Latest: The Treasury’s press release for the action says OFAC sanctioned four individuals and 41 entities that support the business network of the Prince Group Transnational Criminal Organization, and designated one further individual who defrauded US victims by managing a network of Africa based scammers. Secretary of the Treasury Scott Bessent said Treasury remains committed to “dismantling every layer of these organizations”, from their leadership to the corporate structures and financial facilitators that enable them to operate. The release names Qiu Yong, a Prince Group member who controls multiple British Virgin Islands and Hong Kong companies on behalf of the group, his assistant Zhao Mengyao, He Yujing, the wife of designated executive Chen Bo, and Cambodian associate Visal Pang, who controls eleven Cambodian companies, among the individuals designated, and says the action targets the offshore corporate structures, nominee arrangements and administrative services that let Prince Group leaders conceal assets and evade the October 2025 and June 2026 designations. A second section of the release designates Chui Kok Wa, who it says led a network of scammers in Madagascar that defrauded Americans of over $400,000 in digital assets. The action was taken in coordination with the FBI’s New York and Honolulu field offices, the Department of Justice’s Scam Center Strike Force and the US Attorney’s office for the District of Alaska, under Executive Order 14390 of March 6, 2026 on combating cybercrime and fraud against American citizens.
The Treasury Department’s Office of Foreign Assets Control published a new round of designations on Thursday, adding seven individuals and dozens of entities to the Specially Designated Nationals list. Most of the additions are Cambodian companies and their associates linked to the Prince Group Transnational Criminal Organization, with further entities in Hong Kong, Singapore, Malaysia, Mauritius and the British Virgin Islands, plus one individual designated under a cyber-related programme.
The same action published a determination identifying the electronics, manufacturing, marine and technology sectors of the Cuban economy under Executive Order 14404, and designated Cuban state firms in those sectors, including the electronics importer CubaElectronica, the technical services firm Tecnosime and the maritime carrier Petroleos Maritimos del Caribe. OFAC also added the Cuba programme tag to three tankers that now fly the Cuban flag and to their Cyprus-based operator, Caroil Transport Marine.