In a significant move against international cybercrime, the US and UK governments have imposed sanctions on a Cambodian network allegedly operating large-scale cyber-scam centers. This coordinated effort includes asset freezes on London properties valued at approximately £130 million owned by the Prince Group, which is led by chair Chen Zhi.
The announcement stated that the Prince Group and its affiliated companies have been accused of luring individuals into controlled environments—akin to prisons—across Cambodia. These victims were reportedly coerced into executing online scams targeting victims worldwide. UK Foreign Secretary Yvette Cooper emphasized the gravity of the situation, highlighting that “the masterminds behind these horrific scam centres are ruining the lives of vulnerable people and buying up London homes to store their money.” Meanwhile, US Treasury Secretary Scott Bessent mentioned the collaboration with law enforcement partners to protect Americans from such predatory criminals.
According to the US Treasury, scam operations led to American losses exceeding $10 billion in 2024, which represents a two-thirds increase from the preceding year. The crackdown on the Prince Group aligns with the UK’s broader efforts to combat international money laundering and illicit financial activities. The US sanctions were issued under guidelines aiming to target transnational crime and were released alongside a criminal indictment against Chen in New York.
The investigation revealed that the Prince Group orchestrated a complex operation involving various front companies and gambling platforms to launder proceeds from their scams. As part of the sanctions, Chen, along with the Prince Group and its subsidiaries, will be barred from both the UK and US financial systems. The asset freezes specifically impact 19 properties in London, including a prime office building at 10 Fenchurch Street, which was acquired for £95 million in 2020. Chen also possesses an exclusive residence on Avenue Road in St John’s Wood, London, which was the site of heightened police activity.
Onlookers noted the presence of a Metropolitan Police van and officers bearing the insignia of the UK’s National Crime Agency (NCA) near the Avenue Road property. Witnesses reported law enforcement officials were seen coming and going throughout the day, indicating ongoing investigative efforts.
Amnesty International’s investigation has shed light on the alleged practices within these scam centers, particularly one labeled “pig-butchering,” in which victims are entrapped in fake romantic relationships designed to defraud them. A harrowing account from a Chinese woman revealed that she had been sold to another scam facility affiliated with the Prince Group for $7,000. Detailed descriptions from the investigation highlight the extensive security measures employed at these sites, including guards, barbed wire, and surveillance cameras, aimed at preventing escape and maintaining control over the victims.
While the NCA confirmed their activities at the Avenue Road property, they declined to provide further comments. The Metropolitan Police referred inquiries to the NCA, and a legal representative for Chen chose not to comment on the unfolding situation. This crackdown marks a notable escalation in efforts to dismantle complex networks of cybercrime that exploit vulnerable individuals for financial gain.
