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US expands sanctions on Cambodia-linked cyberscam network
Published : Friday, 6 November, 2026 at 4:22 PM
Observer Online Report
Collected Photo
The United States has imposed fresh sanctions on four individuals and 41 companies linked to Cambodia's alleged Prince Group cyberscam network, accused of defrauding Americans through large-scale online scams.
The US Treasury Department announced the sanctions on Thursday, targeting individuals and businesses allegedly involved in money laundering and facilitating the group's operations.
Among those sanctioned is Qiu Yong, a senior Prince Group official accused of using companies in the British Virgin Islands and Hong Kong to launder funds through money-lending services and other business ventures.
The Treasury also sanctioned Malaysian national Chui Kok Wa for allegedly leading a scam network in Madagascar that used cryptocurrencies and other cyber-enabled technologies to defraud Americans of more than $400,000.
Cambodia has emerged as a major hub for cyberscam operations involving fake romantic relationships and fraudulent cryptocurrency investment schemes. Some workers are reportedly trafficked into these operations, while others participate willingly.
Prince Group founder Chen Zhi was extradited to China in January after the conglomerate faced US and UK sanctions. Cambodian authorities say at least six alleged ringleaders have been arrested and nearly $1 billion worth of casinos, buildings and other properties frozen. The group has denied involvement in cyberscams.
US Treasury Secretary Scott Bessent said the department was committed to dismantling the networks, including their leadership, corporate structures and financial facilitators.
Cambodian Prime Minister Hun Manet has pledged to prevent the country from becoming a safe haven for cyberscams, although analysts say the networks' financial and physical infrastructure remains intact.
Source: AFP
-AH
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Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka.
Editorial, News and Commercial Offices : Aziz Bhaban (2nd floor), 93, Motijheel C/A, Dhaka-1000.
Phone: PABX- 41053001-06; Advertisement: 41053012; 01793317829, 01550707291, 01550707296
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