The U.S. Treasury Department has rolled out new sanctions targeting the commercial networks of the Prince Group, an international crime syndicate involved in cyber fraud, money laundering, and human trafficking. The Office of Foreign Assets Control (OFAC) blacklisted four individuals and 41 entities that support the organization’s operations.

According to the Treasury, affiliates of the previously sanctioned Prince Group have targeted victims in the U.S. and worldwide through digital asset investment schemes, romance scams, and various other online frauds. These operations have generated billions of dollars in illicit profits, which the group launders using offshore holdings, international shell companies, and financial intermediaries.

The latest round of sanctions specifically aims to dismantle the corporate and financial infrastructure the syndicate uses to hide its assets, maintain access to the global financial system, and evade prior penalties.

In addition to the Prince Group network, OFAC also sanctioned Chui Kok Wa, a Malaysian national running a separate fraud ring based in Madagascar. Chui’s network targeted U.S. citizens through digital asset scams, successfully defrauding Americans of more than $400,000.

U.S. Treasury Secretary Scott Bessent highlighted that cyber fraud networks continue to steal billions from Americans, relying on sophisticated global commercial networks to launder their illicit gains. He emphasized that the U.S. government remains fully committed to dismantling every element of these criminal enterprises, including the corporate structures and financial facilitators that make their operations possible.