The U.S. Treasury Department has imposed comprehensive sanctions on a Cambodian online fraud group, eliminating the money laundering operations of the Huiwang Group related to virtual money.

[Coin World] According to reports, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed comprehensive sanctions on 146 targets within the “Prince Group TCO” (Transnational Criminal Organization). This organization is a network based in Cambodia, led by Cambodian national CHEN ZHI, operating a transnational criminal empire through online investment scams targeting Americans and others worldwide. Additionally, the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) established a rule under Section 311 of the USA PATRIOT Act to exclude the Cambodia-based financial services group “Huione Group” from the U.S. financial system. For years, Huione Group has been laundering virtual money obtained from scams and theft for malicious cyber actors.