US Treasury sanctions 45 targets linked to crypto scams
Key points
- The US Treasury sanctioned 45 individuals and entities linked to Prince Group’s alleged criminal network.
- The action covers four individuals and 41 entities accused of supporting the organisation’s operations.
- The sanctions target corporate and financial networks allegedly enabling cryptocurrency investment scams and money laundering.
The US Treasury has sanctioned 45 individuals and entities linked to Prince Group over their alleged involvement in cryptocurrency scams.
The Office of Foreign Assets Control (OFAC) identified four individuals and 41 entities in the action.
“Cyber scam syndicates continue to steal billions of dollars from American victims,” US Treasury Secretary Scott Bessent said in a statement.
The targets allegedly helped conceal ownership, manage offshore companies and provide financial services to Prince Group executives.
The Treasury linked the organisation to digital asset investment scams, romance scams and other online fraud schemes.
Many operations allegedly rely on scam compounds across Southeast Asia, where trafficked and coerced workers conduct online fraud.
The Treasury also identified cryptocurrency transactions and offshore companies as channels used to conceal criminal proceeds.
The sanctions block designated parties’ US-based assets and generally prohibit transactions involving them by US persons.
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