OFAC Expands Sanctions On Prince Group Tied To Global Scam Operations

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On June 23, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) imposed sanctions on various individuals and entities associated with the Prince Group pursuant to Executive Order (“E.O.”) 13581, as amended by E.O. 13863.

United States International Law

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On June 23, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) imposed sanctions on various individuals and entities associated with the Prince Group pursuant to Executive Order (“E.O.”) 13581, as amended by E.O. 13863. This action stems from OFAC’s October 2025 designation of Prince Group as a transnational criminal organization for its conduct of scam compounds, fraud, and money laundering, and was taken in furtherance of efforts to disrupt scam operators based in Cambodia and stop foreign-backed criminal networks that exploit Americans through cyber-enabled fraud.

Treasury Secretary Scott Bessent provided remarks on the action, stating, “[s]cam centers in Southeast Asia steal billions of dollars from American victims each year. . . The Trump Administration is united in its efforts to dismantle these overseas criminal enterprises, and Treasury will continue using its tools to disrupt the networks behind this egregious fraud and protect Americans.”

Sanctioned Actors

Below is an overview of the key actors that were targeted as a result of OFAC’s June 23, 2026, action. For additional details on the specific individuals and entities sanctioned and identified, please see OFAC’s press release.

Sanctioned Individuals

OFAC sanctioned nine individuals as part of this action. Among these individuals is Hu Xiaowei (“Hu”), the Prince Group’s purported “second-in-command” and “big brother” to the Prince Group’s leader, Chen Zhi (“Chen”). Hu was previously designated by OFAC in October 2025 under the alias Chen Xiao’er. He reportedly set up and supervised the Prince Group’s subsidiary entities outside Cambodia, conducted Prince Group-related activities pertaining to aircraft and transnational real estate, engaged in illicit gambling activities, and owned companies ultimately controlled by Chen.

Other sanctioned individuals include three of Hu’s main subordinates who serve as officers in multiple entities controlled by Hu, major investors in a Prince Group scam compound, and Prince Group leaders who are involved in scam-related activities and/or hold positions in OFAC-designated Prince Group entities.

Sanctioned Entities

In addition to the nine individuals, OFAC also sanctioned twenty-six entities linked to Prince Group. These entities are based in the UK, British Virgin Islands, Hong Kong, and Singapore, and are owned or controlled by one or more of the sanctioned individuals. They include, among others, Rocket Sandbox Ltd, Eagle Fortitude Limited, Future Cosmos Limited, and Future Oasis Pte. Ltd.

OFAC Designation Implications

As a result of OFAC’s designations, all property, and interests in property of the designated persons above that are in the United States or in the possession or control of US persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, 50 percent or more by one or more blocked persons are also blocked. All transactions by US persons or within (or transiting) the United States that involve any property or interests in property of designated or blocked persons are prohibited unless authorized by a general or specific license issued by OFAC or exempt. These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.

Parallel FinCEN Action Against Huione Group

Parallel to OFAC’s action, the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) proposed an amendment to its October 2025 final rule regarding the Huione Group, a purported enabler of the Prince Group’s fraud and scam operations.

First, the proposed rule would expand the definition of “Huione Group” to include an entity named “H-Pay Service PLC,” a newly operational Cambodian component of the Huione Group that has effectively assumed the role of an already-designated member of the Group. Second, the proposed rule would include within the definition any “successor entity” of the Huione Group, with the aim of preventing any rebranding efforts by the Huione Group to circumvent US measures to defend its financial system from money laundering and financing risks.

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