U.S. Sanctions 45 Individuals and Entities Linked to Prince Group

深潮 TechFlow reported on Nov. 7, according to a U.S. Treasury Department announcement, that the Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned on Nov. 5 four individuals and 41 entities supporting the business network of Prince Group, a transnational criminal organization. The organization had previously been sanctioned by the United States for online fraud, money laundering, and human trafficking.

The Treasury Department said Prince Group affiliates obtained illicit proceeds through online fraud, including digital asset investment scams; the sanctioned targets are involved in offshore company administration, concealment of beneficial ownership, and providing administrative and financial services to group executives.

Source: 深潮 TechFlow