Cracking down on Cambodia’s “black economy”: Democracies led by the U.S. sanction a Hun Sen–linked cyber-scam network

On October 14, 2025, the US Department of the Treasury launched a large-scale sanctions campaign against Prince Group—a Cambodian transnational conglomerate founded in 2015 by former PRC citizen and government advisor Chen Zhi, which formally specializes in real estate and financial services.

According to Treasury Secretary Scott Bessent, the fraudulent schemes of Prince Group and related structures caused at least $10 billion in damages to American citizens—in 2024 alone.

As part of the campaign, 146 individuals (including relatives of the Cambodian prime minister) and several dozen companies affiliated with Prince Group and registered in Cambodia, Laos, and Hong Kong were added to the sanctions list.