Oct. 14 (UPI) -- Britain and the United States announced Tuesday that they have together sanctioned a transnational scam organization operating out of Cambodia.
The U.S. Department of Treasury Office of Foreign Assets Control announced it has imposed sweeping sanctions on 146 targets within the Prince Group transnational criminal organization, a Cambodia-based network led by Cambodian national Chen Zhi that operates a global criminal empire through online investment scams.
It also announced that the Financial Crimes Enforcement Network has finalized a rule under the USA Patriot Act to sever the Cambodia-based financial services conglomerate Huione Group from the U.S. financial system. "For years, Huione Group has laundered proceeds of virtual currency scams and heists on behalf of malicious cyber actors," the press release said.
Covered financial institutions are now banned from opening or maintaining accounts for Huione Group, the Treasury Department said.
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