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US Treasury designates Cambodia’s Prince Group a transnational criminal organization

Treasury building
Photo: mrbfaust/Getty Images

The DOJ’s parallel forfeiture action is the largest ever involving crypto fraud, while FinCEN targeted a sophisticated scam support network.

The US Treasury formally labeled the Cambodian Prince Group a Transnational Criminal Organization (TCO), alleging the conglomerate ran industrial-scale online investment and romance scams—otherwise known as pig butchering scams – that targeted Americans and others across the world. 

The action was taken in concert with the UK’s Foreign, Commonwealth, and