US Treasury Sanctions 46 Targets Linked to Global Cyberscams

The United States Department of the Treasury sanctioned 41 companies and four individuals on November 5, 2026, to dismantle transnational criminal networks targeting Americans. The Office of Foreign Assets Control targeted the Prince Group, a Cambodian firm accused of operating a billion-dollar cyberscam operation using cryptocurrency investment schemes and fake romantic relationships. Among those sanctioned is senior official Qiu Yong, who allegedly laundered funds through companies in Hong Kong and the British Virgin Islands.

In a separate action, the Treasury sanctioned Malaysian national Chui Kok Wa for leading a scam operation based in Madagascar that defrauded Americans of more than $400,000. These measures follow Executive Order 14390, issued by President Donald Trump in March 2026 to combat predatory schemes against U.S. citizens. The operation involved coordination with the FBI, the Justice Department's Scam Center Strike Force, and authorities in the United Kingdom and the British Virgin Islands.

Treasury Secretary Scott Bessent stated that the department remains committed to dismantling every layer of these organizations, including their leadership and financial facilitators. While Cambodian Prime Minister Hun Manet pledged that Cambodia would not be a safe haven for such crimes—noting the extradition of founder Chen Zhi to China and the freezing of nearly $1 billion in assets—critics maintain that the underlying infrastructure of the scam industry remains intact.