures aimed at disrupting financial channels used by fraud networks.
The latest sanctions underscore a broader U.S. strategy of using financial penalties to combat international cybercrime and transnational fraud.
By restricting access to the global financial system, policymakers hope to weaken organizations accused of facilitating large-scale scams while increasing pressure on governments throughout the region to address criminal activities operating within their borders.
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US adds sanctions involving Prince Group over scams, Treasury says https://t.co/nvdbyvVXRA
— The Straits Times (@straits_times) June 23, 2026
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