Treasury sanctions four people and 41 companies in the Prince Group scam network's offshore corporate structure, plus a Malaysian who ran Africa-based scammers
Named targets include Qiu Yong, who Treasury says controls BVI and Hong Kong companies for the group and worked for a company controlled by its leader Chen Zhi, and companies owned or controlled by previously designated executives Dai An and Thet Li in Singapore, Mauritius and Malaysia. 45 targets were designated under the transnational criminal organization order (E.O. 13581) and one under the cyber sanctions order (E.O. 13694). Treasury says it coordinated with the FBI's New York and Honolulu field offices, DOJ's Scam Center Strike Force, the U.S. Attorney for Alaska, and BVI and UK authorities.
For defenders: finance and compliance teams should screen against the new SDN entries.
Sources: U.S. Treasury: Treasury Targets Global Scam Networks and the Corporate Infrastructure That Enables Them (Nov 5) · The Record: US issues more sanctions against Prince Group scam center affiliates (Nov 5)