The Treasury Department announced Thursday that it is imposing sanctions on dozens of individuals and companies connected to international criminal operations accused of defrauding Americans through online scams, as the Trump
administration moves to dismantle the financial networks supporting cyber-enabled fraud, money laundering, and human trafficking.
The Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned a total of 46 targets, including four individuals and 41 entities supporting the business network of the Prince Group, which is a transnational criminal organization the United States previously sanctioned for its involvement in cyber-enabled fraud, money laundering, and human trafficking. OFAC also designated a Malaysian individual accused of operating an Africa-based scam network that defrauded Americans.
“Cyber scam syndicates continue to steal billions of dollars from American victims while relying on sophisticated international business networks to launder their illicit proceeds,” Treasury Secretary Scott Bessent said.
“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,” Bessent added.
The November 5 sanctions build on previous Treasury actions taken on October 14, 2025, and June 23, 2026, targeting Prince Group leadership, affiliated companies, and financial facilitators. According to the department, Prince Group-affiliated actors have generated billions of dollars in illicit proceeds through digital asset investment scams, romance scams, and other online fraud targeting Americans and victims worldwide.
Many of these operations have been linked to large-scale scam compounds in Southeast Asia, where trafficked and coerced workers are forced to carry out online fraud. Criminal proceeds are subsequently laundered through international networks of shell companies, offshore holding companies, financial facilitators, and digital asset transactions to conceal their origins and move the funds into the legitimate financial system.
Treasury said the newly sanctioned individuals and companies helped sustain Prince Group’s operations following earlier sanctions by managing offshore corporate structures, concealing beneficial ownership, facilitating commercial activities, and providing administrative and financial services to senior executives. Some also participated in activities intended to circumvent previous sanctions, including transferring property and maintaining ownership of companies on behalf of previously designated Prince Group leaders.
The sanctions advance President Donald Trump’s March 6, 2026, Executive Order 14390, “Combating Cybercrime, Fraud, and Predatory Schemes Against American Citizens,” which directs the federal government to use available tools against foreign-backed criminal networks exploiting Americans through cybercrime, cyber-enabled fraud, and extortion. The actions were coordinated 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 authorities in the British Virgin Islands and United Kingdom.
Among those sanctioned is Qiu Yong, whom Treasury identified as a key Prince Group member responsible for controlling multiple companies registered in the British Virgin Islands and Hong Kong on behalf of the organization. Qiu previously worked for a company controlled by Prince Group leader Chen Zhi, who was sanctioned in October 2025, and holds passports from multiple jurisdictions, including Cambodia, St. Lucia, and Türkiye.
Treasury identified Qiu as the beneficial owner of several offshore companies controlling Hong Kong businesses involved in money lending, wine distribution, and other commercial ventures. The sanctioned companies include Premium Financial Limited, Solar Scape Financial Limited, and several businesses connected to the wine industry. Qiu also controls multiple British Virgin Islands-registered shelf companies.
Another sanctioned individual, Zhao Mengyao, also known as Amy Zhao, serves as Qiu’s personal assistant, company secretary, and co-director of multiple Hong Kong companies ultimately controlled by him. Treasury said Qiu and Zhao are shareholders of Mighty Divine Trust Hong Kong Limited, which is directed by Zhou Yun, a previously sanctioned financial assistant and wealth manager for Prince Group leader Chen Zhi. Qiu, Zhao, and 14 companies associated with Qiu were included in Thursday’s sanctions.
Treasury also targeted Cambodian national He Yujing, the wife of previously sanctioned Prince Group executive Chen Bo, and Cambodian Prince Group associate Visal Pang. According to the department, Chen transferred ownership of his Tokyo mansion to He following the October 2025 sanctions against Prince Group. He also owns the Cambodian company Super Light Speed Kh Technology Co., Ltd., which was sanctioned Thursday.
Pang, who was previously sanctioned by the United Kingdom on March 26, 2026, controls 11 Cambodian companies, several of which he co-directs with Chen Bo. Treasury separately identified 11 Cambodian companies that remain under Chen’s control, including businesses involved in insurance, airlines, property development, and technology. The companies associated with He, Pang, and Chen were sanctioned for their ownership, control, or activities conducted on behalf of the designated individuals.
The department further sanctioned three companies connected to Dai An, a high-level Prince Group leader designated in June 2026. Dai is the majority owner of Singapore-based Chen Hua Holdings Pte Ltd and serves as director of Mauritius-based Meritwise Group Public Ltd and Malaysia-based Greenmeadows Properties Sdn Bhd. Another Singapore-based company, Greenbay Multi Media Pte Ltd, was sanctioned because it is wholly owned by Prince Group executive Thet Li, who was designated in October 2025.
Beyond the Prince Group network, Treasury separately sanctioned Malaysian individual Chui Kok Wa for leading an extensive scam operation based in Madagascar that targeted Americans through fraudulent digital asset schemes. According to the department, Chui’s network exploited cryptocurrencies and other digital technologies to defraud numerous Americans of more than $400,000 in equivalent value.
Treasury said Chui’s operation cultivated sympathy from vulnerable victims to misappropriate their funds for the network’s private financial gain. OFAC designated Chui for involvement in cyber-enabled activities originating outside the United States that threatened American national security, foreign policy, or economic interests and involved the misappropriation of funds.
Under the sanctions, property and interests in property belonging to designated individuals and entities that are located in the United States or controlled by U.S. persons are blocked and must be reported to OFAC. Entities owned directly or indirectly, individually or collectively, 50 percent or more by one or more blocked persons are also blocked. Unless authorized or exempt, U.S. persons are generally prohibited from transactions involving designated or otherwise blocked individuals and entities, and violations can result in civil or criminal penalties.
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