U.S. Expands Sanctions Against Prince Group, Targeting 41 Entities and Four Individuals for Alleged Fraud
The United States has expanded its sanctions against the Cambodia-based Prince Group, designating an additional 41 entities and four individuals. This action, announced by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) on November 5, aims to disrupt a corporate network that U.S. authorities allege has been involved in concealing assets and facilitating access to international finance for illicit activities. The newly sanctioned entities span various sectors, including insurance, aviation, property, and lending. Treasury claims that affiliates of the Prince Group have generated billions of dollars through online fraud schemes, such as cryptocurrency investment and romance scams. Many of these operations are reportedly linked to Southeast Asian compounds where trafficked and coerced workers are forced to carry out these scams. This latest round of sanctions builds upon previous measures imposed in October 2025 and June 2026.