The US Department of the Treasury said it took coordinated action to further disrupt the Prince Group Transnational Criminal Organization (Prince Group TCO). Treasury's Office of Foreign Assets Control (OFAC) sanctioned nine individuals and 26 entities linked to Prince Group TCO, including TCO leadership and investors in scam compounds.

Treasury Secretary Scott Bessent said scam centres in Southeast Asia steal billions of dollars from American victims each year and that Treasury will continue disrupting the networks behind that fraud.

Treasury says the action builds on OFAC's 14 October 2025 designation of Prince Group as a TCO, targets facilitators including Hu Xiaowei (described as Prince Group TCO's "second-in-command" to leader Chen Zhi) and related Hong Kong and British Virgin Islands companies, and was taken with the FBI's New York and San Francisco Field Offices; FinCEN appreciates AUSTRAC's contributions, and OFAC coordinated with Japan's National Police Agency. Treasury cites a US government estimate that Americans lost at least $10 billion in 2024 to Southeast Asia-based scam operations. (source: US Treasury press release)

The Record reported on 5 November 2026 that Thursday's sanctions are a further round aimed at shell companies used to keep laundering scam proceeds after earlier US action and Chen Zhi's arrest. (source: The Record) Counts of "four people and 41 companies" appearing in some secondary coverage are not used here; this card uses Treasury's nine individuals and 26 entities.