The U.S. Department of the Treasury has taken coordinated action against the Prince Group Transnational Criminal Organization, with the Office of Foreign Assets Control sanctioning nine individuals and 26 entities tied to the group and the Financial Crimes Enforcement Network proposing to expand its existing Huione Group rule to cover H-Pay Service PLC and any successor entity. The measures are aimed at disrupting Southeast Asia-based scam and money laundering networks that Treasury says have been used to run cyber-enabled fraud and digital asset investment scams targeting Americans. The sanctions build on Treasury’s October 2025 designation of Prince Group as a transnational criminal organization and focus on leadership figures, investors in scam compounds, payment and laundering facilitators, and associated front companies across multiple jurisdictions. Key targets include Hu Xiaowei, described as Prince Group’s second-in-command, along with a network of companies in the British Virgin Islands, Hong Kong, Singapore and the United Kingdom, as well as other investors and operators linked to scam compounds and payment flows. Treasury said Huione Group had acted as a critical laundering node for cyber heist proceeds and virtual currency investment scams and had been used by Prince Group to transfer and consolidate scam-derived assets. As a result of the OFAC action, U.S.-linked property and interests in property of the designated persons are blocked, and U.S. persons are generally prohibited from dealing with them, including entities owned 50 percent or more by blocked persons. FinCEN’s proposed rule would amend the October 2025 Huione Group Final Rule to add H-Pay Service PLC and any successor entity, with comments due within 30 days of publication in the Federal Register.
U.S. Department of the Treasury2026-06-23
U.S. Department of the Treasury sanctions 35 Prince Group-linked targets and moves to extend Huione restrictions to H-Pay
The U.S. Department of the Treasury sanctioned 35 individuals and entities linked to the Prince Group Transnational Criminal Organization and proposed expanding its Huione restrictions to cover H-Pay Service PLC and any successor entity. The action targets leadership figures, investors, facilitators and front companies involved in scam compounds, money laundering and digital asset fraud affecting U.S. victims. Comments on the FinCEN proposal are due within 30 days of its publication in the Federal Register.